The True Name card will allow customers to use their preferred name without needing a legal name change or more proof of identity, the magazine reported.
It is up to the banks that issue the cards to make the change, but Monday, Mastercard called for them to implement those changes, according to The Associated Press.
"Identity is an integral aspect of our selves, and our true names should be celebrated and valued," Randall Tucker, Chief Inclusion Officer at Mastercard, told Newsweek. "Knowing that something as simple as having the name that you identify with on a card can be such an emotional journey, we want to make it easier for each card to reflect the cardholder. Our vision is that every card should be for everyone."
The change means the person's name on the credit or debit card of a transgender person could be different than the name found on their driver's license or birth certificate, according to the AP.
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