Battle.net Balance will allow you to buy various blizzard products like: gcd-keys, paid game services ( character realm transfer ), pre-paids, in-game pets and mounts and even buy / sell items from Diablo III real money auction house.
How does it works? its pretty simple. In your Battle.net account you can now find new "Balance" button (look screen below) where you can "Load Balance".
Note that Balance on your B.net account is not refundable, so it's one way ticket!
Payment methods are limited mostly to Credit Cards at the moment, but Balance feature itself open new possibilities, like B.net balance prepaid's, gift-cards and much more, so we can probably expect more Battle.net balance" related features in future (this is of course pure speculation).
For more information about Balance feature visit Battle.net Balance FAQ or head to the Battle.net Balance page
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