HSBC Partnered with Visa to Develop Zing International Money App
July 09 2024 - 9:13AM
Business Wire
- Zing members are able to hold funds in up to 10 different
currencies, send over 30 currencies, and transact in more than 200
countries and territories worldwide
- Zing leverages Visa technology to empower UK members with
international money needs
Visa (NYSE: V) and HSBC (LON: HSBA) today announced the
technological collaboration in support of HSBC Group’s new
international payments app, Zing. Zing enables users to hold funds
in over 10 different currencies, send over 30 currencies, transact
in over 200 countries and territories worldwide, all managed
through a single app and smart multi-currency card. The app
successfully launched in the U.K. in January 2024 and will expand
to additional markets in the near future.
Thanks to the cooperation with Visa, Zing was able to have a
single point of contact for the entire project that delivered a
multi-currency wallet courtesy of Currencycloud technology, and
multiple methods to top-up an account including ‘quick bank
transfer’, thanks to open banking technology delivered by Tink –
both Visa solutions. In addition, thanks to Visa technology, Zing
offers internationally minded consumers in the U.K. a range of
digital services including very low-cost and transparent currency
exchange, financial management, instant collections, real-time
exchange rates, and person-to-person (P2P) payments, all linked to
a Visa card.
Currencycloud and Tink enabled speed-to-market for the Zing team
by providing ready-made solutions to be added to Zing’s core
infrastructure, saving on development time and the costs associated
with building and maintaining their own solutions. “Zing shows how
outdated the ‘legacy financial services versus fintechs’ narrative
really is. The reality is that you don’t have to choose; Zing is as
intuitive, quick, and transparent as anything to come out of the
fintech boom – but with the benefits of 150 years of international
finance experience as part of the HSBC Group,” said James Allan,
CEO and Founder at Zing. “We shared a clear vision with our
partners at Visa – that people all across the globe want easy to
use, secure, and trustworthy financial products that enable them to
live their best international lives. Zing delivers on that promise,
and we look forward to building on this partnership in the
future.”
“In today’s connected world, consumers should be able to move
money as simply and routinely as sending a text message. Yet, in
many cases, consumers still rely on manual, paper-based processes,
high fees and cash to send and receive money across borders,” said
Serge Elkiner, Global Head of Product, Money Movement Solutions at
Visa. “Our partners and customers, and more importantly, their
customers, want simplicity. By combining the benefits of Tink and
Currencycloud with the wider Visa solutions and brand, we have
delivered a great solution in double-quick time.”
The new global agreement between Visa and HSBC allows Zing to
roll out new features, currencies, and to more international
markets in the future.
For more information on Zing, please visit https://zing.me/
About Visa
Visa (NYSE: V) is a world leader in digital payments,
facilitating transactions between consumers, merchants, financial
institutions and government entities across more than 200 countries
and territories. Our mission is to connect the world through the
most innovative, convenient, reliable and secure payments network,
enabling individuals, businesses and economies to thrive. We
believe that economies that include everyone everywhere, uplift
everyone everywhere and see access as foundational to the future of
money movement.
Learn more at Visa.com.
About Zing
Zing is a new international money fintech, part of the HSBC
Group, with the mission to enable anyone to live their best
international lives by making converting, holding, spending, and
sending international currencies easy and worry-free.
About HSBC
HSBC Holdings plc, the parent company of HSBC, is headquartered
in London. HSBC serves customers worldwide from offices in 62
countries and territories. With assets of $3,021bn at 30 September
2023, HSBC is one of the world’s largest banking and financial
services organisations.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240709015120/en/
Matt Rowntree, Head of Communications Visa Cross-Border
Solutions, mrowntre@visa.com
Visa (NYSE:V)
Historical Stock Chart
From Jun 2024 to Jul 2024
Visa (NYSE:V)
Historical Stock Chart
From Jul 2023 to Jul 2024