{"id":235199,"date":"2024-06-21T23:35:33","date_gmt":"2024-06-21T23:35:33","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/06\/21\/hkma-releases-q1-2024-statistics-on-stored-value-facilities-schemes\/"},"modified":"2025-06-25T17:16:28","modified_gmt":"2025-06-25T17:16:28","slug":"hkma-releases-q1-2024-statistics-on-stored-value-facilities-schemes","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/06\/21\/hkma-releases-q1-2024-statistics-on-stored-value-facilities-schemes\/","title":{"rendered":"HKMA Releases Q1 2024 Statistics on Stored Value Facilities Schemes"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<figure class=\"figure mt-2\">&#13;<br \/>\n                        <a href=\"https:\/\/blockchainstock.blob.core.windows.net:443\/features\/3721DE0B5A7CDEA646827E2D56C8360109F497AA40AB4E9EEB9DCA6243E4FFE8.jpg\">&#13;<br \/>\n                            <img decoding=\"async\" class=\"rounded\" src=\"https:\/\/blockchainstock.blob.core.windows.net:443\/features\/3721DE0B5A7CDEA646827E2D56C8360109F497AA40AB4E9EEB9DCA6243E4FFE8.jpg\" alt=\"HKMA Releases Q1 2024 Statistics on Stored Value Facilities Schemes\"\/>&#13;<br \/>\n&#13;<br \/>\n                        <\/a>&#13;<br \/>\n                    <\/figure>\n<p>The Hong Kong Monetary Authority (HKMA) has released its first-quarter statistics for 2024 on Stored Value Facilities (SVF) schemes, according to <a rel=\"nofollow\" href=\"https:\/\/www.hkma.gov.hk\/eng\/news-and-media\/press-releases\/2024\/06\/20240621-3\/\">HKMA<\/a>. These statistics provide valuable insights into the usage and transaction volumes of SVF accounts issued by licensed operators.<\/p>\n<h2>Key Statistics and Growth<\/h2>\n<p>By the end of Q1 2024, the total number of SVF accounts in use reached 73.58 million, marking a 3.0% increase from the previous quarter. The total number of SVF transactions for this period was approximately 1.9 billion, representing a 4.0% decrease from Q4 2023. Despite the drop in transaction volume, the total value of SVF transactions rose by 1.0% to HK$166.1 billion.<\/p>\n<p>The breakdown of the total transaction value is as follows:<\/p>\n<ul>\n<li>Point-of-sale spending payments: HK$42.8 billion<\/li>\n<li>Online spending payments: HK$25.2 billion<\/li>\n<li>Peer-to-peer (P2P) funds transfers: HK$14.2 billion<\/li>\n<li>Add value transactions: HK$83.9 billion<\/li>\n<\/ul>\n<p>Additionally, the total float and SVF deposit amounted to HK$17.5 billion at the end of Q1 2024, which is a 1.4% increase from the previous quarter.<\/p>\n<h2>Year-on-Year Comparisons<\/h2>\n<p>Comparing year-on-year data, the total number of SVF accounts in use by the end of Q1 2024 saw a 16.9% increase from Q1 2023. The total float and SVF deposit also experienced a 9.7% rise. The total number and value of SVF transactions during Q1 2024 increased by 5.5% and 19.9%, respectively, compared to the same period last year.<\/p>\n<h2>Notes and Definitions<\/h2>\n<p>The HKMA clarifies that the \u201ctotal number of SVF accounts in use\u201d refers to the total number of SVF accounts operational at the end of the reporting period. The terms \u201cfloat\u201d and \u201cSVF deposit\u201d are defined as per the Payment Systems and Stored Value Facilities Ordinance.<\/p>\n<p>The HKMA&#8217;s publication of these statistics is a part of its ongoing efforts to maintain transparency and provide stakeholders with up-to-date information on the performance and adoption of SVF schemes in Hong Kong.<\/p>\n<p><span><i>Image source: Shutterstock<\/i><\/span>                    <!-- Divider --><\/p>\n<p>                    <!-- Divider --><\/p>\n<p>                    <!-- Author info START --><br \/>\n                    <!-- Author info END --><br \/>\n                    <!-- Divider -->\n                <\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/blockchain.news\/news\/hkma-releases-q1-2024-statistics-stored-value-facilities-schemes\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] &#13; &#13; &#13; &#13; &#13; The Hong Kong Monetary Authority (HKMA) has released its first-quarter statistics for 2024 on Stored Value Facilities (SVF) schemes,<\/p>\n","protected":false},"author":1,"featured_media":235200,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[171],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/235199"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=235199"}],"version-history":[{"count":0,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/235199\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/235200"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=235199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=235199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=235199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}