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MasterCard Follows Visa in Striking Deal to Avoid PayPal 'Steering'

MasterCard (MA) has joined rival Visa (V) in striking a deal under which PayPal (PYPL) will refrain from urging its customers to draw money directly from their checking accounts rather than credit or debit cards.

The agreement, announced Tuesday, will also make Purchase, N.Y.-based MasterCard a clear payment option on PayPal's platform and let customers move money from their PayPal account to a MasterCard debit card, the companies said. PayPal will no longer be...


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