HSBC Launches New International Payments App

In the retail banking market, the new app, called Zing, has taken on Revolut and Wise. "We want to establish ourselves as a global platform for international payments."

By Harry Wilson | January 05, 2024 at 11:12 AM

The HSBC Holdings Plc logo on the facade of the company's headquarters in Hong Kong, China, on Friday, Feb. 18, 2022. Photographer: Paul Yeung/Bloomberg

HSBC Holdings Plc is set to debut an international payments app aimed at directly challenging the dominance of fintechs like Revolut and Wise Plc, which have gathered tens of millions of retail customers by offering cheap foreign exchange (FX).

The app, named Zing, will initially be offered in the UK, but Europe's largest bank is planning to roll out the service in other places in the coming months as it looks to grab a share of the fast-growing market servicing affluent consumers.

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