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The news have been around since last June, and is now official - the Inside AdWords Blog announced the launch of the beta testing of the Pay-Per-Action program and the Inside AdSense Blog say that they started accepting applications from the AdSense users who want to be part of the program.

[Pay-Per-Action] is considered the optimal form of buying online advertising from a direct response advertiser’s point of view. An advertiser only pays for the ad when an action has occurred. An action can be a product being purchased, a form being filled, etc. [Wikipedia]

The program is currently available to advertisers in the United States, but if you are a publisher, you can now submit your application. The program will eventually open to all advertisers and publishers, but for now, it is limited as it is still in beta.

Learn more about the program on the Inside AdWords Blog and Inside AdSense Blog.