PayPal Galactic Initiative to Tackle Payments in Space, Paypal Forward
“The time has now come for us to start planning for the future; a future where we aren’t just talking about global payments. Today, we are expanding our vision off Earth into space.
What we once deemed to be science fiction has become a reality. Space travel is opening up for “the rest of us” thanks to Virgin Galactic, Space X and a host of other space tourism programs including the Space Hotel that hopes to be in orbit by 2016. The enabling infrastructure pieces are starting to come together, and as we start planning to inhabit other planets, the practical realities of life still need to be addressed.”
Marc’s update: PayPal Launches PayPal Galactic but We’re Not Sure Why [Watch], SpaceRef
“In what can only be described as a bizarre news conference today, PayPal President David Marcus introduced PayPal Galactic. What is PayPal Galactic? According to Marcus, it’s a visionary program being spearheaded by PayPal to bring together the leaders in the space industry to work on the “big questions” related to the commercialization of space.”

Related: PayPal, SETI Institute, Buzz Aldrin and Space Leaders Launch PayPal Galactic
“Our PayPal Galactic initiative is launching on Thursday, live from the SETI Institute, supported by key organizations in the scientific community. This visionary program, spearheaded by PayPal and working with the SETI Institute, aims to bring together leaders in the space industry to work on the big questions around the commercialization of space. These include:
– What will our standard currency look like in a truly cash-free interplanetary society?
– How will the banking systems have to adapt?
– How will risk and fraud management systems need to evolve?
– What regulations will we have to conform with?
– How will our customer support need to develop?”
Previous: Rumoured: PayPal Galactic

Marc Boucher is an entrepreneur, writer, editor, podcaster and publisher who has worked in space media for more than 25 years. In 1999 he co-founded SpaceRef with Keith Cowing. The new media company grew into a network that included NASA Watch and The Astrobiology Web. After selling SpaceRef, he joined Multiverse Media, which later merged with SpaceNews. There he helped steer the combined company toward more multimedia, a subscription paywall and intelligence products, and pushed for a mobile app. He is also the founder of SpaceQ Media, Canada’s space news and market intelligence publication.

Marc started his first Internet content business in 1992 and hasn’t looked back. When he’s not working, he loves exploring Canada and the world and expanding his photography skills.

2 replies on “Paypal Galactic not Just a Rumour”

  1. “I really can’t see what’s in this announcement. — Marc“

    My guess is that they just want to get a foot in the door. If they work through all the issues now — while there’s no panic and they have the money — then they’ll be set up and running when the competition is just getting started. It also let’s them get all of the industry/regulatory paperwork in place with breathing space for any bureaucratic delays. I think it’s sensible, even if it costs money in the interim. On the first day that their services are actually needed they’ll be able to say: we’ve been in the (off-Earth payments) business for X years; we were first; etc. They’ll have a legal monopoly while the competition scrambles to catch up.

  2. This way NASA doesn’t have to dig out their credit card every time they want to buy a rocket launch, and not only that, they won’t have to update their billing information with each rocket launch provider, just one place – Paypal Galactic. And you pretty much need it for buying anything on Ebay Galactic.

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