On the Web:
- IMF and World Bank Panel: Bitcoin Block Chain Could Boost Financial Inclusion - CoinDesk - "Even notes and coins are essentially tokens and property rights; they don’t have to be physical.”
- Alipay to U.S. Retailers: Let Us Be Your One-Stop Shop for Selling Into China - Re/code.net (Jason Del Rey) - "With the unveiling of a service called Alipay ePass, the company says it wants to help these retailers market goods to Chinese shoppers, accept payments from them, and get orders into their hands quicker."
On the Wires:
- eBay Inc. Reports Third Quarter Results - “PayPal had another strong quarter, and its mobile payments leadership and momentum continued with mobile volume up 72 percent to $12 billion. PayPal is on track to process 1 billion mobile transactions in 2014."
- Patent Quality Initiative Launched to Facilitate Better Patents and Fewer Disputes - "Today, The Clearing House announced the formation of the Patent Quality Initiative (PQI), an advocacy organization that strives to improve patent quality within financial services and other industries."
- Bank of America Reports Third-quarter 2014 Net Income of $168 Million on Revenue of $21.4 Billion - “We saw solid customer and client activity and improved profitability in most of our businesses relative to the year-ago quarter,” said Chief Executive Officer Brian Moynihan.
- JPMorgan Chase Reports Third-Quarter 2014 Net Income of $5.6 Billion, or $1.36 Per Share - Jamie Dimon, Chairman and Chief Executive Officer, commented on the financial results: “Our businesses continue to perform well. Consumer & Community Banking deposit growth led the nation as the FDIC reported Chase #1 in deposit growth for the third consecutive year. Our Card business delivered double-digit sales volume growth and Mortgage Banking continues to reposition the business and manage through cyclical-lows."
- Citigroup Reports Third Quarter 2014 Earnings Per Share of $1.07 - Michael Corbat, Chief Executive Officer of Citi, said, “Our consumer bank and institutional business each had solid performance during the quarter and generated stronger revenues both sequentially and year-on-year."
- Wells Fargo Reports $5.7 Billion in Net Income - “The Company’s third quarter results demonstrated strength in the fundamental drivers of our long-term growth,” said Chairman and CEO John Stumpf.
Updates from Glenbrook:
- Glenbrook's Payments Boot Camps: Oct 21-22 in New York, NY; Dec 9-10 in Palo Alto, CA.
- Glenbrook's Bitcoin: Basics and Beyond Workshop: Nov 19 in New York City
- Money20/20 as become the go-to event in payments... we'll be there in force. The agenda is now available and the event is 90% sold out - if you've been waiting, it's time to register! Use this promo code to register and receive a 20% discount: "GLENBR20"
- Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews