Consumers may seem largely indifferent to the mobile carrier-owned Isis digital wallet, but what has prompted the change to a name to be named later is the rise of ISIS, the Islamic State of Iraq and Syria.
"The ISIS militant group has been linked to sectarian violence against civilians and government forces in Iraq and Syria," Isis CEO Michael Abbott wrote in a blog on Tuesday.
"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 rebrand," Abbott wrote.
Isis–owned by AT&T, Verizon and T-Mobile–went national last fall but many mobile payments experts have insisted to CU Times that it has little visibility at retail and not much more consumer interest. Some industry experts have said it is just a matter of time before the carriers kill it off.
The ISIS wallet requires an NFC-ready phone to work (that means it does not run on iPhone). It also needs a merchant with an NFC point-of-sale system.
Abbott said in his blog: "We are actively working on a new brand, and I'll share more with you as our journey progresses in the coming months."
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