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PayPal Galactic Gets Ready for Outer-Space Travel

Celebrities are already signing up for suborbital trips


spacexIt turns out that eBay‘s (EBAY) online payment service PayPal is aiming for the final frontier.

The online payment processor is hoping to get in on the ground floor of space tourism. Under a new program — optimistically titled, PayPal Galactic — the company is working with space travel enthusiast groups to determine how people will spend money once they reach orbit, the Associated Press notes.

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Perhaps not coincidentally, PayPal’s billionaire founder, Elon Musk, runs SpaceX, also known as Space Exploration Technologies, which has partnered with the National Aeronautics and Space Administration (NASA) to design a replacement vehicle for the recently retired space shuttle fleet. He is also CEO of electric car company Tesla Motors (TSLA).

In partnership with the Space Tourism Society, PayPal will examine potential regulatory hurdles, technology requirements and the implications of interplanetary financial transactions.

Interest in space tourism is growing. British billionaire Richard Branson’s Virgin Galactic, which hopes to soon send guests on suborbital flights, has already signed up a number of celebrities, including Justin Bieber.

Article printed from InvestorPlace Media,

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