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Mastercard to drop name from its cards

Mastercard Inc. will drop its name from its cards and allow the trademark interlocking red and yellow circles brand mark to stand on its own.

Chief Marketing and Communication Officer Raja Rajamannar said in a press release that more than 80% of people recognize the company symbol without need of mentioning the name, so the company "felt ready to take this next step in our brand evolution."

"We are proud of our rich brand heritage and are excited to see the iconic circles standing on their own," he added.