The Hong Kong Monetary Authority (HKMA) published today statistics on SVF schemes issued by SVF licensees for the third quarter of 2020.
According to the quarterly statistics, the total number of SVF accounts in use (Note 2) was 63.97 million by the end of Q3/2020, representing a 0.1% increase from the previous quarter. The total number of SVF transactions (Note 3) was around 1.3 billion for Q3/2020, or 0.8% lower than the previous quarter. The total value of SVF transactions was HK$56.3 billion for Q3/2020, representing a 1.4% increase from the previous quarter. Of the total transaction value, HK$22.7 billion was related to point-of-sale spending payment, HK$23.7 billion in online spending payment and HK$9.9 billion in P2P funds transfer. The total float and SVF deposit (Note 4) was HK$13.4 billion for Q3/2020, 5.4% higher than the previous quarter.
As compared with the end of Q3/2019, the total number of SVF accounts in use at the end of Q3/2020 was up by 2.3%, and the total float and SVF deposit was up by 20.1%. The total number and value of SVF transactions during Q3/2020 were down by 20.8% and up by 9.9% respectively year-on-year.
Hong Kong Monetary Authority
18 December 2020
- 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.
Is your business effected by Cyber Crime?
If a cyber crime or cyber attack happens to you, you need to respond quickly. Cyber crime in its several formats such as online identity theft, financial fraud, stalking, bullying, hacking, e-mail fraud, email spoofing, invoice fraud, email scams, banking scam, CEO fraud. Cyber fraud can lead to major disruption and financial disasters. Contact Digitpol’s hotlines or respond to us online.
Digitpol is available 24/7.
UK +44 20 8089 9944