Mastercard has partnered with BMO Harris and Superbia Credit Union to implement the True Name feature for their card offerings.
The collaboration will allow people to use their true name on their eligible card without the requirement of a legal name change.
Cheryl Guerin, EVP Marketing & Communications at Mastercard, said: “We are thrilled to have the very first issuers of the True Name feature on board, allowing us to propel one of our key values, unconditional acceptance.
“At Mastercard, we strive to cultivate a culture of inclusion that extends both internally and externally. We are continuing to call on the industry to help us ensure that each and every person’s financial products can reflect their true identity.”
The True Name initiative
The True Name initiative was developed to reflect the true identities of many in the transgender and non-binary communities. For these communities, cards can be a source of sensitivity rather than an affirmation of who they are.
BMO Harris will implement the feature for personal ATM and debit cards in December of this year. Meanwhile, Superbia Credit Union will enable the True Name initiative across their Mastercard portfolios in 2020.
Scott Turner Schofield with the GLAAD Media Institute, said: “Transgender, non-binary, and gender non-conforming people are consistently placed at greater risk of discrimination, harassment, and overall denial of everyday services when their identification does not match their true identity.
“The implementation of Mastercard’s True Name feature is a crucial step forward in helping to reduce these risks by allowing trans, non-binary, and gender non-conforming people to have financial products that accurately reflect who they are.”
Research found that 32% of individuals who have shown IDs with a name or gender that did not match their presentation reported negative experiences. These include, being harassed, denied services or being attacked.
Myles Meyers, founder of Superbia Credit Union, said: “The sole focus of Superbia Credit Union is to work on behalf of the LGBTQ community to build and provide access to fair, non-discriminatory products and services in banking services.
“This means working alongside our partner organisations like Mastercard, who share in our vision, and to bring those solutions directly to community members.”