Payment Gateways in Outer Space?

Published: Jul 16, 2013
Payment Gateways in Outer Space?
Image: Corbis

Paypal, one of the largest global online payment companies and a part of eBay Inc., is going from cyberspace to outer space. By launching Paypal Galactic, it wants to explore how commerce would take place once space tourism takes off. For instance, as ‘orbital’ hotels open for travellers, they will need a payment system. What would that look like? Paypal is partnering with the non-profit SETI Institute and the Space Tourism Society to look for answers to tricky questions on regulation, technology and safety.

India is one of the top five space-faring nations in the world. However, its space agency, Isro, is averse to participating in space tourism. But it must keep its doors open since nobody knows how trade will take place in boundary-less space.

 

(This story appears in the 26 July, 2013 issue of Forbes India. You can buy our tablet version from Magzter.com. To visit our Archives, click here.)

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