LONDON—HSBC Bank has launched Zing, a new international payments app.
Zing is a free, multi-currency app and debit card that U.K. residents will be able to use in more than 200 countries and territories. Its target audience includes expatriates, business and leisure travelers, and international investors, Fintech Futures said.
According to HSBC, the app will enable users to spend offline and online worldwide, send and convert multiple currencies at “transparent fees and competitive rates” and provide 24/7 customer support.
The Features
HSBC said features at launch include the ability to:
- Hold money in wallets with locked-in rates for up to 10 currencies
- A multi-currency debit card with FX sweeping that allows for currencies in other wallets to be automatically converted in order to complete a transaction at point of sale.
- Ability to send money across borders in over 30 currencies using local payment methods and Swift,
Zing has been authorized as an e-money institution (EMI) by the U.K.’s Financial Conduct Authority, Fintech Futures noted.
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