Mastercard drops name from logo in digital update
Mastercard is counting on its logo to do the talking. It plans to drop its name from the Mastercard symbol in some physical and digital marketing and advertising situations.
In doing so, Mastercard joins the ranks of other major companies like Apple, Target and Nike that rely mostly on a symbol as a brand and marketing tool.
Mastercard's last rebranding was in 2016, when it lowercased its name and moved it below the interlocking circles it has used in its logo since 1968. Before the 2016 redesign, Mastercard's logo hadn't changed in 20 years.
Following this year's rebranding, the interlocking circles — which the company refers to as the Mastercard Symbol — will stand on their own across payment cards, acceptance stickers at physical and digital retail locations, and on major sponsorship properties.
“Reinvention in the digital age calls for modern simplicity,” Raja Rajamannar, chief marketing and communication officer at Mastercard, said in a Monday press release. “And with more than 80 percent of people spontaneously recognizing the Mastercard Symbol without the word ‘mastercard,’ we felt ready to take this next step in our brand evolution."
The company says those circles fit in with one of the company's main marketing slogans in that they symbolize the brand’s promise to connect people to "Priceless" possibilities.
Mastercard’s two interlocking circles "have always represented their commitment to connecting people," Michael Bierut, partner at Pentagram, said in the release. "Now, that commitment is given greater presence by Mastercard’s status as a symbol brand.”
The local change comes at the same time Mastercard has established a chief experience officer position to further the brand name as it relates to consumer and merchant experiences. Donald Chesnut assumes that role, putting Mastercard in a fold with companies like Footlocker and J. Crew, which also have a chief experience officer.