07 February 2016

Isis mobile wallet ditches name to avoid jihadist confusion

08 July 2014  |  6284 views  |  4 Isis

Mobile money joint venture Isis is changing its name in a bid to shed any associations with the Islamic State of Iraq and Syria jihadist group.

AT&T Mobility, T-Mobile USA and Verizon Wireless set up Isis four years ago, choosing the name - which is not an acronym - because it "brought to life our company and our values," says CEO Michael Abbott.

However, the brand has recently become associated with the very different values of a brutal jihadist group formed last April as an offshoot of al-Qaeda in Iraq and currently fighting to create a caliphate in Iraq and Syria.

Already struggling to pick up customers in a competitive market, the mobile money JV has moved to distance itself from the terrorists, with Abbott posting a blog revealing the planned rebranding. No new name has been announced.

Says Abbott: "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."

Ironically, the Islamic State of Iraq and Syria has also tried to rebrand, last week declaring a caliphate and change of name to Islamic State.

Comments: (4)

Elizabeth Lumley - Startupbootcamp FinTech & InsurTech - London | 09 July, 2014, 07:05

Hmmm, was sharing a name with a terroist group Isis' biggest problem?

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
A Finextra member | 09 July, 2014, 11:32

on the 29th June, a week ahead of the ISIS Mobile Joint Venture Annountment,  ISIS in Iraq changed its name to the 'Islamic Caliphate' possibly to stop any convusion with a troubled  American mobile wallet application.... possibly the brand manager in the middle east was a bit ahead of the game on this one - or there was some trademark litigation threatened? see  http://www.haaretz.com/news/middle-east/1.602008  for more details

1 thumb up! 1 thumb up! (Log in to thumb up)
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune | 09 July, 2014, 11:33

What's worse, I'm not sure if there's any way for the MNO consortium to prevent a recurrence of such a problem in future. Some degree of schadenfreude is only to be expected but let's keep in mind such a branding nightmare could happen to anyone, anytime.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
A Finextra member | 09 July, 2014, 11:34

ISIS is now available for use again -  thats a relief !!!!!

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

14 May, 2014
05 February, 2014
16 October, 2013
31 July, 2013
05 March, 2012
20 July, 2011
05 April, 2011

Related company news

Your browser is unable to support Flash files.

Top topics

Most viewed Most shared
Fintech rising: Resistance is futile, says...
10103 views comments | 47 tweets | 39 linkedin
Digital transformation driving earnings at...
8738 views comments | 42 tweets | 35 linkedin
ECB eyes up European P2P payments
7619 views comments | 28 tweets | 38 linkedin
Visa opens up to developers
6878 views comments | 23 tweets | 40 linkedin
It may take ten years, but blockchain tech...
6007 views comments | 20 tweets | 19 linkedin

Featured job

Find your next job