NEW YORK - Like Apple's apple or Nike's swoosh, Mastercard has turned to a wordless logo.
The global credit card company announced on Monday (Jan 7) it is dropping the word "Mastercard" from its logo - where it has been for the last 50 years - leaving behind just two intersecting circles of red and yellow, with orange in the middle.
Media reports said the move comes as more and more payments are going digital - when the word "card" might appear old-fashioned. Against this changing landscape, Mastercard wants to be seen as a financial-tech firm instead of only a credit card network. In the media statement announcing the logo change, Mastercard called itself a "digital payment company".
"As the consumer and commerce landscape continues to evolve, the Mastercard symbol represents Mastercard better than one word ever could, and the flexible modern design will allow it to work seamlessly across the digital landscape," Mastercard tweeted.
But hardly had the tweet gone out, when some on the Internet started mocking the move, with one unimpressed netizen saying "Now it's just a simple Venn diagram", while another said it "Looks like a butt".