Visa Inc. (V) and HSBC Holdings plc (HSBA.L) have announced a technological partnership to support the HSBC Group's latest international payments app, Zing. Originally launched in the UK in January 2024, Zing is set to expand its reach to additional markets soon.
The Zing app allows users to manage funds in over 10 different currencies, send money in more than 30 currencies, and conduct transactions in over 200 countries and territories—all through a single app and a versatile multi-currency card.
By leveraging Currencycloud technology, Zing managed to create a comprehensive multi-currency wallet, with a single point of contact overseeing the entire project's execution. Additionally, Tink, another Visa solution, introduced 'quick bank transfer' capabilities through open banking technology, providing users with multiple methods to top-up their accounts.
UK-based internationally minded consumers can enjoy a range of digital services through Zing, including low-cost and transparent currency exchange, financial management tools, instant collections, real-time exchange rates, and person-to-person (P2P) payments, all connected to a Visa card.
Currencycloud and Tink have significantly expedited the Zing team's time-to-market by offering ready-made solutions that integrate seamlessly into Zing's core infrastructure.
The new global agreement between Visa and HSBC is set to facilitate Zing's future rollout of additional features, new currencies, and expansion into more international markets.
