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July 23, 2019Cart

Business

by Westchester County Business Journal
by WCBJ

Mastercard launches True Card for transgender and nonbinary consumers

Mastercard has announced the introduction of the True Name card, a credit card that enables transgender and nonbinary individuals to use their chosen name for Mastercard payments without requiring a legal name change.

Mastercard noted that it was working with its card-issuing partners on making the True Name card available; the Purchase-headquartered company is not a card issuer itself. In announcing the card, Mastercard stated that many transgender and nonbinary individuals consider credit cards to be a “source of sensitivity, misrepresenting their true identity when shopping and going about daily life.”

The company also pointed to research that showed nearly one-third of transgender and nonbinary individuals who showed identifications with a name and gender that did not match their physical appearance reported being subject to harassment and assault.

“We are allies of the LGBTQIA+ community, which means if we see a need or if this community is not being served in the most inclusive way, we want to be a force for change to help address and alleviate unnecessary pain points,” said Randall Tucker, chief diversity and inclusion officer for Mastercard. “This translates not only for our Mastercard employee community but for our cardholders and the communities in which we operate more broadly. Our vision is that every card should be for everyone.”