HKMA publishes SVF scheme statistics for Q1/2025, showing a 1.4% increase in SVF accounts and a 7.6% decrease in SVF transactions. The total SVF transaction value rose by 1.0% to HK$288.4 billion, with HK$46.0 billion in 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 increased by 1.9% to HK$19.5 billion.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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The Hong Kong Monetary Authority ("HKMA") released quarterly data and withdrawal transaction details for Stored Value Facilities ("SVF") schemes issued by SVF licensees for the first quarter of 2025, on June 20, 2025.
At the end of Q1/2025, the total SVF accounts in use reached 80.89 million, representing a 1.4% increase from the previous quarter. Total SVF transactions for the quarter amounted to 2.1 billion, a decrease of 7.6% compared to the previous quarter, and the total transaction value stood at HK$288.4 billion, showing a 1.0% increase.
SVF transactions were categorized as follows: HK$46.0 billion for point-of-sale spending, HK$20.9 billion for online spending, HK$23.5 billion for P2P funds transfer, HK$74.8 billion for withdrawal, and HK$123.2 billion for add value.
The total float and SVF deposit, at the end of Q1/2025, was HK$19.5 billion, representing a 1.9% increase from the previous quarter.
Comparing the end of Q1/2025 to the end of Q1/2024, the total number of SVF accounts increased by 9.9%, while the total float and SVF deposit rose by 11.6%. Year-on-year, the total number of SVF transactions rose by 5.4%, with the transaction value increasing by 43.3%.
Historically, SVF transaction data included point-of-sale spending payment, online spending payment, P2P funds transfer, and add value. Upon the inclusion of withdrawal transactions, certain categories were reclassified for better accuracy, and data for Q1/2024 and Q4/2024 was adjusted accordingly.
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