MasterCard revealed its first new logo in 20 years on Thursday.
A press release announcing the change calls the new customer-facing logo a "modernized and simplified update" to the red and yellow circle logo MasterCard branding consumers are used to seeing. The card issuer name now appears below the circles in a black font instead of the white overlay that had been part of the brand's identity for decades.
"To thrive in this new digital world where business moves faster than ever, we want to modernize and elevate the brand in a design that is simple and elegant, yet unquestionably MasterCard," Raja Rajamannar, MasterCard chief marketing and communications officer, said in the release.
Image courtesy of MasterCard
They also noted that the update keeps branding the same across all their channels and devices, and said it is the most "comprehensive brand design system ever introduced globally within MasterCard."
According to an email from a MasterCard spokesperson, the new logo will be rolled out across MasterCard-branded services over time, starting with the website, communications and its Masterpass program this month, and then other introductions of the new logo on branded credit, debit and prepaid programs.
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This article originally appeared on Credit.com.