Isis mobile wallet abandons name to militant group

Jul 07, 2014
Members of the Iraqi Emergency Response Brigade patrol streets on June 24, 2014 in the western city of Ramadi in the Anbar province, where government forces fight against anti-government militants

Mobile wallet service Isis is changing its name to distance itself from an acronym used to refer to militant group Islamic State of Iraq and Syria.

US AT&T, T-Mobile, and Verizon four years ago teamed together to back Isis, software that takes advantage of near-field communication chips in smartphones to allow people to consumate transactions by tapping mobile devices on sensor-enabled pads at shops.

"We wanted a name that brought life to our company and our values," Isis chief executive Michael Abbott said Monday in an online message about the decision to dump the name inspired by an Egyptian goddess.

"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."

The company has not yet decided on a new name, Abbott said.

Explore further: Sprint and T-Mobile near merger deal: reports

add to favorites email to friend print save as pdf

Related Stories

Cell carriers to roll out 'mobile wallets' in Utah

Apr 06, 2011

A joint venture between three of the nation's four largest cell phone carriers will soon offer the United States' first commercially available mobile fare payment program to a public transportation system.

Sprint and T-Mobile near merger deal: reports

Jun 05, 2014

US telecom service firms Sprint and T-Mobile were nearing a deal valued about $32 billion and likely to be scrutinized by anti-trust regulators, US media reported Wednesday.

PayPal letting Google phones swap cash

Jul 13, 2011

Online financial transactions giant PayPal on Wednesday showed off a mini-program that lets people exchange money by touching together a pair of Google smartphones.

Recommended for you

Yahoo profit surges on Alibaba divestment, mobile

44 minutes ago

Yahoo said Tuesday its quarterly profit surged with its sale of shares in Chinese Internet powerhouse Alibaba, and also saw improving results from its mobile Internet initiatives.

Turner channels removed from Dish amid pact spat

5 hours ago

Channels such as Cartoon Network and CNN are no longer part of Dish's programming lineup as a deadline has passed for the satellite TV provider and Turner Broadcasting to renew their distribution agreement.

Verizon reports higher 3Q net income, revenue

6 hours ago

Verizon Communications Inc. on Tuesday reported higher net income and revenue in its third quarter, helped by strong wireless subscriber growth and demand for its high-speed FiOS Internet services.

Amazon, Simon & Schuster sign book retail deal

15 hours ago

Amazon has reached a deal with American book publisher Simon & Schuster, the companies said, though the e-commerce giant remains at loggerheads with France's Hachette over e-book pricing.

User comments : 0