Majority of UK Smartphone Owners Open to Mobile Wallets Says Survey

If we ever do discover a galaxy far, far away, then PayPal wants to be in the middle of those transactions whether they involve U.S. dollars, Corellian Credits, or Darseks. No word yet if E.T.’s home world uses bitcoins.

In a completely series announcement Thursday, PayPal said it is working with groups such as the SETI Institute, the Space Tourism Society, and even former astronaut Buzz Aldrin to finds ways to pay for goods and services in space. PayPal’s new space mission is name PayPal Galactic.

From Finextra:

John Spencer, president, Space Tourism Society, says: “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.”

The programme will try to answer questions such as what will the standard currency look like in a cash-free interplanetary society, how will the banking systems have to adapt, how will risk and fraud management systems need to evolve, and what will regulations look like.

Click here to read more from Finextra.