PayPal Galactic to launch space payments rumour

PayPal GalacticIt’s rumoured that PayPal Galactic is to be announced on the 27th of June as the first way to pay in space. According to the Wall Street Journal PayPal have been working with the National Aeronautics and Space Administration, the Space Tourism Society and the SETI Institute to set up inter-galactic payments.

If true it would be the first of a kind payment solution for the space tourists – over 600 people have already made a $250,000 down payment for a flight on the Virgin Galactic space craft, the world’s first commercial spaceline which aims to be ready for it’s first space flight by the end of 2013. That’s just the test flights though, there’s no fixed date for the first passenger carrying flights and they’ll have to be quick to make a purchase – The Virgin Galactic will only give three to six minutes of weightlessness as it’s a sub-orbital flight and won’t attain full orbit around the Earth.

If PayPal can take care of any delays in processing payments due to distance and the limitations of the speed of light I wonder if they’ll ever sort out e-cheques and get them processed in seconds rather than days?