HSBC’s Zing: Forex App Takes on Fintech Startups with Style

HSBC Holdings is set to launch a new international payments app called Zing, which will compete with fintech giants such as Revolut and Wise. The app will offer competitive foreign exchange rates and initially launch in the UK, with plans to expand into additional markets soon. Zing will be available on both Apple’s Appstore and Google Play, and can be accessed by non-HSBC users as well. The launch of Zing is part of HSBC’s broader initiative to penetrate the global retail payments market and attract new customers. The bank’s existing service, Global Money, has already seen significant uptake with transactions totaling about $11 billion in 2022. With Zing, HSBC aims to solidify its position as the premier bank for customers with international lifestyles.