The MasterCard payment system decided to change its logo by removing the company name from it.
This is reported on the company’s website. Only intersecting red and yellow circles will remain in the logo.
The head of the MasterCard marketing department, Raja Rajamannar, noted that today more than 80% of people recognize the MasterCard symbol without mentioning the name of the company. “Rethinking to the digital age requires modern simplicity. <...> We felt ready to take the next step in the evolution of our brand,” he noted.
The company’s message notes that intersecting red and yellow circles have been the distinctive mark of MasterCard for more than 50 years, since its foundation in 1966.
In late October, it was reported that MasterCard’s net profit for the first nine months of 2018 increased by 34.5% compared to the same period in 2017–to 4.96 billion dollars.