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HSBC and Visa Partner on Multi-Currency Zing App

Analyst Team trader
Updated 9 Jul 2024

In a notable move within the financial services industry, Visa (NYSE: V) and HSBC (LON: HSBA) have embarked on a technological partnership. The collaboration underlines the growing emphasis on digital payments solutions, aiming at bolstering HSBC Group’s international payments portfolio through the new app called Zing. This marks a significant step in both companies' endeavours to enhance the global payments ecosystem.

HSBC and Visa's joint venture centers on the Zing app, which is designed to streamline the process of international money movements. Zing sets itself apart by enabling users to hold funds in more than 10 different currencies. Its functionality extends across over 200 countries, providing a comprehensive transaction platform through a single, easily manageable app complemented by a multi-currency card.

Zing's capabilities were first put to the test in the U.K. with its initial launch in January 2024, where it has since gained traction. Following this success, there are plans underway to broaden its reach to other markets, promising international consumers a more interconnected and efficient payments solution.

The collaboration with Visa has been pivotal to Zing’s functionality. With Visa's extensive global reach, Zing could incorporate a multi-currency wallet. This feature harnesses Currencycloud’s technology, further advancing the app's usability. Additionally, Zing offers an array of top-up options, which includes a ‘quick bank transfer' facility utilizing Tink's open banking technology, thereby providing ease and flexibility in managing finances.

Furthermore, Zing presents a suite of services tailored to the needs of the modern consumer. Low-cost currency exchange, robust financial management tools, instant collections, real-time exchange rates, and person-to-person payments form the core offerings of the Zing app. All these services are linked seamlessly to a Visa card, making transactions secure and convenient.


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At the heart of HSBC and Visa's partnership lies a clear mission: to simplify the complexities involved in international money transfers and to deliver trusty financial services to consumers worldwide. This collaboration is not just about immediate benefits but also focuses on future enhancements. The agreement sets the stage for the introduction of new features and currencies, and for expanding Zing's global footprint in international markets.

The development of Zing and its capabilities embodies the shifting trends in consumer finance, emphasising the need for technology-driven solutions that can accommodate the demands of a globalised economy. The collaboration between these two industry giants, Visa and HSBC, offers an innovative approach to international payments, with a promise to enhance the financial management landscape. As Zing prepares to enter new markets, it stands as a testament to the potential of partnership and innovation in the evolving world of digital finance.

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The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.