It appears Isis has a branding issue, now that it shares the same name as a well-known terrorist group.
Isis – a mobile wallet service founded by AT&T, T-Mobile and Verizon – is eager to initiate a re-branding effort and name change.
It’s understandable, considering its name is quite similar to that of the Islamic State of Iraq and Syria known as ISIS, a militant terrorist group that is working to create a new fundamentalist Islamic state.
The ISIS militant group has been linked to sectarian violence against civilians and government forces in Iraq and Syria.
However coincidental, we have no interest in sharing a name with a group whose name has become synonymous with violence and our hearts go out to those who are suffering. As a company, we have made the decision to re-brand.
According to TechCrunch, “The mobile platform includes a free wallet app for iOS and Android devices that lets consumers pay at point-of-sale via NFC chips built into their mobile handsets, or by using select ‘Isis Ready’ NFC cases designed for the NFC-less iPhone.” The Isis Wallet supports credit cards, including: Wells Fargo, Chase and American Express/Amex Serve.
With competitors such as PayPal, Square, Google Wallet and Venmo, Isis Wallet has yet to take off in the U.S., so “a forced re-branding might not be such a bad thing,” CNN Money said.
The new name will be announced in coming months.