News > FinTech

Is the Islamic State responsible for Android Pay?

By NexChange
FinTech

At first glance, the notion that Islamic State - formerly ISIS  (Islamic State of Iraq and Syria) - has a part to play in the birth of Android Pay is absurd, but its not impossible. No one is suggesting that the Islamic terrorist organisation  has a secret cell of programmers moonlighting  in Mountain View, however the group's mere existence may have set off a chain of events that inadvertently brought us Google's latest payment's platform.

This is what's suggested by fintech blog Mobile Payments Today which insists that to understand Android Pay one must start with ISIS. Why? Because the IP behind the Smart Tap technology that is at the center of Android Pay's value proposition was actually acquired by Google when it bought a company called Softcard in 2013.

Softcard was a joint venture created in 2010 by AT&T, T-Mobile and Verizon back when it was called Isis, at a time when name was more closely associated the Egyptian goddess. It was only when the terrorist group ISIS came onto the scene they were forced to change their name. Supposedly the brand never recovered from the name change, making it easier - so the logic goes - for Google to acquire them and their IP, and eventually bring us Android Pay.
Photo: FutureTrillionaire

Subscribe to our Newsletter

Be one of the first to experience the future of financial services