Buzz
With the new 'True Name' card, Mastercard gives debit and credit card users the option to use their selected name on the card, even if it does not match their legal name.
Mastercard stated in a release, 'We are collaborating with partners to develop a product that ensures a private and respectful process, allowing individuals to use their true names on cards without the need for a legal name change, avoiding any invasive questions.'
The availability date for the Mastercard 'True Name' card has not yet been announced.
This is a significant move for transgender and non-binary individuals, who often encounter various financial challenges.
Some credit card providers have allowed users to add an authorized person without needing their Social Security Number, offering a workaround that enables trans and non-binary individuals to obtain a card with their chosen name without needing a legal name change.
In 2017, HSBC began offering 10 gender-neutral titles for customers, though they required customers to visit a branch and present documentation of their gender change.
Despite Mastercard's initiative, challenges remain for people who are asked for ID when making a purchase. A study by the National Center for Transgender Equality revealed that 25% of respondents with IDs that did not match their gender presentation faced verbal harassment, while 16% were refused service.
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