NEW YORK – Isis will rebrand its mobile wallet payment platform, the company announced Monday.
“Four years ago, we went in search of a brand that could embody this vision,” Isis CEO Michael Abbott said in a statement. “We wanted a name that brought to life our company and our values. Above all, we wanted a brand that captured the simplicity of our mobile wallet experience. We chose Isis.”
However, the company will now rebrand itself because of growing concern about a militant group named the Islamic State of Iraq and Syria, often referred to by the acronym ISIS. Abbott said he has no intention of the company being confused with a militant group linked to sectarian violence.
“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,” said Abbott. “As a company, we have made the decision to rebrand.”
Isis has yet to come up with a new identity, but Abbott said his company is actively working on this and will share more information in the coming months.
“In the meantime, we remain committed to growing the mobile payments ecosystem and advancing our mobile wallet,” the chief executive said. “Our focus on delivering a great product and platform to our customers hasn’t changed.”
The Isis mobile payment platform is a joint venture created by AT&T Mobility, T-Mobile USA Inc. and Verizon Wireless.
The mobile payment service was tested at several Maverik Inc. convenience stores during the past couple of years. After successful launches at retail locations in Austin, Texas, and Salt Lake City, Isis rolled out nationally on Nov. 13.