Payments Monitor

Good morning, welcome to Payments Monitor, my name is Faisal Khan, today is the 22nd of October 2015, some trending stories for today are: TOP STORIES The Dutch bank ABN-Amro is setting up a 10 Million Euro fintech fund. Not wanting to be left behind in the recent wave of banks like BBVA, Santander and Barclays who are pouring money in fintech, ABN-Amro’s Digital Impact Fund (as it is called) will invest in companies that have already launched a product or a service and are in their growth phase. European Union’s top court rules in favor of Bitcoin. The top court for the EU cites that Bitcoin and other virtual currencies transactions are exempt from VAT. eBay’s first post-split quarter results were better than expected. Revenue was slightly down 2.4%, but still at a healthy $2.1 billion. American Express reported its earnings that declined 16% from a year ago. Stronger US Dollar and higher expenses were some of the elements contributing towards the decline. Amex’s breakdown with Costco is also to be blam