MasterCard has introduced a new hologram-based identifier for debit cards issued in the US, in compliance with the terms of a retailer class action lawsuit settlement.
The approach provides a "clear and conspicuous" method to identify debit cards, says MasterCard, in line with requirements of the recent settlement of a lawsuit brought against MasterCard and Visa by merchants in the United States.
Richard Lyons, SVP, deposit access group, MasterCard, says the hologram design "will clearly, uniquely and uniformly identify debit MasterCard cards, without diminishing the brand integrity and consumer familiarity built-up in current member debit programs."
He says the solution seamlessly integrates into current card manufacturing processes, as the price per hologram and positioning on MasterCard debit cards does not change. Additionally, the card face otherwise remains unaltered, eliminating the need for MasterCard debit issuers to reorient existing debit programme names, or renegotiate standing co-brand agreements with partners.
MasterCard debit issuers and card manufacturers are required to adopt and implement the new hologram design-standard beginning 1 January, 2004. Based on the settlement, debit card issuers are required to have 80% of their cards re-issued with a new 'Debit' identifier by 1 July, 2005, and 100% by 1 January, 2007.
The new debit card identification standards do not affect Maestro, MasterCard International's PIN-based debit brand, or debit MasterCard BusinessCard programmes.
The hologram design was developed in partnership with American Bank Note Holographics of Elmsford, New York. ABNH produces MasterCard International's current global hologram.