The Hong Kong Monetary Authority (HKMA) published today (17 June) statistics on SVF schemes issued by SVF licensees for the first quarter of 2022.
The SVF scheme statistics (see Annex) include quarterly data on SVF schemes issued by the SVF licensees of the relevant periods. Starting from the statistics for Q1/2022, the HKMA began to publish “add value” transactions data to provide more information regarding SVF transactions (Note 1).
According to the quarterly statistics, the total number of SVF accounts in use (Note 2) was 64.58 million by the end of Q1/2022, representing a 2.8% decrease from the previous quarter. The total number of SVF transactions was around 1.3 billion for Q1/2022, or 29.0% lower than the previous quarter. The total value of SVF transactions was HK$111.0 billion for Q1/2022, representing a 20.5% decrease from the previous quarter. Of the total transaction value, HK$28.5 billion was related to point-of-sale spending payment, HK$16.7 billion in online spending payment, HK$11.6 billion in P2P funds transfer and $54.3 billion in add value. The total float and SVF deposit (Note 3) was HK$14.7 billion for the end of Q1/2022, 4.7% lower than the previous quarter.
As compared with the end of Q1/2021, the total number of SVF accounts in use at the end of Q1/2022 was up by 1.2%, and the total float and SVF deposit was up by 6.3%. The total number and value of SVF transactions during Q1/2022 were down by 8.5% and up by 14.2% respectively year-on-year.
Hong Kong Monetary Authority
17 June 2022
Notes: