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

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

Germany still has some way to go to 'smart factories'

1 hour ago

Collaborative robots and intelligent machinery may have wowed the crowds at this year's Hannover Messe, but experts see German industry as having some way to go towards incorporating them on factory floors ...

Taiwan factory workers win $18 mn over cancer deaths

Apr 17, 2015

Workers from a factory in Taiwan which leeched toxic chemicals they say resulted in 200 deaths from cancer and more than 1,000 other cases of the disease won a Tw$564.45 million ($18 million) payout from US electronics company ...

Court monitor: Apple antitrust cooperation has 'declined'

Apr 17, 2015

Apple Inc.'s cooperation with efforts to improve its compliance with antitrust laws after a federal judge concluded it colluded with electronic book publishers to raise prices five years ago took on an "adversarial tone" ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.