The PS3 now has another payment option in the form of PayPal. Sony enabled PayPal funding for the PlayStation Store back in January, but the process of adding money was limited to the Sony Entertainment Network website. Today, you can transfer money from your PayPal balance to your PSN wallet directly from the console.
You can set up a money transfer when you try to check out from the PlayStation Store on PS3. You’ll be prompted to sign in to your PayPal account to complete the process. You can transfer as little as $5, and as much as $150.
This is a convenient option for those who don’t have a credit or debit card. You can still purchase PSN gift cards and do all your funding that way if you don’t want to get involved with PayPal.
PayPal accounts are free to set up. There are also PayPal My Cash Cards that can be used to ad money to PayPal without needing a bank account or credit card.
Source [PlayStation Blog]