HSBC’s Zing and Visa partner to power cross border payments

By Gloria Methri

Visa and HSBC have announced a 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 funds in over 30 currencies, and transact in over 200 countries and territories worldwide, all managed through a single app and smart multi-currency card.

The app was launched in the U.K. in January 2024 and will expand to additional markets soon.

Zing has a single point of contact for the entire project. It delivers a multi-currency wallet courtesy of Currencycloud technology and multiple methods to top up an account, including ‘quick bank transfer’, due to open banking technology delivered by Tink—both Visa solutions.

In addition, Zing offers internationally-minded consumers in the U.K. a range of digital services, all linked to a Visa card, such as low-cost and transparent currency exchange, financial management, instant collections, real-time exchange rates, and person-to-person (P2P) payments.

“Zing shows how outdated the legacy financial services versus FinTech narrative really is.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.

“In today’s connected world, consumers should be able to move money as simply and routinely as sending a text message,” 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 and currencies to more international markets in the future.