HKMA publishes statistics on investment systems for Q1 2024

The Hong Kong Monetary Authority (HKMA) has released its statistics for the first quarter of 2024 on Stored Value Facilities (SVF) systems, according to the HKMA. These statistics provide valuable insights into the usage and transaction volume of SVF accounts issued by licensed operators.

Key statistics and growth

By the end of Q1 2024, the total number of SVF accounts in use reached 73.58 million, an increase of 3.0% from the previous quarter. The total number of SVF transactions for the period was approximately 1.9 billion, a decrease of 4.0% from Q4 2023. Despite the decline in transaction volume, the total value of SVF transactions increased by 1.0% to HK$166.1 billion.

The total transaction value is broken down as follows:

• Point-of-sale spending: HK$42.8 billion
• Online spending payments: HK$25.2 billion
• Peer-to-peer (P2P) money transfers: HK$14.2 billion
• Value-added transactions: HK$83.9 billion

In addition, total float and SVF deposits at the end of the first quarter of 2024 amounted to HK$17.5 billion, an increase of 1.4% quarter-on-quarter.

Year-on-year comparison

Compared to the same period last year, the total number of SVF accounts in use by the end of Q1 2024 increased by 16.9% compared to Q1 2023. The total float and SVF deposits also increased by 9.7%. The total number and value of SVF transactions in Q1 2024 increased by 5.5% and 19.9%, respectively, compared to the same period last year.

Notes and definitions

The HKMA clarifies that the “total number of SVF accounts in use” refers to the total number of SVF accounts active at the end of the reporting period. The terms “float” and “SVF deposit” are defined in accordance with the Payment Systems and Asset Management Regulations.

The publication of these statistics by the HKMA is part of its ongoing efforts to maintain transparency and provide stakeholders with up-to-date information on the performance and implementation of SVF systems in Hong Kong.

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