As with many businesses MasterCard is celebrating the LGBTQ community and supporting them during pride month in June. Many companies show their support by changing their social media profile pics to rainbow colored logos and maybe an article. However, MasterCard has made the decision to launch a new initiative that benefits the LGBTQ community called “True Name™“. In the past transgenders and non binary individuals have reported having a negative experience and discrimination when presenting their government ID when doing a transaction.
“It first starts with their name, that’s who they are, that’s their identity,” Randall Tucker, chief inclusion officer for MasterCard states. “You can choose your name on your credit card, your debit card and your prepaid card, which is amazing. We’re paying it forward, not because it’s in vogue, but because it’s who we are as an organization,” Tucker says. The True Name™ card is expected to be available by 2020.
Although we definitely applaud MasterCard for the initiative, there are a few issues that may arise from it. For one, criminals may be looking at this initiative as a tool to commit fraud because the consumer are allowed to choose their name. Also there is the fact that name discrimination only plays a small part to the attacks/negative experiences the LGBTQ faces. Transgender consumers for example experience more discrimination based on appearance their appearance than their name. This is a great step for MasterCard and we are looking forward to seeing the result of the True Name™ initiative. Learn More