Isis chief executive Michael Abbott announced this afternoon that the mobile payment platform will undergo rebranding so that it does not share its name with the Islamic State of Iraq and Syria, often abbreviated as ISIS by the media. The militant group is often associated with violence and conflict against innocent civilians, and Isis wants to ensure that its brand has zero association with those actions.
Abbott did not provide a specific timeframe for when Isis will announce its new brand, but he claims that the company will provide updates over the coming months. The chief executive wants to ensure that its new brand continues to encompass the values and underlying purpose of the company, which is “to use the power of the mobile phone to help consumers find a safer and better way to shop, pay and save.”
Abbott feels this is the right decision for Isis to make:
“Changing a brand is never easy, but we know this is the right decision – for our company, our partners and our customers.
We are actively working on a new brand, and I’ll share more with you as our journey progresses in the coming months.
In the meantime, we remain committed to growing the mobile payments ecosystem, and advancing our mobile wallet. Our focus on delivering a great product and platform to our customers hasn’t changed.”
Isis, a joint venture between AT&T, Verizon and T-Mobile, is a mobile payment system that uses NFC to allow for users to pay by tapping their mobile devices on a payment terminal. Isis has seen tremendous growth over the past few years, with over 20,000 new customers using the platform per day to make mobile payments. The Isis Mobile Wallet app is available on Google Play.