Mobile payments upstart Isis rebrands to distance itself from extremist group
A new name is planned for the coming weeks
By Zach Miners | Published: 21:44, 07 July 2014
Isis, a mobile payments service that has struggled to gain traction despite the backing of AT&T, T-Mobile and Verizon, is now working toward a new name to avoid association with the Sunni militant group formerly known as ISIS.
Isis, the company, said Monday it was launching a rebranding effort to avoid any association with the extremist group now known as Islamic State. Active in Iraq and Syria, the group aims to gain religious control over Muslims.
The group's previous name, ISIS, stood for one of several things depending on the translation: "Islamic State of Iraq and Levant," "Islamic State of Iraq and Syria" or "Islamic State of Iraq and al-Sham."
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"However coincidental, we have no interest in sharing a name with a group whose name has become synonymous with violence," said Michael Abbott, chief executive of Isis, in a statement.
A new name and logo are planned for the coming weeks. An Isis spokesman declined to comment further.
Carriers like AT&T and Verizon have helped to develop Isis. The technology uses near-field communication, or NFC, in people's smartphones to let them make payments by waving their device in front of readers in retail stores.
Isis' Abbott said the company remained committed to growing the mobile payments ecosystem.