What’s in a name? For MasterCard, not enough to keep it in the logo.

The company is removing the word Mastercard from the pair of interlocking red and yellow circles where it has resided for more than 50 years.

Mastercard will join a small stable of brands like Nike, Apple and Target that rely on an image rather than a name in most marketing materials.

The organisation says 80 per cent of people recognise the Mastercard logo even when its name isn’t present.

Senior Advisor at KPMG Andrew Billy Baxter says Mastercard’s “branding of the red and orange circle is pretty well known”.

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