HSBC’s payments app Zing was supposed to be part of the UK lender’s attempt to fend off a growing pool of fintech challengers. But a year after its launch, it is being shut down.

HSBC spent two years building Zing, but it has called time on the international payments app 12 months after launching in the UK in January 2024, a spokesperson for the bank said, confirming an earlier Financial News report.