Michael Abbott, the chief executive officer of Isis, the joint-venture created by AT&T Inc. (NYSE:T), Verizon Communications Inc (NYSE:VZ) and T-Mobile US Inc (NYSE:TMUS) announced that Isis Wallet app is now Softcard.
The joint-venture decided to rebrand Isis mobile wallet app to avoid confusion and association with the violent Islamic militant group in the Middle East called by English speaking media outlets as Islamic State of Iraq and Syria (ISIS). The media refer commonly refers to the Al-Qaeda splinter group by its acronym, ISIS
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President Barack Obama and the United Nations call the terrorist group as the Islamic State in Iraq and the Levant of ISIL.
In July, the joint-venture decided to rebrand Isis Wallet app when the name of the terrorist group began to dominate the headlines worldwide.
In a statement today, Mr. Abbott said, “However coincidental, we have no desire to share a name with this group and our hearts go out to those affected by this violence.” The terrorist group killed thousands of people across Iraq and Syria including the executions of American journalists.
New name rooted on company’s founding vision
Mr. Abbott emphasized that Softcard, the new name of Isis mobile wallet app has been rooted in its founding vision: to use the power of the mobile phone to help consumers find a safer and better way to shop, pay and save.
He added that they also wanted a name and visual identity with the power, flexibility and simplicity to define its category.
Mr. Abbott believed that Softcard has the potential to become a category defining name given its simple and flexible visual system.
Furthermore, he emphasized that the current Isis wallet app will continue to work as it is. The new Softcard app will be launched over the next few weeks. Mr. Abbott said users can update their app normally by that time to see the name change from Isis wallet to Softcard.
The Isis Wallet now Softcard is a PIN-protected app, and the sensitive data is stored on a special chip in the user’s phone called Secure Element. Users can call or visit the company’s website to freeze payment cars loaded on their wallet once their phones were lost or stolen.