Mobile wallet service Isis is changing its name to distance itself from an acronym used to refer to militant group Islamic State of Iraq and Syria. US telecom companies ATT, T-Mobile, and Verizon four years ago teamed together to back Isis, software that takes advantage of near-field communication chips in smartphones to allow people to consumate transactions by tapping mobile devices on sensor-enabled pads at shops. We wanted a name that brought life to our company and our values, Isis chief executive Michael Abbott said Monday in an online message about the decision to dump the name inspired by an Egyptian goddess.
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