Mastercard Drops Name from its Logo
If Prince can do it, why can’t a credit card company? Much like the famous pop star, Mastercard is now just a symbol.
The company announced they will drop the word “Mastercard” from its logo in select contexts. The new logo will contain the red and yellow interlocking circles without the company name below. In the announcement, the company said, “The Mastercard Symbol represents Mastercard better than one word ever could.”
Raja Rajamannar, chief marketing officer for Mastercard, said that 80% of people recognize the brand’s symbol without any words around it. “We felt ready to take this next step in our brand evolution.”
The Mastercard Symbol has been around since 1966, and once featured the company name running across the two circles. The name moved below the circles in 2016 during the brand’s 50th anniversary.
Converting to just a symbol is a strategic move for Mastercard. The company is looking to de-emphasize the “card” element of their name to focus on alternative methods of payment. Masatercard has developed several contactless payment options, including MasterPass, the company’s digital wallet introduced in 2013.
The restructured logo points to even more digital enhancements in the future.