Zing will launch in the UK before expanding to other markets
Zing will offer UK residents a debit card and international money solutions, such as online and offline spending, and sending and converting currencies.
The new fintech is targeting expats, business and leisure travellers, and international investors with its app.
James Allan, founder and chief executive officer of Zing, said: “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. Zing delivers this truly unique proposition for consumers, helping them live their best international lives.”
The app allows users to hold up to 10 currencies in their wallet to lock in rates and spend like a local in these currencies. Zing enables purchases in 200 countries and territories, providing a global reach for its customers.
The multi-currency debit card also features FX sweeping—if you don’t have enough local currency to make a payment, the card can automatically convert other held currencies to complete a purchase.
Zing customers can send money internationally in 30 currencies, using a combination of local and Swift payments.
Allan added: “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 it.”