New payment system to change its name
Isis Wallet, mobile payment software started recently is changing its name to Softcard. It is an attempt to avoid someone wrongly associating them with the brutal Sunni Islamic terror group known as ISIS (the Islamic State of Iraq and Syria). The name change was announced in July 2014.
Isis is a free smartphone application that allows AT&T, Verizon and many other customers a new way to shop and pay for them using their smartphone. It holds eligible payment cards, provides money saving offers to customers, and has a store loyalty program. Its technology uses near-field communication (NFC) that allows users to wave their devices including their smartphone to pay for services and purchases. This technology is in its infancy mainly due to lack of card readers at retail stores. One huge drawback is Apple’s iPhone doesn’t accommodate the technology and the software company expects that with much anticipated new iPhone to change it.
The company expects to get the new app up and running shortly. All current users of the software will be able to transition into the new app easily. Company already changed its Twitter page to the new name and other aspects will follow soon.