BREAKING: HSBC's Bold Move in International Payments Launching Zing

Happy New Year!

We start the news year with big news in digital banking: HSBC is set to debut an international payments app called Zing, aimed at directly challenging the dominance of FinTechs like Revolut and Wise.

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.

The app will be available on Apple Inc.’s Appstore and Alphabet Inc.’s Google Play platform within days and will be open to non-HSBC customers as the bank prepares to “attack” the worldwide retail payments market, according to?Nuno Matos, chief executive officer of the lender’s global wealth and personal banking business. Matos said it would take about three minutes for a new user to sign up.

“Zing has a global ambition,” Matos said in an interview. “We want to establish ourselves as a global platform for international payments, which ties perfectly with our international payments strategy for HSBC and you should see us very soon in Asia, in the Middle East and in EU markets.”

Let's see how this plays out...

Cheers,

Marcel

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