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PayPal looks toward final frontier

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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.”

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