Hong Kong has no card rule specific to companies. Prepaid cards and e-wallets fall under the HKMA's licensing of stored value facilities, set out below.
The HKMA licensing regime for stored value facilities, in factual terms.
The HKMA licenses and supervises stored value facilities (e-wallets and prepaid cards) and designates and oversees retail payment systems, under the Payment Systems and Stored Value Facilities Ordinance; a licence is granted only if the HKMA is satisfied minimum criteria are met, and they must continue to be met.
Only multi-purpose stored value facilities (usable with third parties or for peer-to-peer payments) need an HKMA licence; single-purpose facilities usable only for the issuer's own goods or services do not. Credit cards and Apple Pay have no stored value function and fall outside the SVF licensing regime.
The HKMA must keep a public online Register of SVF Licensees under the Ordinance; each entry gives the licensee's name, its Hong Kong principal place of business and its licence number, and each licensee has a unique licence number users can check.
SVF licensees must run adequate AML/CFT controls, and the HKMA supervises them with a supervision guideline and practice note, on-site examinations, off-site reviews and independent assessments, and can impose pecuniary penalties under section 33Q of the Ordinance.
Under the same Ordinance the HKMA designates important retail payment systems (arrangements for transfers, clearing or settlement of payments relating to retail activities) and can sanction operators; designation criteria are set in the Ordinance.
Stored Value Facilities and Retail Payment Systems — HKMA
e-Wallets and Prepaid Cards — HKMA
Register of SVF Licensees — HKMA
Regulatory Regime for Stored Value Facilities — HKMA
Fact sheet last reviewed 2026-09-26. Jurisdiction rules are confirmed against the sources above; a provider's own requirements differ and are confirmed by the provider.
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Only multi-purpose stored value facilities (usable with third parties or for peer-to-peer payments) need an HKMA licence; single-purpose facilities usable only for the issuer's own goods or services do not. Credit cards and Apple Pay have no stored value function and fall outside the SVF licensing regime.
The HKMA must keep a public online Register of SVF Licensees under the Ordinance; each entry gives the licensee's name, its Hong Kong principal place of business and its licence number, and each licensee has a unique licence number users can check.
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