SatoshiPay

SatoshiPay is an innovative micro-payment service offering a cheap and frictionless way to pay for content on the internet (the, our Service). Producers and publishers of digital content (Content Providers) choose SatoshiPay to sell individual and even partial pieces of their content (Content) in return for small digital cash payments from their users (Customers).

SatoshiPay relies exclusively on Bitcoin to transfer payments directly from Customers to Content Providers. Behind the scenes, SatoshiPay uses its own implementation of the well-known Bitcoin Payment Channel Protocol to lower overall transaction costs, without taking custody of user funds.

The Service is developed and operated by SatoshiPay Ltd (we, our or us). We are registered in England and Wales under registration number 09366948, and our registered office is at Dalton House, 60 Windsor Avenue, London, SW19 2RR, United Kingdom.

Our principal of business is at Dalton House, 60 Windsor Avenue, London, SW19 2RR, United Kingdom. You can contact us by writing to the business address given above or by email to [email protected].

By using our Service, you agree with the stipulations put forth in these Terms and confirm that you accept and comply with them (the Agreement).

These Terms contain rights and obligations of the parties, reservations, liabilities and other terms of service. Please read the Terms carefully before agreeing.

The Service

A Customer-facing payment gateway to the Bitcoin network in form of a widget (SatoshiPay Widget), which the Content Provider chooses to implement on all or some sections of its website. We operate the Service’s endpoints that deliver the necessary software libraries and communication functionality to enable Bitcoin micropayments based on the Bitcoin micropayment channel protocol through web browsers.

A Bitcoin browser wallet (Browser Wallet) which is created in Customers’ browsers by the SatoshiPay Widget. The private Key necessary to move the funds held in the Browser Wallet is created in the Customers’ sandboxed browser environment and never disclosed to us or any other third party, including the Content Provider.

Regulatory Considerations

We are not a general-purpose Bitcoin wallet for permanent or temporary storage of bitcoins, a Bitcoin exchange, a Bitcoin marketplace or any other service to purchase, sell or convert bitcoins. Transactions within the Bitcoin network are not monetary transactions in cash or electronic money under the Financial Services & Markets Act 2000 (FSMA), the Payment Services Directive (PSD) or any other applicable legal statute.

Bitcoins (the transferrable units of account used for payments on the Bitcoin network) do not constitute a currency or money as defined in the English legal system. Transactions on the Bitcoin network do not constitute any of the payment services or non-cash foreign currency transactions listed in the FSMA. The exchange of bitcoins into fiat currencies does not constitute an exchange of currencies.

Bitcoins do not constitute an investment in instruments pursuant to the FSMA. Transactions within the Bitcoin network are not under the permission, supervision, control or any other review of the Financial Services Authority and related authorities, the Bank of England or any other regulatory office. SatoshiPay is not an authorized payment services provider under the FSMA, PSD, E-Money Directive or any other applicable legal statute

Conditions and Limitations

You shall not use our Service for any purposes that do not relate to the sales or purchase of Content, including but not limited to any acts relating to money laundering, as specified under section 18 in the United Kingdom’s Terrorism Act 2000, or any of the acts specified under sections 327 (Concealing), 328 (Arrangements) and 329 (Acquisition) of the Proceeds of Crime Act 2002, or any any acts constituting an attempt, conspiracy or incitement, aiding, abetting, counselling or procuring the commission to perform such an act.

You represent and warrant to us that your use of our Service does not relate to the sales of drugs, narcotics, research chemicals, medicals or any controlled substances, items that infringe or violate any copyright or trademark, items that are restricted from trade by the decision of responsible authorities, ammunition, firearms, explosives, weapons or knives, high yield programme schemes, Ponzi schemes or any other similar schemes.

Neither shall you use our Service for any other activities forbidden in the jurisdictions governing this Agreement, the company SatoshiPay, as well as your own jurisdiction and that of your Customers.

We reserve the right to make visual, functional or any other kinds of changes to the Service offered by us at any point in time without stating any expressed reason or giving any prior notice.

We reserve the right to refuse transactions and to make our Service partially or completely unavailable at any point in time without stating any expressed reason or giving any prior notice. All unspent funds that are held in a shared multi-signature payment channel wallet with us are automatically unlocked 24 hours after channel creation and are then ready to be re-spent by the Customer.

Liability

In no event will we, or our suppliers or licensors, be liable with respect to any subject matter of this Agreement under any contract, negligence, strict liability or other legal or equitable theory for: (i) any direct, indirect, special, incidental, consequential, exemplary or punitive damages; (ii) any loss, theft, disappearance, or damages for lost profits, lost revenues, lost data or other intangible losses that result from the use of, inability to use, or unavailability of our Service; (iii) the cost of procurement for substitute products or services; (iv) for interruption of use or loss or corruption of data; (v) for any damage, loss or injury resulting from hacking, tampering, virus transmission or other unauthorized access or use of our Service, or any information contained therein; (vi) for any amounts that exceed the fees paid by you to SatoshiPay under this Agreement during the six (6) month period prior to the cause of action. SatoshiPay shall have no liability for any failure or delay due to matters beyond their reasonable control. The foregoing shall not apply to the extent prohibited by applicable law.

Disclaimer of Warranties

The Service is provided “as is” and “as available”. SatoshiPay and its suppliers and licensors hereby disclaim all warranties of any kind, express or implied, including, without limitation, the warranties of merchantability, fitness for a particular purpose and non-infringement. Neither SatoshiPay nor its suppliers and licensors, makes any warranty that the Services will be error free or that access thereto will be continuous or uninterrupted. You understand that you download from, or otherwise obtain content or services through, our Services at your own discretion and risk.

Our Intellectual Property

This Agreement does not transfer from us to you any of our or third party intellectual property (SatoshiPay IP), and all right, title and interest in and to such property will remain (as between the parties) solely with us. SatoshiPay, its logo, and all other trademarks, service marks, graphics and logos used in connection with our Service, are trademarks or registered trademarks of us or our licensors.

Other trademarks, service marks, graphics and logos used in connection with our Service may be the trademarks of other third parties. Your use of our Service grants you no right or license to reproduce or otherwise use any of our or third-party trademarks. By accepting these Terms, we grant you a personal, limited, at any time revocable and non-transferable license to use the SatoshiPay IP, without the right to sublicense.

You are not allowed rent, lease, sublicense, distribute, transfer, copy, reproduce, download, display, modify or timeshare the SatoshiPay IP or any part thereof. You shall not construct any derivative work based on the SatoshiPay IP, nor shall you translate, reverse engineer, decompile or disassemble the SatoshiPay IP.

Standard Terms

Choice of Law and Court of Jurisdiction

These Terms shall be governed by and construed in accordance with the Laws of England and Wales and will be interpreted in accordance with the English courts without reference to conflict of Law and choice of Law provisions. The English courts shall have exclusive jurisdiction to settle any claim or dispute which might arise out of or in connection with these Terms.

Waivers

Any rights or provisions not explicitly asserted in these Terms do not constitute a waiver thereof. A waiver by either party of any term or condition of this Agreement or any breach thereof, in any one instance, will not waive such term or condition or any subsequent breach thereof.

Assignment

You may not transfer or assign this Agreement, or any rights, receivables or any other claims granted to any third party without our prior written consent. We may assign our rights under this Agreement without condition.

Communication

You hereby acknowledge to accept communications from us in electronic form such as email and other electronic media, including specialized support and communication systems provided by us, and agree that all terms, conditions, agreements, notices, disclosures and other communication that we provide to you electronically will be considered to be “in writing”.

Changes

We are constantly updating our Service, and that means sometimes we have to change the legal terms under which our Service is offered. If we make changes that are material, we will notify you before the changes take effect. The notice will designate a reasonable period of time after which the new Terms will take effect. If you disagree with our changes, then you are obliged to stop using our Service within the designated notice period. Your continued use of our Service will be subject to the new Terms. However, any dispute that arose before the changes shall be governed by the Terms that were in place when the dispute arose.

Severability

If any part of this Agreement is held invalid or unenforceable, that part will be construed to reflect the parties’ original intent, and the remaining portions will remain in full force and effect.

Indemnification

You agree to indemnify and hold harmless SatoshiPay, its contractors, and its licensors, and their respective directors, officers, employees and agents from and against any and all claims and expenses, including attorneys’ fees, arising out of your use of our Service, including but not limited to your violation of this Agreement.

Entire Agreement

These Terms, including the Privacy Policy provided on our website represent the entire understanding between the Parties with respect to the matters discussed. No statement of any party made after conclusion shall be interpreted contrary to the provisions of this Agreement. The headings in these Terms are included for convenience only, and shall not be considered in interpreting these Terms.

Venture Capital Rounds