PURCHASE, N.Y.—Mastercard is introducing a credit card for the LGBTQIA+ community that lets individuals put their “true identity” on their card, instead of their birth name.
When a debit or prepaid card does not reflect a person’s “true identity,” the result for the transgender and non-binary communities can be a misrepresentation of their true identity when shopping and going about daily life, Mastercard said.
“Mastercard is making a commitment to address this challenge by introducing the True Name card. We are working with partners to create a product, as well as a sensitive and private process free of personal questions, that will allow for true names, not deadnames, to appear on cards without the requirement of a legal name change. This will ease a major pain point for the transgender and non-binary community,” Mastercard said. “Mastercard calls on the industry to apply these standards for everyone, ensuring a way for people’s financial products to reflect their true identity.”
‘Negative Experiences’
Overall, 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, the company explained.
“As such, many transgender individuals choose to forego the cost, complexity and anxiety associated with official name and gender changes. Until now, this discrimination has carried through to their cards and payment mechanisms,” Mastercard said.
“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.”