Granting of Stored Value Facility Licences

The Hong Kong Monetary Authority (HKMA) announced today (10 May 2019) that the Monetary Authority has granted stored value facility (SVF) licences to the following SVF issuers under the Payment Systems and Stored Value Facilities Ordinance (the Ordinance):

Mr Howard Lee, Deputy Chief Executive of the HKMA, said, “The SVF industry has been growing since the implementation of the SVF licensing regime in 2016.  We hope the existing as well as the new licensees will continue to launch new services to bring more convenience and choices to consumers and merchants, and to promote diversity in the payment ecosystem of Hong Kong.”

There are currently 15 non-bank SVF licensees including the above two, and 3 licensed banks are also operating SVFs.  The latest SVF licensees list is set out in the “Register of Stored Value Facility Licensees” on the HKMA website（URL：https://www.hkma.gov.hk/eng/key-functions/international-financial-centre/regulatory-regime-for-svf-and-rps/regulation-of-svf/register-of-svf-licensees.shtml）.

Hong Kong Monetary Authority
10 May 2019