Mastercard said it is evolving its brand mark by dropping its moniker from the logo — in “certain contexts” and applications. The upgrade is being done as the company “adapts to a digital environment in a move to become a symbol brand,” the company noted.

The new brand mark was announced at the CES show in Las Vegas.

“The interlocking red and yellow circles, referred to as the Mastercard Symbol, will now stand on its own across cards using the red and yellow brand mark, acceptance marks at retail locations both in the physical and digital worlds, and major sponsorship properties,” the company said in a statement. “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.”

Raja Rajamannar, chief marketing and communication officer at Mastercard, said that reinvention in the “digital age calls for modern simplicity.”

“And with more than 80 percent of people spontaneously recognizing the Mastercard Symbol without the word ‘Mastercard,’ we felt ready to take this next step in our brand evolution,” Rajamannar said.

The company said the interlocking circles have been “the hallmark of the Mastercard brand for more than 50 years, symbolizing the brand’s promise to connect people to priceless possibilities.” From a brand attribute perspective, the company described its brand mark as one that is “instantaneously recognizable” and is designed to “bring people closer to their passions and give them the confidence and trust that their transactions are secure.”