HSBC Takes On Revolut, Wise With New Forex App for Non-Customers
- Zing will be available within days on Appstore and Google Play
- HSBC banking CEO Nuno Matos says lender will ‘attack’ market
HSBC Holdings Plc is set to debut an international payments app aimed at directly challenging the dominance of fintechs like Revolut and Wise Plc that have gathered tens of millions of retail customers by offering cheap foreign exchange.
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.