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Friday, December 10, 2004, 12:20 pm PT (03:20 pm ET)

iTunes Music Store now accepts PayPal

Apple and PayPal today announced that the iTunes Music Store in the US will now accept PayPal for purchases of music downloads, audiobooks and gift certificates.

Starting today, iTunes Music Store purchases can be funded through PayPal’s virtual wallet, allowing customers to pay in the way they prefer—using a credit card, bank account or stored account balance. The first 500,000 customers to open a new iTunes account in the US using PayPal as their form of payment before March 31, 2005, will receive five free songs.

"We are thrilled that PayPal users can now buy their music on the world’s number one online music store," said Todd Pearson, general manager of PayPal’s Merchant Services. "PayPal’s virtual wallet offers iTunes customers the convenience of paying in the way they prefer."

With Apple's ease of use and features such as iMix playlist sharing, integration with iPod and personal use rights, the iTunes Music Store is one of best ways for PC and Mac users to legally discover, purchase and download music online. The iTunes Music Store features more than one million songs from the major music companies and 600 independent record labels, over 9,000 audiobooks, gift certificates and exclusive music not found anywhere else online.

PayPal, an eBay Company, enables any individual or business with an email address to securely, easily and quickly send and receive payments online. PayPal's service builds on the existing financial infrastructure of bank accounts and credit cards and utilizes the world’s most advanced proprietary fraud prevention systems to create a safe, global, real-time payment solution.

Founded in 1998, PayPal has more than 56 million accounts and is available to users in 45 countries around the world.