diff --git a/app/models/wallet.rb b/app/models/wallet.rb
index d6b45008dfd..376d0a4ecc8 100644
--- a/app/models/wallet.rb
+++ b/app/models/wallet.rb
@@ -57,6 +57,7 @@ def currency
 #  invoice_requires_successful_payment :boolean          default(FALSE), not null
 #  last_balance_sync_at                :datetime
 #  last_consumed_credit_at             :datetime
+#  lock_version                        :integer          default(0), not null
 #  name                                :string
 #  ongoing_balance_cents               :bigint           default(0), not null
 #  ongoing_usage_balance_cents         :bigint           default(0), not null
diff --git a/app/services/wallets/balance/increase_service.rb b/app/services/wallets/balance/increase_service.rb
index 87a1fdb81b5..86d135ecc16 100644
--- a/app/services/wallets/balance/increase_service.rb
+++ b/app/services/wallets/balance/increase_service.rb
@@ -3,34 +3,51 @@
 module Wallets
   module Balance
     class IncreaseService < BaseService
+      MAX_RETRIES = 5
+
       def initialize(wallet:, credits_amount:, reset_consumed_credits: false)
         super
 
         @wallet = wallet
         @credits_amount = credits_amount
         @reset_consumed_credits = reset_consumed_credits
+        @retries = 0
       end
 
       def call
-        currency = wallet.balance.currency
-        amount_cents = wallet.rate_amount * credits_amount * currency.subunit_to_unit
-
-        update_params = {
-          balance_cents: wallet.balance_cents + amount_cents,
-          credits_balance: wallet.credits_balance + credits_amount,
-          last_balance_sync_at: Time.current
-        }
-
-        if reset_consumed_credits
-          update_params[:consumed_credits] = [0.0, wallet.consumed_credits - credits_amount].max
-          update_params[:consumed_amount_cents] = [0, wallet.consumed_amount_cents - amount_cents].max
+        ActiveRecord::Base.transaction do
+          currency = wallet.balance.currency
+          amount_cents = wallet.rate_amount * credits_amount * currency.subunit_to_unit
+
+          update_params = {
+            balance_cents: wallet.balance_cents + amount_cents,
+            credits_balance: wallet.credits_balance + credits_amount,
+            last_balance_sync_at: Time.current
+          }
+
+          if reset_consumed_credits
+            update_params[:consumed_credits] = [0.0, wallet.consumed_credits - credits_amount].max
+            update_params[:consumed_amount_cents] = [0, wallet.consumed_amount_cents - amount_cents].max
+          end
+
+          wallet.update!(update_params)
+          Wallets::Balance::RefreshOngoingService.call(wallet:)
         end
 
-        wallet.update!(update_params)
-        Wallets::Balance::RefreshOngoingService.call(wallet:)
-
         result.wallet = wallet
         result
+      rescue ActiveRecord::StaleObjectError
+        @retries += 1
+
+        if @retries <= MAX_RETRIES
+          sleep(0.5)
+
+          wallet.reload
+
+          retry
+        end
+
+        result.service_failure!(code: 'race_condition_error', message: '')
       end
 
       private
diff --git a/db/migrate/20241008080209_add_lock_version_to_wallets.rb b/db/migrate/20241008080209_add_lock_version_to_wallets.rb
new file mode 100644
index 00000000000..368fbc84983
--- /dev/null
+++ b/db/migrate/20241008080209_add_lock_version_to_wallets.rb
@@ -0,0 +1,7 @@
+# frozen_string_literal: true
+
+class AddLockVersionToWallets < ActiveRecord::Migration[7.1]
+  def change
+    add_column :wallets, :lock_version, :integer, default: 0, null: false
+  end
+end
diff --git a/db/schema.rb b/db/schema.rb
index d8baa37660f..75244a8931a 100644
--- a/db/schema.rb
+++ b/db/schema.rb
@@ -10,7 +10,7 @@
 #
 # It's strongly recommended that you check this file into your version control system.
 
-ActiveRecord::Schema[7.1].define(version: 2024_10_01_112117) do
+ActiveRecord::Schema[7.1].define(version: 2024_10_08_080209) do
   # These are extensions that must be enabled in order to support this database
   enable_extension "pgcrypto"
   enable_extension "plpgsql"
@@ -1160,6 +1160,7 @@
     t.decimal "credits_ongoing_usage_balance", precision: 30, scale: 5, default: "0.0", null: false
     t.boolean "depleted_ongoing_balance", default: false, null: false
     t.boolean "invoice_requires_successful_payment", default: false, null: false
+    t.integer "lock_version", default: 0, null: false
     t.index ["customer_id"], name: "index_wallets_on_customer_id"
   end