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

The Hong Kong Monetary Authority (HKMA) published today (16 September) statistics on SVF schemes issued by SVF licensees for the second 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 62.86 million by the end of Q2/2022, representing a 2.7% decrease from the previous quarter. The total number of SVF transactions was around 1.8 billion for Q2/2022, or 31.3% higher than the previous quarter. The total value of SVF transactions was HK$158.3 billion for Q2/2022, representing a 42.6% increase from the previous quarter. Of the total transaction value, HK$50.9 billion was related to point-of-sale spending payment, HK$18.8billion in online spending payment, HK$12.8billion in P2P funds transfer and $75.8 billion in add value. The total float and SVF deposit (Note 3) was HK$15.9billion for the end of Q2/2022, 7.7% higher than the previous quarter.

As compared with the end of Q2/2021, the total number of SVF accounts in use at the end of Q2/2022 was down by 2.3%, and the total float and SVF deposit was up by 13.8%. The total number and value of SVF transactions during Q2/2022 were up by 6.2% and 50.9% respectively year-on-year.

Hong Kong Monetary Authority
16 September 2022

Notes:

1. 1. Before Q1/2022, SVF transactions data comprise point-of-sale spending payment, online spending payment and P2P funds transfer. Following the publication of “add value” transactions, transactions relating to certain receipts of online spending payment and P2P funds transfer that were previously counted under “online spending payment” or “P2P funds transfer” are now counted under “add value” to reflect the relevant nature of such transactions. Figures for Q2/2021 have been adjusted accordingly from those released in September 2021 to facilitate cross-period comparison.
   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. The terms “float” and “SVF deposit” follow their definitions in the Payment Systems and Stored Value Facilities Ordinance.