Facebook said today it will allow advertisers to pay for ads on its network using PayPal.
The two companies have entered into a strategic relationship that will allow advertisers worldwide to use PayPal to pay for Facebook Ads through the company's online advertising tool.
The option to use PayPal makes it easier for advertisers, particularly small international companies, to run campaigns on Facebook. Facebook reaches 400 million people globally, with 70 percent of those living outside the United States.
"Put simply, PayPal's business is payments. We make it easier for customers to send and receive money online in 24 currencies and 190 markets around the world," said Osama Bedier, PayPal's vice president of platform and emerging technology.
"We've always been an important part of the developer ecosystem on Facebook, and we're excited to expand our relationship directly with Facebook to help grow advertisers' and developers' businesses."
PayPal will also become a payment option for Facebook Credits, which is currently being tested in a handful of games and applications. Facebook says the goal is to give users a fast and easy way to buy virtual goods on the site.
In December PayPal launched a "send money" application on Facebook that allowed users to send money to anyone with an email address.