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 www.paypal-galactic.com
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 www.paypal-galactic.com
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 www.paypal-galactic.com.
"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
-- 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 www.seti.org/curiositymovement
"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 www.paypal-galactic.com
Follow us on Twitter at @PayPalCA and via hashtag #paypalgalactic.
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
About the SETI INSTITUTE
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 www.seti.org
or call 650-961-6633.
Malini Mitra PayPal Canada 416.969.2277 Malini.firstname.lastname@example.org
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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