I believe the recently announced Wufoo integration does this as well, but it appears this flow is more elegant.
It strikes me as very sad that in bringing down a monopoly (Paypal), already you are advocating price collusion amongst the new players in the industry...
Though (perhaps thankfully, given the response to my post) the relatively simple nature of this means that its (if not now then soon) going to be a price-competitive industry anyway.
What, you spent 4 months working on that app? Dammit 1.99 is just too much to pay for that. Oh it's free? What the heck are these ads doing here. I hate your ads. Go F* yourself. Seriously. I got a support email today that told me to "Fuck off" because of the ads in one of my free apps. The race to the bottom isn't a good thing for anyone.