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PayPal Payments in Outer Space

paypal spacePayPal wants to own universal payments and commerce in space.  As in like, outer space.  Seriously.

Yesterday the company announced “PayPal Galactic”, bringing together leaders in the scientific community to begin developing the future of space commerce.  PayPal CEO David Marcus said there has yet to be a discussion about how people will make payments from space. Currently, NASA provides a team of people to help astronauts pay for bills and make purchases while they are traveling in space, according to Marcus.

“There’s about thousand people on Earth, literally a thousand people, who look after the astronaut on the ground,” he said.

PayPal is interested in solving what standard currency looks like in a cash-free society and also push the conversation towards regulation.  For example, Marcus said space tourism, and the need to pay for things in space, is rapidly approaching as the price of a seat on a spaceship continues to drop.

“You’re in the space hotel three years from now and you want to buy your morning coffee,” Marcus said. “What government is going to regulate that purchase?”

Remind me to take my MasterCard when I drop by the moon.  

DDM

Daily Deal Media covers the growing power of social buying generally called “Daily Deals”. With the explosion of companies like groupon, livingsocial and many others, the way consumers purchase online may have been altered forever. Which companies will emerge as front runners in this space, and who are some of the executives behind them? Which investors stand to gain the most, and which companies have they backed? Daily Deal Media helps you keep up with this fast pace industry, and provides valuable insight, resources, industry reports, forums and more.
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