Yes, the Website Payments Standard is the way to go.
Basically, you create a form that has a few hidden fields ready to go (such as amount and what not) and then submit it. You could even submit this with JavaScript, so it takes your customer right to PayPal to complete the transaction.
As an example:
<form action="https://www.paypal.com/cgi-bin/webscr" method="post">
<input type="hidden" name="cmd" value="_xclick" />
<input type="hidden" name="business" value="your_paypal_email_account" />
<input type="hidden" name="undefined_quantity" value="1" />
<input type="hidden" name="item_name" value="Order #1111111 for So-and-So" />
<input type="hidden" name="item_number" value="order_1111111" />
<input type="hidden" name="amount" value="5.00" />
<input type="hidden" name="shipping" value="0.00" />
<input type="hidden" name="no_shipping" value="1" />
<input type="hidden" name="cn" value="Comments" />
<input type="hidden" name="currency_code" value="USD" />
<input type="hidden" name="lc" value="US" />
<input type="hidden" name="bn" value="PP-BuyNowBF" />
<input type="hidden" name="return" value="http://www.example.com/some-page-to-return-to" />
<input type="image" src="https://www.paypal.com/en_US/i/btn/btn_buynow_SM.gif" border="0" name="submit" alt="Make payments with PayPal - it's fast, free and secure!" />
<img alt="" border="0" src="https://www.paypal.com/en_US/i/scr/pixel.gif" width="1" height="1" />
</form>
You can find documentation on the additional parameters available here: https://www.x.com/sites/default/files/pp_websitepaymentsstandard_integrationguide.pdf