MasterCard has released details of “True Name,” a program that allows transgender people to use their chosen name on debit and credit cards, even if their legal name has not been changed. The company announced two institutions with whom it is partnering on the initiative: BMO Harris Bank in Chicago, and Superbia, a credit union focusing on LGBT customers.
Speaking to the New York Daily News, Cheryl Guerin, Mastercard’s executive vice-president of marketing and communications, said company research found that a third of Mastercard’s customers who have discrepancies between the name on their cards and their gender identities have had negative experiences as a result.
“We learned that there was a pain point with a product, with this particular community,” Guerin said. “And the goal was to fix it. We want everybody to feel a sense of pride in the cards they have. And we want everybody to feel safe and comfortable. We believe that everyone should feel accepted.”
MasterCard first revealed True Name this past summer to coincide with World Pride, an event marking the 50th anniversary of the Stonewall riots. Since then the company has been working with a number of institutions on the initiative.
“We wanted to ensure that the customer service supported this as well, that it wasn’t just listing a name on the card, but that every channel addressed the customer appropriately,” Guerin said.
BMO Harris Bank will begin providing True Name cards next month. Ernie Johannson, BMO’s group head for North American personal and U.S. business banking, said the bank was motivated by a will to eradicate discrimination.
“We are bringing True Name to BMO to embrace our cardholders’ true identities and empower them to make real financial progress without fear of discrimination,” he said.