Isis Wallet to Rebrand as Softcard

The mobile wallet platform known as Isis Wallet is rebranding to Softcard, according to the company's CEO.

The name reveal comes two months after the company announced it would rebrand to avoid confusion and association with the Islamic militant group in the Middle East whose name, when translated into English, is known by the acronym ISIS.

"However coincidental, we have no desire to share a name with this group and our hearts go out to those affected by this violence," Abbott added.

The company will launch the updated Softcard app in the next few weeks. At that point, customers can update the app so Isis Wallet becomes Softcard. Until then, the Isis Wallet will continue to work as it always has, according to Abbott.

Small traces of Isis will be visible for a short time, he noted.

"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," the chief executive stated.