The Hong Kong Monetary Authority (HKMA) published today statistics on SVF schemes issued by SVF licensees for the first quarter of 2019.
According to the quarterly statistics, the total number of SVF accounts in use (Note 2) was 59.34 million by the end of Q1/2019, representing a 5.8% increase from the previous quarter. The total number of SVF transactions (Note 3) was around 1.6 billion for Q1/2019, or 4.4% lower than the previous quarter. The total value of SVF transactions was HK$47.5 billion for Q1/2019, representing a 1.3% drop from the previous quarter. Of the total transaction value, HK$23.2 billion was related to point-of-sale spending payment, HK$16.8 billion in online spending payment and HK$7.4 billion in P2P funds transfer. The total float and SVF deposit (Note 4) was HK$10.4 billion for Q1/2019, 6.5% higher than the previous quarter. The quarter-to-quarter drops in payment transaction number and value in Q1/2019 are likely due to seasonal factors as a similar pattern was observed in the previous year.
As compared with the end of Q1/2018, the total number of SVF accounts in use at the end of Q1/2019 was up by 21.1%, and the total float and SVF deposit was up by 22.8%. The total number and value of SVF transactions during Q1/2019 were up by 9.7% and 21.7% respectively year-on-year.
Hong Kong Monetary Authority
21 June 2019