July 7, 2013

PayPal looks to conquer space (payments)


NEW YORK — PayPal wants to begin to figure out how payments and commerce will work beyond Earth’s realm once space travel and tourism take off.

PayPal, which is eBay Inc.’s payments business, is launching a PayPal Galactic initiative with help from the nonprofit SETI Institute and the Space Tourism Society, an industry group. The goal is to determine how commerce will work in space. Issues include regulation and what currency will be used.

PayPal’s president, David Marcus, said that while space tourism was once the stuff of science fiction, it’s becoming a reality.

‘‘There are lots of important questions that the industry needs to answer,’’ he said.

Read more: PayPal looks to conquer space (payments

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