PayPal, SETI Institute, Buzz Aldrin & Space Leaders Launch PayPal Galactic

PayPal, SETI Institute, Buzz Aldrin & Space Leaders Launch PayPal Galactic 
Initiative will address the issues to help make universal space payments a 
June 279am PDT Launch Event with Buzz Aldrin will be available
LIVE at 
SETI INSTITUTE, Mountain View, CA, June 27, 2013 /CNW/ - PayPal today 
announced the launch of PayPal Galactic, an initiative that addresses the 
issues to help make universal space payments a reality. PayPal Galactic brings 
together leaders in the scientific community, including the SETI Institute and 
Space Tourism Society, to prepare and support the future of space commerce. 
The announcement with PayPal President David Marcus and Astronaut and author 
Buzz Aldrin takes place June 27 at 9am PDT at the SETI Institute in Mountain 
View, California. The event will be live streamed at 
and will be available on demand at 4pm the same day at the same location. A 
video explaining the initiative is available in HD and standard definition for 
downloading and sharing immediately at 
"As space tourism programs are opening space travel to 'the rest of us' this 
drives questions about the commercialization of space. We are launching 
PayPal Galactic, in conjunction with leaders in the scientific community, to 
increase public awareness of the important questions that need to be 
addressed," said David Marcus, PayPal's President. "We may not answer these 
questions today or even this year, but one thing is clear, we won't be using 
cash in space. PayPal has already pushed payments into the Internet, onto 
phones and across terrestrial borders. We look forward to pushing payments 
from our world to the next, and beyond." 
"Trips to Mars, the moon, even orbit will require we provide astronauts and 
astro-tourists with as many comforts from home as possible, including how to 
pay each other," said Astronaut and author Buzz Aldrin. "Whether it's paying a 
bill, even helping a family member on Earth, we'll need access to money. I 
think humans will reach Mars, and I would like to see it happen in my 
lifetime. When that happens I won't be surprised if people use PayPal 
Galactic for the little things and the big ones." 
This visionary program, spearheaded by PayPal, working with the SETI 
Institute, aims to bring together leaders in the space industry to work on the 
big questions around the commercialization of space. These include: 

    --  What will our standard currency look like in a truly cash-free
        interplanetary society?
    --  How will the banking systems have to adapt?
    --  How will risk and fraud management systems need to evolve?
    --  What regulations will we have to conform with?
    --  How will our customer support need to develop?

To support the SETI Institute and its mission to improving the understanding 
of life on Earth, and the search for life beyond it, PayPal is launching a 
crowdfunding campaign powered by FundRazr. The SETI Institute's scientists 
play an active role in some of the world's most advanced scientific ventures, 
including groundbreaking studies in astrobiology and radio astronomical 
research with the Allen Telescope Array. Donations to support SETI Institute 
and the science of space can be made at

"PayPal and the SETI Institute are well-matched to work on PayPal Galactic 
because together we can create a recipe for innovation," said Jill Tarter, the 
Bernard M. Oliver Chair for the SETI Institute. "PayPal envisions exploring 
possibilities in space the way that we do, breaking boundaries to make real 
progress. When the SETI Institute succeeds in its exploration of the 
universe, and as we find our place among the stars, PayPal will be there to 
facilitate commerce, so people can get what they need, and want, to live 
outside of our planet."

Already the need for a galactic payment system exists. Astronauts inhabiting 
space stations still need to pay for life's necessities—from their bills 
back on Earth to their entertainment, like music and e-books, while in space.

"Within five to ten years the earliest types of 'space hotels' and orbital and 
lunar commerce will be operational and in need of a payment system," said John 
Spencer, founder and president of the Space Tourism Society.

The launch of PayPal Galactic commences in conjunction with the celebration of 
PayPal's 15(th) Anniversary. Founded in 1998, the company has since grown its 
service of a faster, safer way to pay and get paid online to more than 128 
million active accounts in 193 markets.

Video of the press conference, the 90-second PKG, and the PKG script can be 
found at video at

Follow us on Twitter at @PayPalCA and via hashtag #paypalgalactic. 

About PayPal
PayPal is the faster, safer way to pay and get paid online, via a mobile 
device and in store. The service gives people simpler ways to send money 
without sharing financial information, and with the flexibility to pay using 
their account balances, bank accounts or credit cards. With 128 million active 
accounts in 193 markets and 25 currencies around the world, PayPal enables 
global commerce, processing more than 7.6 million payments every day. Because 
PayPal helps people transact anytime, anywhere and in any way, the company is 
a driving force behind the growth of mobile commerce and expects to process 
$20 billion in mobile payments in 2013. PayPal is an eBay (Nasdaq:EBAY) 
company and contributed 40 per cent of eBay Inc.'s revenues in 2012. PayPal is 
headquartered in San Jose, Calif. and its international headquarters is 
located in Singapore. More information about the company can be found at  

The SETI Institute is a leading private research organization dedicated to 
expanding human knowledge of the universe and the search for life, including 
intelligent life, beyond our world. The non-profit institute comprises three 
centers: the Center for SETI Research, the Carl Sagan Center for the Study of 
Life in the Universe, and the Center for Education and Public Outreach. 
Founded in November 1984, the SETI Institute employs over 150 scientists, 
educators, and support staff who share the unique mission to seek out evidence 
of life in the universe, as well as the passion to ensure humanity's 
understanding of its origin. For more information, please visit 
or call 650-961-6633.

Malini Mitra PayPal Canada 416.969.2277

Natasha Newell-Vieira MSL Canada 416.847.1335

Video with caption: "Video: PayPal, SETI Institute, Buzz Aldrin & Space 
Leaders Launch PayPal Galactic". Video available at:

Image with caption: "The evolution behind the way money moves across the 
globe, from paper to plastic and beyond. (CNW Group/PayPal)". Image available 


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CO: PayPal
ST: California

-0- Jun/27/2013 18:15 GMT

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