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Mastercard Inc. said Monday that it will drop its name from the interlocking red-and-yellow-circle logo at retail locations where Mastercard is accepted both online and in physical stores, and at major sponsorship properties. "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," the company said in a release. The red and yellow circles have been a symbol of Mastercard for more than 50 years. Mastercard shares have slumped nearly 11% for the last year while the S&P 500 index is down 7% for the period. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.