Mobile payments firm Isis is to rebrand to avoid association with the Sunni militant group known as the Islamic State of Iraq and Syria (ISIS).

Isis, a brand name rather than an acronym, is a NFC mobile payments platform that represents a joint venture between AT&T, T-Mobile, and Verizon, whereas ISIS is a terror group founded by a follower of Osama bin Laden.

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"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," Isis CEO Michael Abbott said.

"As a company, we have made the decision to rebrand."

Since its founding in 2004, ISIS has become notorious for carrying out bombings, beheadings, assassinations, and out-and-out guerrilla warfare and has recently been in the public eye for its attempts to wrest control of Iraq away from the current government.

"We are actively working on a new brand, and I’ll share more with you as our journey progresses in the coming months," Abbott said.

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ISIS was first announced in April 2011 and in July 2011 obtained the support of major card companies MasterCard, Visa, Discover and American Express.

Terminal manufacturers VeriFone, Ingenico, ViVOtech and Equinox announced that they would back ISIS in March 2012.

The US wallet was launched during October 2012, piloting in Austin, Texas, and Salt Lake City, Utah.

It became available at stores across the US during November 2013 but faces stiff competition from other similar mobile schemes such as Google Wallet.

 

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