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 announced 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,” according to the press release.
„As Mastercard seeks to achieve ubiquity for True Name across all card offerings, the collaboration with Global Payments ensures deeper market penetration,” the company explains.
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.
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**.
* 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.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
