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Press Releases

Granting of stored value facilities licences

The Hong Kong Monetary Authority (HKMA) announced today (November 4) that the Monetary Authority has granted stored value facilities (SVF) licences to the following SVF issuers under the Payment Systems and Stored Value Facilities Ordinance (the Ordinance): 

SVF Licensees

SVF Licence number

Licence effective date

33 Financial Services Limited

SVF0010

4 November 2016

Autotoll Limited

SVF0012

4 November 2016

ePaylinks Technology Co., Limited

SVF0011

4 November 2016

K & R International Limited

SVF0007

4 November 2016

Optal Asia Limited

SVF0006

4 November 2016

PayPal Hong Kong Limited

SVF0008

4 November 2016

Transforex (Hong Kong) Investment Consulting Co., Limited

SVF0013

4 November 2016

UniCard Solution Limited

SVF0009

4 November 2016

 

A list of current SVF licensees can be found in the Register of SVF Licensees maintained on the HKMA’s website.  

“With the issuance of the second batch of SVF licenses today, the total number of SVF licensees in the local SVF market now amount to 13.  We are pleased to see companies with diverse backgrounds offering a variety of SVF products which will enhance retail payment convenience in Hong Kong.  The implementation of the SVF supervisory regime by the HKMA will strengthen public confidence in using SVF products and services which, in turn, will facilitate developments and innovations in the local retail payment industry,” said Howard Lee, Senior Executive Director of the HKMA.

The Ordinance commenced operation on November 13 last year and provided a one-year transition period for application for SVF licences.  Under the Ordinance, the HKMA is empowered to implement a mandatory licensing system for multi-purpose SVF and perform relevant supervision and enforcement functions.   Upon the expiry of the one-year period (i.e. from November 13, 2016 onwards), it will be illegal for any person, unless being exempt, to issue or operate SVF without a licence.

 

Hong Kong Monetary Authority
4 November 2016

Last revision date: 4 November 2016
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