| Business

Larger text Larger text Smaller text Smaller text | Order Photo Reprints

PayPal looks toward final frontier

Email Newsletters

Sign up for one of our email newsletters.

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

By The Associated Press
Friday, June 28, 2013, 12:01 a.m.

PayPal wants to explore space — or at least 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, said it is starting an initiative called PayPal Galactic with the help of the nonprofit SETI Institute and the Space Tourism Society, an industry group focused on space travel. Its goal, PayPal said, is to work out how commerce will work in space. Questions to be answered include how commerce will be regulated and what currency will be used.

“We feel that it's important for us to start the conversation and find answers,” said David Marcus, the company's president. “We don't have that much time.”

Subscribe today! Click here for our subscription offers.



Show commenting policy

Most-Read Business Headlines

  1. Pennsylvania Game Commission reaps revenue from shale gas under game lands
  2. University of Pittsburgh researchers revisit war of electric currents
  3. As historic breakup nears, Alcoa works to redefine its ‘advantage’
  4. Energy Spotlight: Minking Chyu
  5. Small stores take big gamble by not upgrading credit card readers
  6. Older workers try to cut back on hours at job
  7. Program lets public service workers be forgiven for student debt
  8. Yahoo investors losing patience with ‘star’ CEO Marissa Mayer
  9. Batteries key to alternative energy’s success
  10. Nutritional supplement makers, led by GNC, want to create voluntary safety standards
  11. Shopping beacons join list of ‘next big thing’ disappointments