The Hong Kong Monetary Authority (HKMA) published today statistics on SVF schemes issued by SVF licensees for the second quarter of 2020.
The SVF scheme statistics (see Annex) include quarterly data on SVF schemes issued by the eighteen SVF licensees (Note 1).
According to the quarterly statistics, the total number of SVF accounts in use (Note 2) was 63.93 million by the end of Q2/2020, representing a 0.5% increase from the previous quarter. The total number of SVF transactions (Note 3) was around 1.3 billion for Q2/2020, or 5.2% higher than the previous quarter. The total value of SVF transactions was HK$55.5 billion for Q2/2020, representing a 14.1% increase from the previous quarter. Of the total transaction value, HK$21.8 billion was related to point-of-sale spending payment, HK$24.5 billion in online spending payment and HK$9.3 billion in P2P funds transfer. The total float and SVF deposit (Note 4) was HK$12.7 billion for Q2/2020, 8.7% higher than the previous quarter.
As compared with the end of Q2/2019, the total number of SVF accounts in use at the end of Q2/2020 was up by 4.4%, and the total float and SVF deposit was up by 16.8%. The total number and value of SVF transactions during Q2/2020 were down by 20.6% and up by 11.3% respectively year-on-year.
Hong Kong Monetary Authority
18 September 2020
Notes: