Isis Will Rebrand Rather Than Share Name with Militant Group (July 8, 2014)
Isis, the NFC-based mobile payment initiative backed by AT&T Mobility, Verizon Wireless and T-Mobile, announced it will rebrand its mobile wallet to distance the company from the Islamic State of Iraq and Syria, a jihadist militant group that often goes by the acronym ISIS.
“However coincidental, we have no interest in sharing a name with a group whose name has become synonymous with violence,” Isis CEO Michael Abbott said on the company’s Website. He added that the company is working on a new brand and will share more details in coming months.
Yesterday’s decision to rebrand follows recent announcements of consumers’ growing adoption of the mobile wallet. Less than three months ago, Isis said consumers had activated an average of 20,000 mobile wallets per day in a 30-day period, doubling its growth rate over the prior month. Isis has been wooing consumers with deals from partners, including American Express, Wells Fargo and Jamba Juice.
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