Finance brand Mastercard has dropped its name from its iconic double circle logo, as it bids to stay in relevant in an age where physical payments are on the decline. We explore the insights behind how the brand is banking on dropping a name that roots its functionality firmly in the past.
Mastercard is dropping its brand name from its logo. The double interlocking circles of the brand may have been reimagined six times since the brand's inception as Interbank Card Association in 1968, but never has the finance brand dropped the wording from it. But while a statement from the Mastercard execs waxes philosophical about the design – "reinvention in the digital age calls for modern simplicity" – Michael Beirut, a partner of design agency Pentagram who redesigned the logo, says there are more practical reasons for doing so: "[the redesign] is optimised for a very small piece of real estate on a very small piece of glass," he says. "Having to work in a 10-letter name in that is kind of a monster."
Mastercard says the rebrand is an exercise in "simplicity", but it's more than likely the name-drop is because what the word 'card' infers – that the brand still prioritises physical payments. With 68% of Americans now preferring p2p digital payments for their speed and convenience, Mastercard wants to stay future-facing as they innovate in an age where people are not just going cashless, but cardless, too. Going nameless isn't without its drawbacks, however; Starbucks faced a backlash after it dropped its name from the siren logo in 2011, with fans of the coffee chain saying it was pointless if they were simply looking to give the brand a refresh.
Megan Carnegie is the Library Editor at Canvas8. She has previously worked for Time Out in both London and Paris, as well as Courier Magazine. She has an MA in journalism from the University of London.
