HSBC Holdings (HSBC) is planning to launch an international payments app called Zing, aimed at competing with fintechs like Revolut and Wise PLC (WPLCF), which have amassed tens of millions of retail customers by offering cheap foreign exchange, Bloomberg’s Harry Wilson reports, citing Nuno Matos, HSBC’s CEO of global wealth and personal banking. The app, which will be open to non-HSBC customers, will initially be offered in the UK via Apple’s Appstore and Alphabet’s Google Play platform within days and the bank plans to debut the service in other regions in the coming months.
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