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.
A letter from Isis CEO Michael Abbott said:
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.
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