Terms of Service

Last updated: 17 March 2026

1. Introduction & Acceptance

These Terms of Service (“Terms”) govern your access to and use of the LobsterPay application, website, and related services (collectively, the “Service”) provided by LobsterPay Ltd (“we”, “us”, or “our”), a company registered in England and Wales.

By creating an account or using the Service, you agree to be bound by these Terms. If you do not agree, you must not use the Service.

2. Definitions

  • Service — the LobsterPay mobile application, API, and associated infrastructure that enables programmable spend wallets for AI agents.
  • Owner — an individual who registers for an account and creates, funds, and controls one or more Wallets.
  • Agent — an AI agent or automated system authorised by an Owner to make spend requests against a Wallet, subject to Spending Rules.
  • Wallet — a GBP-denominated digital wallet funded by the Owner and assigned to one or more Agents.
  • Spending Rules — the configurable policies and limits set by the Owner that govern how an Agent may transact, including per-transaction limits, daily limits, merchant restrictions, and time-based controls.
  • Policy Engine — the automated system that evaluates each spend request against the applicable Spending Rules and determines whether to approve, decline, or escalate the transaction for Owner review.
  • Transaction — any authorised payment, decline, or refund processed through the Service.
  • Approval Request — a notification sent to the Owner when a spend request requires manual review.

3. Eligibility

To use the Service you must:

  • Be at least 18 years of age;
  • Be a resident of the United Kingdom;
  • Have the legal capacity to enter into a binding agreement; and
  • Not be prohibited from using the Service under applicable law.

4. Account Registration

You register for the Service using Apple Sign In. You must provide accurate and complete information during registration and keep your account details up to date.

You are responsible for maintaining the security of your account credentials and for all activity that occurs under your account. You must notify us immediately at support@lobsterpay.app if you become aware of any unauthorised use.

We may require identity verification (KYC) before enabling certain features, in compliance with applicable regulations.

5. Service Description

LobsterPay provides programmable spend wallets for AI agents. The Service enables Owners to:

  • Create and fund GBP wallets;
  • Delegate spending authority to AI agents;
  • Define Spending Rules that control how agents may transact;
  • Review and approve transactions that require manual authorisation; and
  • Monitor transaction history and wallet balances in real time.

All spend requests are evaluated by our Policy Engine, which applies the Owner’s Spending Rules alongside security and risk checks to determine whether a transaction should be approved, declined, or escalated.

6. Wallets & Funding

Wallets are denominated in British Pounds Sterling (GBP) only. Funding is processed via Stripe and may be completed using a debit card or bank transfer. Credit card funding is not permitted.

Wallet balances are not deposits and are not protected by the Financial Services Compensation Scheme (FSCS). Funds in your Wallet are held in a client money account in accordance with applicable regulations.

You may withdraw funds from your Wallet at any time, subject to any pending transactions or holds. Withdrawals are returned to the original funding source.

7. Agent Delegation & Spending Rules

You may delegate spending authority to one or more AI agents by assigning them to a Wallet and configuring Spending Rules. You acknowledge and agree that:

  • You remain fully responsible for all transactions initiated by any Agent operating under your account, regardless of whether the transaction was intended or expected;
  • Spending Rules are tools to help manage Agent activity but do not guarantee prevention of all unintended transactions;
  • You must regularly review Agent activity and adjust Spending Rules as appropriate; and
  • We may automatically freeze an Agent that exceeds certain decline thresholds as a security measure.

8. Transaction Authorisation & Policy Engine

Each spend request submitted by an Agent is evaluated by our Policy Engine, which applies up to 13 evaluation stages including balance checks, rate limits, merchant restrictions, time-based controls, and risk scoring.

Authorisation decisions are made in real time and are final. We reserve the right to decline any transaction that we reasonably believe violates these Terms, applicable law, or poses a security risk.

Transactions that cannot be automatically approved or declined may be escalated to you as an Approval Request. Approval Requests have an expiry time, after which they will be automatically declined.

9. Fees

The Service is currently provided without transaction fees or subscription charges. We reserve the right to introduce fees in the future, and will provide you with at least 30 days’ written notice before any fees take effect.

Third-party fees (such as payment processor charges) may apply and are your responsibility. Any applicable fees will be clearly disclosed before you complete the relevant action.

10. Prohibited Uses

You must not use the Service to:

  • Violate any applicable law or regulation;
  • Fund or facilitate illegal activity, including money laundering, terrorist financing, or fraud;
  • Process transactions on behalf of third parties without authorisation;
  • Circumvent or attempt to circumvent Spending Rules, security measures, or transaction limits;
  • Interfere with or disrupt the Service or its infrastructure;
  • Reverse-engineer, decompile, or otherwise attempt to extract the source code of the Service;
  • Use the Service for any purpose that is harmful, deceptive, or abusive; or
  • Create multiple accounts to circumvent restrictions or limitations.

11. Intellectual Property

All intellectual property rights in the Service, including the application, website, branding, logos, and underlying technology, are owned by or licensed to LobsterPay Ltd. Nothing in these Terms grants you any right, title, or interest in our intellectual property except the limited right to use the Service in accordance with these Terms.

You retain ownership of any data you submit to the Service. By using the Service, you grant us a limited licence to process your data solely for the purpose of providing and improving the Service.

12. Limitation of Liability

To the maximum extent permitted by law:

  • The Service is provided “as is” and “as available” without warranties of any kind, whether express or implied;
  • We do not warrant that the Service will be uninterrupted, error-free, or free of harmful components;
  • We shall not be liable for any indirect, incidental, special, consequential, or punitive damages arising out of or related to your use of the Service;
  • Our total aggregate liability to you for any claims arising out of or related to these Terms or the Service shall not exceed the total amount of fees paid by you to us in the 12 months preceding the claim; and
  • We shall not be liable for any losses arising from transactions initiated by your Agents, including transactions that were approved by the Policy Engine in accordance with your Spending Rules.

Nothing in these Terms excludes or limits our liability for death or personal injury caused by our negligence, fraud or fraudulent misrepresentation, or any other liability that cannot be excluded or limited by law.

13. Termination

You may close your account at any time by contacting us at support@lobsterpay.app. Upon closure, any remaining wallet balance will be returned to your original funding source, subject to any pending transactions.

We may suspend or terminate your account at any time if we reasonably believe you have violated these Terms, if required by law, or to protect the security or integrity of the Service. Where possible, we will provide notice before taking such action.

Upon termination, your right to use the Service ceases immediately. Sections that by their nature should survive termination (including liability, intellectual property, and governing law) will continue to apply.

14. Changes to These Terms

We may update these Terms from time to time. We will provide you with at least 30 days’ notice of any material changes by email or via in-app notification. Your continued use of the Service after the effective date of the revised Terms constitutes acceptance of the changes.

If you do not agree with the revised Terms, you must stop using the Service and close your account before the changes take effect.

15. Governing Law

These Terms are governed by and construed in accordance with the laws of England and Wales. Any disputes arising out of or in connection with these Terms shall be subject to the exclusive jurisdiction of the courts of England and Wales.

16. Contact

If you have any questions about these Terms, please contact us at:

LobsterPay Ltd
Email: support@lobsterpay.app