Isis Mobile Wallet Will Rebrand to Softcard

NEW YORK -- The mobile wallet platform known as Isis Wallet is rebranding to Softcard, according to the company's CEO.

"Our search for a new name has been rooted in our founding vision: to use the power of the mobile phone to help consumers find a safer and better way to shop, pay and save," said Michael Abbott, CEO. "But we also wanted a name and visual identity that had the power, flexibility and simplicity to define our category."

The name reveal comes two months after the company announced it would rebrand to avoid confusion and association with the Islamic militant group in the Middle East whose name, when translated into English, is known by the acronym ISIS.

"However coincidental, we have no desire to share a name with this group and our hearts go out to those affected by this violence," Abbott added.

The company will launch the updated Softcard app in the next few weeks. At that point, customers can update the app so Isis Wallet becomes Softcard. Until then, the Isis Wallet will continue to work as it always has, according to Abbott.

Small traces of Isis will be visible for a short time, he noted.

"Together with a simple and flexible visual system, the inherent simplicity of Softcard gives it the potential to become a category-defining name. That’s a bold aspiration, but one that matches the breadth of our vision," the chief executive stated.