Apple embraces PayPal by adding it as a payment option in the App Store and iTunes

PayPal, one of the world's biggest payment portals, has finally been embraced by Apple and can now be used to pay for items and subscriptions in the App Store, iTunes and iBooks. Apple announced this today for all of its platforms and mentioned that it will be rolling out to more regions as time progress, including to those in the United States.

As of today, people in the UK, the Netherlands, Germany, Mexico and Canada can add the payment method to their Apple ID. This move will allow those who do not have access to a credit card - the current default way to pay besides gift cards - to gain access to a slew of Apple services and content easily. Your PayPal account can be linked directly to a banking account as well, and PayPal offers several security features that can prevent fraudulent transactions taking place.

To add this to your Apple account, all you need to do is go to your 'Payment Options' page under 'Settings' in iTunes and link your account, and all future payments will automatically be charged to your PayPal account and it will use the authentication process that Apple users are familiar with.

PayPal's share price has hit an all-time high of $56 after this deal became official.

Source: The Verge | Image via The Verge