8.6 C
New York
Monday, July 4, 2022
Home Challanger banks Mastercard and bunq introduced cards with the True Name feature

Mastercard and bunq introduced cards with the True Name feature

The bunq and Mastercard’s True Name service launched in Germany and will be available in 30 European countries.

This will allow cardholders to display their desired name on credit and debit cards issued by bunq.

Read also: BaFin: N26 needs to improve money-laundering prevention

Especially for LGBTQIA + people, who may feel born in the wrong body or want to redefine their identity, it may cause uncomfortable feelings to see their deadname on bank and credit cards.

This is where Mastercard and bunq want to start – with the “True Name” feature.

The card feature was also launched on the occasion of the International Day against Homophobia, Biphobia, Interphobia and Transphobia (IDAHOBIT).

“Mastercard has been supporting inclusion for a long time. One of the ways is also payment cards bearing the preferred name of the holder – everyone should be able to use financial products under their truly felt identity. True Name credit cards address one of the major challenges that transgender and non-binary people face and allows everyone to use their true identity securely, easily and with pride. We hope that other companies in the segment will treat everyone equally, ” says Mark Barnett, President of Mastercard Europe.

Commenting on the introduction of the cards, bunq Ali Nikam, CEO of Bunq Bank, said: “We are absolutely thrilled to be able to make history! At bunq, we believe in the strength and power of diversity and all the colors of the rainbow. Issuing True Name cards means a small change with a big impact: we give people the opportunity to be free and live their own lives the way they want.”

Accessibility is vital to the LGBTQIA + community today. Nearly one-third (32%) of those who showed ID cards with a name or gender that did not match their appearance reported negative experiences, such as harassment, denial of service, or assault.

Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

Recent posts

Starling Bank launched Fantasy Football game for the UEFA Women’s EURO of women’s football

Starling Bank is the national banking partner of Uefa Women’s Euro 2022 and now it is leveraging its financial heft to boost engagement by launching the first Fantasy Football game not designed for a men’s tournament.

Revolut has joined the buy now pay later market

Revolut is piloting a new 'buy now, pay later' service in Ireland beginning this week.

Klarna in conflict with Barclays over ‘Irresponsible’ Buy-Now-Pay-Later research

Klarna’s UK executive Alex Marsh has hit out at Barclays for publishing what he called “mind-boggling” and “irresponsible”.

Starling Bank has hit 3m account milestone

Starling Bank has passed the three million current account milestone, which “includes more than 460,000 small business accounts,” according to a recent update.