The Hong Kong Monetary Authority (HKMA) published today statistics on SVF schemes issued by SVF licensees for the first quarter of 2021.
According to the quarterly statistics, the total number of SVF accounts in use (Note 2) was 63.82 million by the end of Q1/2021, representing a 0.1% decrease from the previous quarter. The total number of SVF transactions (Note 3) was around 1.3 billion for Q1/2021, or 8.3% lower than the previous quarter. The total value of SVF transactions was HK$59.1 billion for Q1/2021, representing a 2.6% decrease from the previous quarter. Of the total transaction value, HK$23.4 billion was related to point-of-sale spending payment, HK$25.5 billion in online spending payment and HK$10.3 billion in P2P funds transfer. The total float and SVF deposit (Note 4) was HK$13.9 billion for Q1/2021, 2.2% higher than the previous quarter.
As compared with the end of Q1/2020, the total number of SVF accounts in use at the end of Q1/2021 was up by 0.3%, and the total float and SVF deposit was up by 18.6%. The total number and value of SVF transactions during Q1/2021 were up by 11.9% and 21.6% respectively year-on-year.
Hong Kong Monetary Authority
18 June 2021
- The SVF scheme statistics are compiled from data on SVF schemes issued by the eighteen SVF licensees. The SVF licensees, in alphabetical order, are 33 Financial Services Limited, Alipay Financial Services (HK) Limited, Autotoll Limited, Bank of Communications (Hong Kong) Limited, Dah Sing Bank, Limited, ePaylinks Technology Co., Limited, Geoswift Cards Services Limited, HKT Payment Limited, Hongkong and Shanghai Banking Corporation Limited (The), K & R International Limited, Octopus Cards Limited, Optal Asia Limited, PayPal Hong Kong Limited, TNG (Asia) Limited, Transforex (Hong Kong) Investment Consulting Co., Limited, UniCard Solution Limited, WeChat Pay Hong Kong Limited, and Yintran Group Holdings Limited.
- “Total number of SVF accounts in use” refers to the total number of SVF accounts that can be used as at the end of the reporting period.
- SVF transactions include point-of-sale spending payment, online spending payment and P2P funds transfer.
- The following terms follow their definitions in the Payment Systems and Stored Value Facilities Ordinance:
- “Float” means the stored value remaining on the facility but does not include any SVF deposit;
- “SVF deposit” means a deposit placed with the licensee, or another person on behalf of the licensee, for enabling the facility to be used.
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