Mastercard developed True Name in 2019 in response to the need for banking cards to reflect the true identities of many in the transgender and non-binary communities. BMO's US subsidiary, BMO Harris Bank, was the first financial institution globally to partner with Mastercard and issue the cards. Since then, True Name by Mastercard has been made available globally.
Effective immediately, existing BMO customers can request a new card, which displays their chosen name. Customers can call the number on the back of their credit card or visit a BMO branch to request a replacement card.
According to recent Mastercard research, 90% of individuals from the transgender community have had to use an ID with a name or gender that did not match their presentation, and only one in four (25%) have had their name changed on their credit card.
The introduction of True Name by Mastercard was designed to alleviate this negative experience and misrepresentation.
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