Frequent flyers can now convert their airline miles to cash via PayPal and Points.com. Consumers can redeem their American Airlines, US Airways and Aeroplan miles for cash that will be deposited into their PayPal accounts through Points.com.

PayPal account-holders can then use the money in their PayPal accounts as they normally would to make a purchase or move it into their PayPal-linked bank account. In addition to Points.com, select MyPoints users and StarChoice users can also liquidate reward points for money into their PayPal accounts.

See the PayPal blog for the full announcement.

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