iTunes jingle for PayPal

iTunes jingle for PayPal

US customers of Apple's online music store iTunes are now able to fund their purchases using PayPal's virtual wallet.

The agreement between the two firms represents a further step in PayPal's attempts to move beyond the online auction business and diversify into new markets. About 70% of PayPal transactions are made at parent auction site eBay.

The iTunes Music Store features more than a million songs from major music companies and 600 independent labels.

Todd Pearson, general manager of PayPal's merchant services, comments: "PayPal's virtual wallet offers iTunes customers the convenience of paying in the way they prefer."

As an added incentive, the first 500,000 customers to open a new iTunes account in the US using PayPal as their form of payment, will receive five free songs.

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