In a statement titled “It’s Time to Enable People to Use Their True Name on Cards”, Mastercard says that it is important that trans and non-binary people are able to use a credit, debit or prepaid card that reflects their true identity without the need of a legal name change. The statement describes how birth names or dead names appearing on cards can be “a source of sensitivity, misrepresenting their true identity when shopping and going about daily life.”

According to a US report, people 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. Allowing non-binary and trans people to use their chosen names on financial products and services will reduce anxiety and the danger that many people experience when the name on their card doesn’t match how they present themselves.

Randall Tucker, Chief Diversity and Inclusion Officer for Mastercard speaking at a panel discussion with the New York City Commission on Human Rights revealed plans for the True Name card saying: “We are allies of the LGBTQIA+ community, which means if we see a need or if this community is not being served in the most inclusive way, we want to be a force for change to help address and alleviate unnecessary pain points.

“This translates not only for our Mastercard employee community but for our cardholders and the communities in which we operate more broadly. Our vision is that every card should be for everyone.”

Mastercard is calling on the industry to make standard allowing people’s financial products to reflect their true identity.

According to the Journal of Adolescent Health likelihood of depression and suicide in trans youth decreases dramatically amongst those who can use their chosen name. This makes Mastercard’s decision to allow trans and non-binary people to use their chosen names a welcome change.