Mastercard drops name from its logo
Mastercard has updated its logo by removing the brand name from the interlocking red and yellow circles where it has resided for more than 50 years.
Mastercard Inc, which has offices in London, joins a small core of brands like Nike and Apple that rely on image, rather than words, for its marketing materials.
“A picture communicates better than words,” said Allen Adamson, co-founder of the marketing strategy firm Metaforce. “And they have the distinct advantage of having one of the most recognizable icons in the world.”
The company, which has its headquarters in New York, said that 80 per cent of people recognize the Mastercard logo even when its name isn’t present.
Analysts say the change highlights the changing nature of exchanging currency - and that by dropping the name Mastercard is preparing for a cardless future.
One of the original major credit card companies, formerly known as Master Charge, Mastercard has attempted to rebrand itself in recent years as a “technology company in the global payments industry.”
Adamson said the new wordless logo is a reflection of the tech-centric world we live in.
“Evolving the logo into an app-like icon also fits in line with how younger consumers are connecting to the world around them,” Adamson said.