In addition to payment with credit or debit cards, you can now complete your purchase with a PayPal transaction.
There is more good news - in addition to the PayPal purchase, you can also opt for PayPal's Credit for up to 18 months, interest free.
PayPal has been an option for Apple's App Store and iTunes Store, so it was really about time we see it premiere on its official Online Retail Store.
For now, you can use PayPal only for purchases in the USA and the UK, but it should roll out in other markets shortly as well.
With PayPal now available, this will also loosen the Apple's restrictions - even non UK/US residents will be able to buy stuff from the Store, but they still need to be shipped within the US/UK.
Now that Apple is trying to push its Apple Pay service aggressively in the USA and later - worldwide, it will be interesting to see how long PayPal sticks around.