The Islamic militant group using the name ISIS -- short for Islamic State of Iraq and the Syria (or al-Sham) -- has been making headlines around the world after seizing several cities in Iraq this year.
Sharing a name with the terrorist group was off the radar four years ago when AT&T Mobility, T-Mobile US Inc. and Verizon Wireless teamed up to form Isis. The mobile app allows consumers to pay, redeem coupons and present loyalty cards with a tap of an NFC-enabled smartphone.
"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 Isis chief executive Michael Abbott. "As a company, we have made the decision to rebrand." See Abbott's full statement below.
The company has not yet decided on a new name, but said it will reveal one in the coming months.
Embarking On A New Brand
a message from Isis chief executive Michael Abbott
From our inception, our vision has been simple: Use the power of the mobile phone to help consumers find a safer and better way to shop, pay and save.
Four years ago, we went in search of a brand that could embody this vision. 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.
Recently, we have observed with growing concern a militant group whose name, when translated into English, is Islamic State of Iraq and Syria -- often referenced by the acronym ISIS.
The ISIS militant group has been linked to sectarian violence against civilians and government forces in Iraq and Syria.
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.
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.
Please accept my sincere thanks for your support and dedication to our vision. And, I thank you in advance for your continued support and understanding as we work through this transition.