PayPal Launches ‘Galactic’ Program To Tackle Payments In Space

Posted on Jun 27 2013 - 3:25pm by Editorial Staff

PayPal Galactic

PayPal today unveiled its “Galactic” program to get payment systems ready for the commercialization of space. The move means the company is in full swing to develop a new initiative by which it will explore the future of inter-galatic payments. Not only this, but the company has also partnered with number of leading scientific organizations, including SETI Institute, the Space Tourism Society and Buzz Aldrin.

The company’s “Galactic” program aiming to bring together leader in the space industry and work on the following issues:

  • 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?

The answer or at least some more information will be detailed out soon as the company will be going to make live streamed announcements on Thursday at 9:00 AM PDT while the full coverage will be available at paypal-galactic.com.

Photo Credit: PayPal

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Editorial Staff

Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.