Welcome to the Financial Times Lexicon

Browse thousands of words and phrases selected by Financial Times editors and suggest new terms for the glossary.

 

Term of the day

extraterrestrial payment system

In June 2013, PayPal, the online payments giant, launched a subsidiary with SETI (the Search for Extra-Terrestrial Intelligence) to explore possibilities to support space commerce.  PayPal is predicting thousands of tourists will soon be heading into space and in need of some way to make payments for goods on their trip. The first space tourist flight, run by Virgin Galactic, is due to take off in December this year. PayPal and SETI plan to develop an extraterrestrial payment system under a...