Of all the things you don't want people to associate with your brand, being a terrorist organization is probably at the top of the list.
That's just the unenviable position a mobile wallet company named Isis now finds itself. To avoid any confusion with the Islamic State of Iraq and Syria (ISIS), a group that's allegedly responsible for heinous crimes in the Middle East, the comapny is now looking to rebrand.
In a statement released on Monday, Isis's CEO Michael Abbott announced the company's decision to embark on a new name, which is yet to be decided.
"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," says Abbott.
The Islamic militant group ISIS is also a rebranded name that has a well-known orgin--the third generation of al Qaeda, a global terrorist orgnization founded by Osama bin Laden. The group is trying to create an Islamic state across the Sunni regions of Iraq and Syria.
As a mobile payment brand that aims to facilitate "safer" transactions, Isis obviously is upset with the rise of the militant group. Founded in 2010 by AT&T, Verizon, and T-mobile, Isis is a mobile wallet that allows you to pay directly through your phone. The platform organizes all your payment cards in one app that gives users the ability to checkout without swiping a single card.
However, not every smartphone is "Isis-ready." Even though some most popular phones such as Samsung Galaxy Note 3 enables Isis functions, all iPhones will need a special case that costs around $60 to $70 to support the payment method. The popularity of Isis also diminishes as not every merchant supports the new tap-and-pay technology. Some selected stores of Walgreens, Duane Reade, and McDonald's are among the early adopters of contactless payment method that enables Isis.
So, maybe its name isn't its biggest problem.