It's too bad that in this day and age, we have to worry about a company changing its name so as not to be confused with a violent organization. ISIS had announced its intention to re-brand earlier this year, but recent developments have forced it to move up the timeline.
It is expected that the newly named Softcard will be facing a new competitor when the Apple iPhone 6 is introduced on September 9th. The next iteration of Apple's smartphone is expected to offer NFC connectivity and a new mobile payment platform. Currently, certain models of the iPhone can use the Incipio Cashwrap case that comes with a micro NFC chip, and works in conjunction with the ISIS mobile wallet app.
While the ISIS terror group has recently changed its name to ISIL, it probably is still a good idea on Verizon, T-Mobile and AT&T's part to change the name of its mobile payment service
source: Softcard via Phonescoop