The Hong Kong Monetary Authority (HKMA) published today (20 June) statistics on SVF schemes issued by SVF licensees for the first quarter of 2025.
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 Q1/2025, the HKMA began to publish “withdrawal” transaction 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 80.89 million at the end of Q1/2025, representing a 1.4% increase from the previous quarter. The total number of SVF transactions was around 2.1 billion in Q1/2025, or 7.6% lower than the previous quarter. The total value of SVF transactions was HK$288.4 billion in Q1/2025, representing a 1.0% increase from the previous quarter. Of the total transaction value, HK$46.0 billion was related to point-of-sale spending payment, HK$20.9 billion in online spending payment, HK$23.5 billion in P2P funds transfer, HK$74.8 billion in withdrawal and HK$123.2 billion in add value. The total float and SVF deposit (Note 3) was HK$19.5 billion at the end of Q1/2025, 1.9% higher than the previous quarter.
As compared with the end of Q1/2024, the total number of SVF accounts in use at the end of Q1/2025 was up by 9.9%, and the total float and SVF deposit was up by 11.6%. The total number and value of SVF transactions during Q1/2025 were up by 5.4% and 43.3% respectively year-on-year.
Hong Kong Monetary Authority
20 June 2025
Notes:
- “Withdrawal” includes ATM cash withdrawal, funds transfer to the accounts of other financial institutions, and outward remittance, etc. Before Q1/2025, SVF transactions data comprise “point-of-sale spending payment”, “online spending payment”, “P2P funds transfer” and “add value”. Following the publication of “withdrawal” transactions, certain transactions that were previously classified as “point-of-sale spending payment”, “online spending payment” or “P2P funds transfer” are now reclassified as “withdrawal” to reflect the relevant nature of such transactions. Figures for Q1/2024 and Q4/2024 have been adjusted accordingly from those released in June 2024 and March 2025 respectively to facilitate cross-period comparison.
- “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.
- The terms “float” and “SVF deposit” follow their definitions in the Payment Systems and Stored Value Facilities Ordinance.
