HSBC Takes On Revolut With New Forex App for Non-Customers (1)

HSBC Holdings Plc is set to debut an international payments app aimed at directly challenging the dominance of fintechs like Revolut and Wise Plc that have gathered tens of millions of retail customers by offering cheap foreign exchange.

Zing will initially be offered in the UK, but Europe’s largest bank is planning to roll out the service in other places in the coming months as it looks to grab a share of the fast-growing market servicing affluent consumers.

Nuno Matos

Photographer: Paul Yeung/Bloomberg

The app will be available on Apple Inc.’s Appstore and Alphabet Inc.’s Google Play platform within days and will be open ...