Global: 57% consumers believe corporations should respect their gender identity – Mastercard

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New research from Mastercard details discrimination of non-binary individuals in their financial experiences.

The study reveals the continued challenge faced by financial services to become more inclusive to non-binary communities, specifically, it found:

  • 68% of transgender people’s IDs feature the name and gender they identify as;
  • 19% of non-binaries have been discriminated against because of their gender identity when showing these IDs or paying via card; and
  • 55% of non-binary people feel unsafe while shopping.

This move by Mastercard demonstrates the shift towards changing the consumer-company relationship when it comes to gender identity. The research indicates that 37% of those surveyed find questions about gender when purchasing items unnecessary, 57% believe that corporations should respect their identity, and 66% of consumers are unbothered by companies addressing them in gender neutral terms.

To recognise non-binary individuals and in celebration of pride month, the payment giant is in the process of expanding ‘True Name’, a program that lets non-binaries change their gender and name on their cards without needing to legally change their name.

True Name launched in 2019 in the US in order to remedy the constant misgendering and mis-identification of transgender and non-binary individuals. Mastercard is working towards expanding the feature across Europe and other countries. Currently, True Name is available in the US at multiple banks, including Citibank, Marqeta, and Republic Bank.

Mastercard continues to demonstrate allyship with the LGBTQ+ community month by launching participating in the pride parade and partnering with non-binary artist and founder of illustration hub, Goodstrangevibes, Lou Brown, to illustrate ‘Priceless Pride’ stories of Mastercard employees.

In the announcement Brown stated: “Collecting data on the lived experience of the non-binary and trans community, who are often erased from statistics, is paramount to making meaningful changes and progression in our society.”

Whilst pride month is being celebrated globally, large corporations are looking to become more inclusive to a wider community. Earlier this month, Mastercard launched a program to empower women and non-binary individuals to use Web 3.0.

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