03:04 PM EST, 01/22/2025 (MT Newswires) -- HSBC Holdings ( HSBC ) has decided to close down international payments app Zing, which the lender launched last year, the Financial News reported Wednesday.

The bank made the decision after facing challenges in restructuring Zing's compliance functions, the publication reported, citing a person familiar with the matter.

HSBC ( HSBC ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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