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Did MasterCard just Redesign Their Logo?

Many established companies have iconic logos that they have refused to change over the years. One such company is MasterCard, whose famous red and yellow circles have become synonymous with the credit card company. After more than 20 years, their logo has been changed to reflect the company’s more modern way of doing business.

The Announcement

Branding agency Pentagram was responsible for creating MasterCard’s new logo. The rollout was expertly timed to coincide with the launch of MasterPass™, a new global digital payment service. The company made the announcement on July 14, 2016, claiming that it was “an evolution of its brand identity-simplified, modernized, and optimized for an increasingly digital world.” They also remarked that it will “bring a forward-thinking, sophisticated, and inclusive brand expression to every touch point around the world.”

The New MasterCard Logo

Rather than a red and yellow circle that is spliced together in the middle, MasterCard’s new logo contains circles that more closely resemble a Venn diagram. On the left is a red circle, and a golden yellow one is on the right. These two circles overlap one another, and the space where the two connect is an orange color. Rather than having “MasterCard” printed across the circles in bold white letters, the name of the company is now found in smaller black font underneath. Instead of being in uppercase letters, the name is now in lower case font.

Mastercard

Image Source: Pentagram / MasterCard

Reason for the Change

MasterCard’s new logo change reflects a growing trend in the corporate world, which is minimalist design. Several other companies have recently simplified their logos, including Verizon, Google, and Ihop. One-dimensional shapes and basic fonts are increasingly being used in logos because they work better in digital formats. With MasterCard, this is especially important, as the company wishes to emphasize their shift into various online payment platforms.

Best of Old and New

In changing its new logo, MasterCard has managed to maintain its status as a leader in the financial industry, while at the same time helping to modernize the brand. MasterCard’s CMO Raja Rajamannar stated “The MasterCard logo is recognized universally. There are 2.2 billion cards that carry the MasterCard logo….the key for us is the equity in that logo-we have to leverage that going into the future. As for the changes, Rajamannar remarked “This change makes the mark more flexible-it easily can be rendered horizontally or vertically.”

Mastercard

Image Source: Pentagram / MasterCard

Phasing out the Old Logo

MasterCard is currently issuing credit cards that contain their new logo. In addition, MasterPass™ is being rolled out in several countries, including the UK, Brazil, and the United Arab Emirates. The company is also encouraging merchants to download the new logo and display it in their windows or near their cash registers. It may take some time to completely phase out the old logo, but MasterCard is working hard to do that.

MasterCard’s new logo design is an excellent example of how established companies can refresh their image without completely losing their identity. This new logo will help MasterCard maintain its image among long-time customers, while also earning the trust of new ones.