HKMA grants stored value licences to eight more issuers including PayPal

The Hong Kong Monetary Authority (HKMA) said on Friday that it had granted stored value facilities (SVF) licences to eight more issuers including Paypal Hong Kong Limited, bringing the total to 13. "We are pleased to see companies with diverse backgrounds offering a variety of SVF products which will enhance retail payment convenience in Hong Kong," said Howard Lee, Senior Executive Director of the HKMA. The implementation of a supervisory regime by the HKMA will strengthen public confidence in