Mastercard True Name® Feature Expands Across the Globe Supporting Transgender and Non-Binary Communities Worldwide
June 09 2021 - 8:00AM
Business Wire
Deployments with leading payments fintech Global Payments, as
well as additional partners across Europe and North America help
ensure cardholders worldwide can leverage their preferred name on
their Mastercard cards
As PRIDE month kicks off, Mastercard is proud to announce the
expansion of its True Name® card feature across the globe as Global
Payments, a leading provider of payment technology and software
solutions, implements this feature for its TSYS issuer customers.
In addition, Mastercard partners across Europe and North America
will enable cardholders to leverage their chosen name on their card
offerings, including bunq and Monzo as the first issuers to
implement in Europe and expanded deployment in North America
through BM Technologies, Inc. (BMTX) and Republic Bank & Trust
Company.
For many people around the world, the identity printed on their
cards does not reflect who they truly are. True Name from
Mastercard has been designed to change that, enabling people to
display their preferred name on their card. As Mastercard seeks to
achieve ubiquity for True Name across all card offerings, the
collaboration with Global Payments ensures deeper market
penetration.
True Name Enablement Expands in Launch Market North
America: True Name continues to expand within North America,
the introductory market for the feature, as partners across the
region commit to enabling True Name for their cardholders. New
deployments in the region include BM Technologies, Inc. (BMTX) and
community institution Republic Bank & Trust Company who join
BMO Harris and Citi in enabling True Name for their
cardholders.
“We are excited to partner with Mastercard’s initiative of
fostering a more inclusive and diverse community by providing our
issuers and their cardholders the opportunity to participate in the
True Name program,” said Gaylon Jowers, Senior Executive Vice
President, Global Payments and President, TSYS Issuer Solutions.
“We have a longstanding record of providing innovative solutions
that put people at the center of payments.”
“We are proud that Mastercard is partnering with BM Technologies
(BMTX) on its True Name initiative, which will become part of our
white label banking product offering,” stated Luvleen Sidhu, Chair,
CEO and Founder of BM Technologies (BMTX). “Diversity and inclusion
are fundamental components of our company and we hope our banking
experience makes all of our customers feel empowered both
individually and financially.”
True Name Achieves First Deployments Across Europe: True
Name is expanding into the European market with the card feature
being made available via challenger bank bunq in 30 markets across
Europe. In addition, challenger bank Monzo becomes the first U.K.
based issuer to partner with Mastercard on the True Name
initiative, having enabled its customers to leverage their
preferred name on their Monzo card and in the Monzo app since
2016.
“At bunq we believe in the freedom to live your life the way you
want to,” said Ali Niknam, CEO and founder of bunq. “True Name
helps ensure that everyone who chooses to bank with bunq is able to
do just that, enabling the use of your chosen name on your bunq
banking solutions. We’re thrilled to join Mastercard in this
important initiative.”
“Inclusion is the foundation of what we stand for as a company,
which is why we continue to call on the industry to join this
effort and enable cardholders to leverage their chosen name because
everyone deserves financial products that reflect their true
identity,” said Cheryl Guerin, EVP of Marketing and Communications
in North America for Mastercard.
True Name has no incremental compliance requirements above
typical credit or debit card programs, making implementation with
Mastercard simple. Accessibility and enablement are vitally
important to the LGBTQIA+ community. Nearly one-third (32%) of
individuals who have shown IDs with a name or gender that did not
match their presentation reported negative experiences, such as
being harassed, denied services, and/or attacked**.
For more information on global inclusion and diversity at
Mastercard, click here.
* Source: James, S. E., Herman, J. L., Rankin, S., Keisling, M.,
Mottet, L., & Anafi, M. (2016). The Report of the 2015 U.S.
Transgender Survey. Washington, DC: National Center for Transgender
Equality.
About Mastercard (NYSE: MA), www.mastercard.com
Mastercard is a global technology company in the payments
industry. Our mission is to connect and power an inclusive, digital
economy that benefits everyone, everywhere by making transactions
safe, simple, smart and accessible. Using secure data and networks,
partnerships and passion, our innovations and solutions help
individuals, financial institutions, governments and businesses
realize their greatest potential. Our decency quotient, or DQ,
drives our culture and everything we do inside and outside of our
company. With connections across more than 210 countries and
territories, we are building a sustainable world that unlocks
priceless possibilities for all.
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version on businesswire.com: https://www.businesswire.com/news/home/20210609005225/en/
Sarah Ely, Mastercard +1(914) 249-6714 |
sarah.ely@mastercard.com
Margaret Williams, Mastercard +1(914) 249-2926 |
margaret.williams@mastercard.com
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