Isis Mobile Wallet today announced its rebranding in order to distance itself from ISIS, the militant group that has seized large parts of Iraq.
ISIS is an acronym used to identify the Islamic State of Iraq and Syria, a radical militia offshoot of Al-Qaeda.
Isis is a joint mobile payment venture between AT&T, Verizon and T-Mobile that leverages NFC technology.
They are not related. Still, Isis will err on the side of caution.
“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,” Isis CEO Michael Abbott said in a statement.
Isis plans to announce more details on its new name and rebranding strategy in the coming months.
ISIS reportedly last week announced it was changing its name to Islamic State to coincide with its proclamation of a new Islamic state stretching from northern Syria to Iraq’s Diyala province.