Statistics of Stored Value Facilities (SVF) Schemes Issued by SVF Licensees

The Hong Kong Monetary Authority (HKMA) published today statistics on SVF schemes issued by SVF licensees for the first quarter of 2017.

The SVF scheme statistics (see Annex) include quarterly data on SVF schemes issued by the sixteen SVF licensees (Note 1). The HKMA began to publish the SVF scheme statistics on a quarterly basis in March 2017 to enhance transparency of the SVF industry in Hong Kong.

According to the quarterly statistics, the total number of SVF accounts in use (Note 2) was 42.0 million by the end of Q1/2017. The figure represents a 3.8% increase from the previous quarter. The total number of SVF transactions (Note 3) was 1.4 billion for Q1/2017, representing a 3.7% decrease from the previous quarter. The total value of SVF transactions was HK$30.0 billion for Q1/2017, down 1.0% from the previous quarter. The modest decline in the number and value of SVF transactions was believed to be mainly due to seasonal factors.

Of the total transaction value, HK$17.9 billion was related to point-of-sale spending payment, HK$11.6 billion in online spending payment and HK$0.5 billion in P2P funds transfer. The total float and SVF deposit (Note 4) was $6.9 billion for Q1/2017, 2.0% higher than the previous quarter.

Hong Kong Monetary Authority
23 June 2017

Notes:

1. The SVF scheme statistics are compiled from data on SVF schemes issued by the sixteen SVF licensees. The SVF licensees, in alphabetical order, are 33 Financial Services Limited, Alipay Financial Services (HK) Limited, Autotoll Limited, Bank of Communications Co., Ltd., Dah Sing Bank, Limited, ePaylinks Technology Co., 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 and WeChat Pay Hong Kong Limited. Due to different commencement dates, not all SVF licensees have operated SVF scheme(s) throughout the entire first quarter of 2017.
2. “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.
3. SVF transactions include point-of-sale spending payment, online spending payment and P2P funds transfer.
4. The following terms in the Annex follow their definitions in the Payment Systems and Stored Value Facilities Ordinance regarding a stored value facility:

• 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.