HSBC will close its Fintech Zing payment application.
The multi -time application and the free download card card were launched in January 2024. and could be be used worldwide in more than 200 countries and territories.
Considered a revolut rival, it also allowed customers to send or convert money to several currencies using a combination of local payments and Swift.
After the news was reported for the first time by Financial News, a source close to the file told Reuters that the decision could endanger around 400 jobs.
“Following a strategic zing examination within the HSBC group and a careful examination, we made the decision to close Zing and integrate its underlying technological platform in HSBC,” said a carrier Word of HSBC.
“HSBC strives to increase its leadership and market share in the fields where it has an obvious competitive advantage and where it has the greatest growth and customer support opportunities.
HSBC encountered difficulties in adopting Fintech in its services. Last year, she canceled her investment in Monse – A company saved since its London Fintech Pockit compatriot – Only two years later Investing $ 35 million in the first bank based on UK applications.