Wednesday, January 9, 2019
Raja Rajamannar, Mastercard's chief marketing and communication officer, cited research that found over 80 percent of consumers "spontaneously" recognized the brand without the word Mastercard. Plus, the "flexible modern design" that is the "MasterCard Symbol" is a better fit for digital channels, the company explained.
"Reinvention in the digital age calls for modern simplicity," Rajamannar said. "We are proud of our rich brand heritage and are excited to see the iconic circles standing on their own."
The red-and-yellow interlocking circles have been a hallmark of the Mastercard brand since the company changed its name from Interbank Card Association to MasterCharge in the mid-1960s. Mastercard now joins a small group of consumer-oriented brands that have dropped words from their logos, including Apple, Nike and Target.
"We live in a time where, increasingly, we communicate not through words but through icons and symbols," said Michael Bierut, a partner at the design consultancy Pentagram, and architect of the new logo. "Now, by allowing this symbol to shine on its own, Mastercard enters an elite cadre of brands that are represented not by name, but by a symbol: an apple, a target, a swoosh. Mastercard's two interlocking circles have always represented their commitment to connecting people. Now, that commitment is given greater presence by MasterCard's status as a symbol brand," Bierut added.
The new brand identity will be rolled out to all Mastecard products, communications and experiences starting with Masterpass later this month. All products and collateral materials will have the new logo by fall, Mastercard said.
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