Shift4 Payments announced on Wednesday, November 10, it signed a 5-year deal with SpaceX to process payments globally for the Starlink broadband business. “Starlink is a cornerstone, global client opening up opportunity throughout the globe. By servicing the business globally, Shift4′s [total addressable market] expands in all the verticals we serve,” the company said in a letter to investors, according to CNBC news.
Shift4 Payments was founded by Jared Isaacman, who purchased a trip to outer space aboard SpaceX’s Crew Dragon spacecraft. He made history serving as the commander for the Inspiration4 mission that became the first ever all-civilian spaceflight to orbit Earth for three days. Isaacman invited a crew of inspiring individuals to see breathtaking views of our beautiful planet from orbit and inspire the public to donate to St. Jude Children’s Research Hospital. They lifted off atop a SpaceX Falcon 9 rocket from NASA's Kennedy Space Center Launch Pad-39A in September and surpassed their fundraising goal of $200 million.
Isaacman's bond with SpaceX is set to grow in the years to come with the new partnership. Shift4 published an outline of their '5 year global strategic partnership with SpaceX Starlink', which briefly states plans to transition SpaceX’s domestic (U.S.) Starlink business payments to the Shift4 platform within the next 120 days. "Congrats Shift4 team! We are going global … and probably not stopping there. When people are paying for things on the Moon & Mars, Shift4 should be there too. Boldly Forward," Isaacman said via Twitter. “SpaceX has a restaurant and a few other hospitality venues in the works in Starbase, Texas, and you can count on our new Skytab [point-of-sale] powering commerce at those establishments,” he shared with investors during the Shift4 earnings call this week.
Congrats @Shift4 team! We are going global 🌎 and probably not stopping there. :)— Jared Isaacman (@rookisaacman) November 10, 2021
When people are paying for things on the Moon & Mars, Shift4 should be there too. 🚀💳
Boldly Forward. https://t.co/eWmTwb3eBK
SpaceX operates approximately 1,740 internet-beaming Starlink satellites in Low Earth Orbit, out of 20,000 that will comprise the network. Currently SpaceX beams internet service to over 100,000 customers across at least 16 countries, including: Australia, Austria, Belgium, Canada, Chile, Denmark, France, Germany, Ireland, Netherlands, New Zealand, Portugal, Switzerland, United States, United Kingdom, and service became available in Mexico last week. Shift4 expects to gain access to the global market through SpaceX Starlink transactions. In the outline (pictured below), the company states the partnership with SpaceX’s Starlink division "opens up a massive pool of global commerce opportunities". Shift4 mentions Morgan Stanley’s forecast about SpaceX’s Starlink business which estimates Starlink could potentially earn $100 billion in Starlink internet subscription payments long-term.
Featured Image Source: SpaceX