I found nothing on stackoverflow for a Google Play Store error "DF-BPA-10", but I was able to resolve the issue and am posting this question and answer for anyone who runs into the same issue.
This issue occurred on my Samsung Galaxy SIII running Jelly Bean (4.1.1), but other devices may be affected.
Upon accepting terms and conditions for applications, an error notification appears stating "Error processing purchase: [DF-BPA-10]". Neither restarting the device nor force stopping the Play Store resolves the error.
In order to resolve the error, perform the following:
You should now be able to install applications without the DF-BPA-10 error.
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