On 25 August 2016, the HKMA announced that it had granted five stored value facility (SVF) licences, which are the first set of such licences granted by the Hong Kong Monetary Authority (HKMA) under the new Payment Systems and Stored Value Facilities Ordinance (Cap. 584) (PSSVFO). On the same date, the Hong Kong Privacy Commissioner (PC) issued a statement setting out advice on the collection of personal data by operators of SVFs in light of the sensitive data that may be involved.
