Over half of consumers think firms should respect their gender identity

In line with Pride month, new research from Mastercard has detailed the discrimination of non-binary people in the experiences with finance.

According to Finextra, the study found that 68% of transgender people’s ID feature the name and gender they identify as, while 19% of non-binary persons said they have been discriminated against because of their gender identity when showing these IDs or paying via card. Up to 55% of non-binary people also said they feel unsafe while shopping.

The research also found that 37% of those surveyed find questions about gender when purchasing items unnecessary while 57% said they believe that corporations should respect their identity. Meanwhile, 66% of consumers said they are unbothered by firms addressing them in general neutral terms.

Mastercard is currently in the process of expanding ‘True Name’ a company program that lets non-binary people change their gender and name on their cards without actually needing to change their name.

True Name was introduced in 2019 in the US to deal with the constant misgendering and misidentification of transgender and non-binary individuals. Mastercard claims it is currently working towards expanding the feature across Europe and other countries.

Spire, a GCC open banking services provider, has partnered with Mastercard to ‘help banks revolutionise consumer engagement and enhance user experiences’.

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