Mobile money joint venture Isis has changed its name to Softcard in an effort to distance itself from the militant jihadist group operating in Iraq and Syria.
The venture, owned by AT&T Mobility, T-Mobile USA and Verizon Wireless, said in July that it would ditch the Isis name to avoid any association with the Islamic State of Iraq and Syria jihadist group.
The terror group - which is fighting to create a caliphate in Iraq and Syria and yesterday posted a video purporting to show the beheading of US journalist Steven Sotloff - has actually renamed itself and now goes by the name Islamic State.
However, the wallet JV has pushed ahead with its new moniker, with Michael Abbott, CEO, saying: "However coincidental, we have no desire to share a name with this group and our hearts go out to those affected by this violence."
Customers will see the new name when the app is updated in the next few weeks. "Together with a simple and flexible visual system, the inherent simplicity of Softcard gives it the potential to become a category defining name. That's a bold aspiration, but one that matches the breadth of our vision," says Abbott.