PayPal Goes Galactic: Sets Up To Handle Your Upcoming Space Payments

shockleewebpic_paypalgalacticWith Virgin Galactic selling $250,000 flights to space that are taking place later this year and all the activity that has been taking place with the development of the International Space Station, it was only a matter of time that we’d hear about the first ‘mainstream’ technology solution for those early explorers planning to travel there soon.

Cue, PayPal Galactic who just revealed their plans to be the first interstellar commerce solution to help you with your transactional banking needs in space…

PayPal today announced the launch of PayPal Galactic, an initiative that addresses the issues to help make universal space payments a reality. PayPal Galactic brings together leaders in the scientific community, including the SETI Institute and Space Tourism Society, to prepare and support the future of space commerce.

“As space tourism programs are opening space travel to ‘the rest of us’ this drives questions about the commercialization of space. We are launching PayPal Galactic, in conjunction with leaders in the scientific community, to increase public awareness of the important questions that need to be addressed,” said David Marcus, PayPal’s President. “We may not answer these questions today or even this year, but one thing is clear, we won’t be using cash in space. PayPal has already pushed payments into the Internet, onto phones and across terrestrial borders. We look forward to pushing payments from our world to the next, and beyond.”

“Trips to Mars, the moon, even orbit will require we provide astronauts and astro-tourists with as many comforts from home as possible, including how to pay each other,” said Astronaut and author Buzz Aldrin. “Whether it’s paying a bill, even helping a family member on Earth, we’ll need access to money.  I think humans will reach Mars, and I would like to see it happen in my lifetime.  When that happens I won’t be surprised if people use PayPal Galactic for the little things and the big ones.”

Already the need for a galactic payment system exists. Astronauts inhabiting space stations still need to pay for life’s necessities—from their bills back on Earth to their entertainment, like music and e-books, while in space. 
“Within five to ten years the earliest types of ‘space hotels’ and orbital and lunar commerce will be operational and in need of a payment system,” said John Spencer, founder and president of the Space Tourism Society.

The launch of PayPal Galactic commences in conjunction with the celebration of PayPal’s 15th Anniversary. Founded in 1998, the company has since grown its service of a faster, safer way to pay and get paid online to more than 128 million active accounts in 193 markets.

In case you still weren’t sure if we were living in the future, here is a video of this press conference with a somewhat mysterious cameo from space legend Buzz Aldrin, where they explain the new venture.

Disclosure next?

TumblrLinkedInPinterestShare

Speak Your Mind

*