As the Android Developers Blog indicates, Google's Android Market, found on their Android mobile OS, is now accepting paid applications from developers in the US and the UK, and said applications will become available next week.
Having the Android Market accept paid applications is an excellent step in providing an opponent for Apple's App Store, as many developers don't want to put time, money and effort into making applications that will given away for free. Allowing them to choose a price for their applications gives them incentive, and in turn will lead to growth of Google's store.
The method of payment and billing for these applications will be via Google Checkout. For those not in the US or the UK, don't fret. Google has said that support for paid applications will be coming to Germany, Austria, Netherlands, France, and Spain by the end of Q1 this year.
Additionally, it was said that Google's Android market for free applications is coming to Australia on February 15th, Pacific Time, and Singapore will be added in the coming months.
If you're a developer interested in this, head over to Android Market help.