MasterCard recently announced it will be dropping its name from the logo, this decision comes after 50 years of having its former logo. Their new logo will just be its Venn diagram of the red, yellow and orange circles. The dropping of the name MasterCard from its logo is also said to represent the company shedding its dedication and identity that’s tied to plastic. By shedding the name from the logo, MasterCard is hoping to put its brand in the category of other nameless brands like Nike, Apple and Target.
Why MasterCard Dropped Its Name from their Logo
According to MasterCard their new wordless logo isn’t just trying to convey the fact that the company has become so popular that consumers can easily identify the brand without their name. But the new logo shows the company is increasingly shifting its branding strategy. The brand is shifting its strategy to better prepare for a post credit card world where digital payments will reign.
According to statements, MasterCard claims the new logo reflects modern simplicity and that it effectively represents the brand better than the one word could ever do. Another major reason the credit card company cited for changing its logo was that the logo could seamlessly fit across all digital landscapes. In an interview the brand stated that the new logo shows that the company is more than just credits. With the new logo, they are trying to show that the brand can make a seamless transaction into the digital payments space. In an interview a MasterCard rep stated that with this new logo, the brand is trying to optimize a very small piece of real estate on a very small piece of glass. He said that it might not be even be on mobile phone but could be on a watch.
MasterCard Speaks on the Name Drop
The Chief Marketing and Communications officer Raja Rajamannar, said that the company has conducted research for the past two years to ensure people can identify the brand without the name. He said that after over 80 percent of people could easily identify the brand without the logo, their team was comfortable with moving forward with the brand evolution. Rajamannar stated that the decision came from ensuring that the brand stayed visible while also creating the right impact. Seeing that consumer’s interest can be very fleeting. Before going forward with the plan, MasterCard worked with various partners, like banks, sponsored events and shops, to test everything from digital screens and billboards to store window decals.
He stated that the brand needed an approach that was truly global, that offered customers continuity and had functional benefits. The new logo met all the criteria. The rollout of their new logo won’t happen at once but will be a gradual process. Cardholders will receive cards with the logos only when their new cards are due.