Isis Wallet, the U.S.-based mobile payments joint venture, said it plans to change its brand to Softcard in order to avoid any confusion or association with a radical militant group in the Middle East.
In a post on the company’s web site, CEO Michael Abbott said he believes 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,” Abbott said.
Isis Wallet, backed by AT&T Mobility, T-Mobile US and Verizon Wireless, said in July it would be seeking a new name in order to distance itself from the radical Sunni Islamist militant group previously known as the Islamic State of Iraq and Syria, or ISIS, and now referred to as the Islamic State.
The company is developing what it describes as a mobile payments ecosystem, and launched its mobile wallet service across the U.S. in November last year.
In May this year, Isis said it averaged over 20,000 Isis Wallet activations a day. At that time, the NFC-based mobile wallet was supported by 68 mobile devices and preloaded on 14 smartphones.