SVF licences for eight more companies

SVF licences have been granted to eight companies, including PayPal Hong Kong, by the Hong Kong Monetary Authority (HKMA).
The other recipients of the stored-value facilities licences are 33 Financial Services, Autotoll, ePaylinks Technology, K&R International, Optal Asia, Transforex (Hong Kong) Investment Consulting and UniCard Solution.
It is the second batch of SVF licences to be issued, taking the total in the market to 13.
“We are pleased to see companies with diverse backgrounds offering a variety of SVF products that will enhance retail payment convenience in Hong Kong,” says HKMA senior executive director Howard Lee.  
Under the SVF ordinance, which launched in November last year, a one-year transition period was granted for licence applications.

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