READ: Apple's Music Store Now Accepts PayPal

Apple Computer Inc.'s online music store, iTunes, will now accept PayPal for purchases of music downloads, audiobooks and gift certificates. PayPal, which is owned by eBay Inc., allows any individual or business with an email address to send and receive payments online.

Apple's vice president of applications, Eddy Cue, said Friday the deal with PayPal would bring more customers to iTunes. "PayPal already has millions of customers who are used to buying online," he said.

Apple hopes to get these customers to buy music at iTunes and in the process draw some new users to the online music store. PayPal would receive fees from Apple for facilitating payments on iTunes, but the companies didn't disclose specific financial terms.

Full story: The Associated Press