I think it is safe to say that ISIS Wallet – the joint venture from Verizon, AT&T and T-Mobile – has had a rocky journey from its very inception. It also received a lot of flak for going up against Google Wallet. On 7th July 2014, the company announced its decision to rebrand itself in order to not be associated with the ISIS Militant Group that has been linked to violence against the government as well as civilians in Syria and Iraq.
Mind you these two have absolutely nothing to do with each other. It just seems that the poor luck continues for a Wallet service that is simply trying to make it easier for users to pay with their smartphones!
“From our inception, our vision has been simple: Use the power of the mobile phone to help consumers find a safer and better way to shop, pay and save.
Four years ago, we went in search of a brand that could embody this vision. We wanted a name that brought to life our company and our values. Above all, we wanted a brand that captured the simplicity of our mobile wallet experience. We chose Isis.
Recently, we have observed with growing concern a militant group whose name, when translated into English, is Islamic State of Iraq and Syria – often referenced by the acronym ISIS.
The ISIS militant group has been linked to sectarian violence against civilians and government forces in Iraq and Syria.
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. As a company, we have made the decision to rebrand.
Changing a brand is never easy, but we know this is the right decision – for our company, our partners and our customers.
We are actively working on a new brand, and I’ll share more with you as our journey progresses in the coming months.
In the meantime, we remain committed to growing the mobile payments ecosystem, and advancing our mobile wallet. Our focus on delivering a great product and platform to our customers hasn’t changed,” wrote CEO of ISIS, Michael Abbott, in a blog statement.
“Please accept my sincere thanks for your support and dedication to our vision. And, I thank you in advance for your continued support and understanding as we work through this transition,” he added.
I think the takeaway point for ISIS wallet here is that it is, ironically enough, relatively unknown. This makes the rebranding a lot less of an effort than it would take say for PayPal or Google Wallet.