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PayPal accepted on iTunes

Users of the iTunes Music Service can now buy songs using their PayPal virtual wallet.

The first 500,000 PayPal and iTunes users before March 31, 2005 will receive five free songs.

PayPal allows customers to pay for downloading songs using a credit card, bank account or stored account balance. PayPal then takes a percentage from each transaction to support itself. PayPal has 56m registered users in 45 countries and about 70 percent of its business comes from transactions on eBay.

Editors thoughts:
ITunes teaming up with PayPal seems like a great way to combat NapsterÕs wide spread use of gift cards. Napster has a leg up by having a tangible item to give away at Christmas and so forth but iTunes just opened itself to another 56m people (although many may have already used iTunes before) that are technically affluent and purchase things online.

For the full story:
The Register - iTunes now accepts PayPal