PayPal Galactic Launch Event with Buzz Aldrin

PayPal GalacticPayPal Galactic launched today, aiming to make universal space payments a reality. The new catch phrase is “We’re everywhere on Earth. Now we’re aiming for the final frontier”.

PayPal President David Marcus and Astronaut and astronaut Buzz Aldrin hosted the launch at the SETI Institute in Mountain View, California.

David Marcus“As space tourism programs are opening space travel to ‘the rest of us’ this drives questions about the commercialisation 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.”

Buzz Aldrin“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 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.”

Do we really need payments in space?

PayPal Galactic might sound like a load of PR bull, but John Spencer, founder and president of the Space Tourism Society claims that “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”.

In reality the need for a galactic payment system already 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. PayPal Galactic want to make these payments not just possible, but easy.