HSBC has launched an international money FinTech.
Zing, available from today on iOS and Android, is a free-to-download multi-currency app and debit card which can be used globally in more than 200 countries and territories.
It also allows customers to send or convert money using multiple currencies – currently more than 30 are enabled at launch – using a combination of local and Swift payments.
At launch there is the ability to hold up to 10 currencies in wallets to lock in rates and ‘spend like a local’ in these currencies. It also features FX sweeping, the automatic conversion of currencies held in other wallets to complete a transaction at the point-of-sale.
“Now is the time for a new kind of international payments solution; one that combines cutting-edge innovation with the support of a global bank,” said James Allan, founder and CEO of Zing.
“Zing delivers this truly unique proposition for consumers, helping them live their best international lives. By listening to the market we have put our focus on product excellence and great service.
“Zing enables users to get on with the things that matter to them; sending their money quickly, easily, and securely overseas, spending money with confidence wherever they are in the world, and being supported by human customer service whenever they need.
“Zing is built differently to deliver international money without the worry.”
The first 10,000 people to join Zing will become ‘founding members’ and soon after launch will begin to receive exclusive rewards in their first year including their choice of Zing fee-free currency conversions (up to £1,000 transactions) or 20 Zing fee-free international ATM withdrawals.