Act 2015
Payment Systems and Stored Value Facilities Ordinance (Cap. 584)
Issued by Hong Kong Monetary Authority
Effective: 13 Nov 2015
Last amended: 13 May 2025
Summary
The Payment Systems and Stored Value Facilities Ordinance (Cap. 584) is the law that governs retail payment and electronic money systems in Hong Kong by giving the Hong Kong Monetary Authority jurisdiction over the clearing and settlement facilities. This ordinance ensures that a stringent licensing system is adhered to and that the customer float is separated from the operational funds.
Topics: Payments & Fintech / Digital Assets
Who it applies to
Banking · Payments & Fintech
Obligations arising from this law or regulation
| Obligation | Timing | Regulator | Source | Detail |
|---|---|---|---|---|
| Stored value facility licensees: adequate AML/CFT systems of control | Ongoing licence criterion | HKMA | official | |
Section 8Q of the PSSVFO requires SVF licensees to meet the minimum criteria in Schedule 3; Part 2, section 6(2)(b) concerns adequate and appropriate systems of control to comply with the HKMA's SVF AML guideline. In July 2025 the HKMA fined 33 Financial Services Limited HK$1.6 million under section 33Q for gaps in purpose-and-nature information, CDD on business entities and outsourced identification. |
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| No obligations match these filters. | ||||
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