TikTok is developing a feature that could allow users to send money to each other through direct messages, Bloomberg reported. The proposed service would use TikTok Pay, the company’s payment platform already available in parts of Southeast Asia for TikTok Shop transactions.
References to the feature were reportedly found in code inside the current US version of TikTok’s iPhone app. The code suggests users could send money within a chat and add a message to the payment. Recipients would reportedly be able to accept transfers by tapping a payment prompt.
TikTok told Bloomberg that the feature is not being tested. That indicates the project is still in its early stages. The company has not said when the feature could launch or whether it will be released to users.
A peer-to-peer payment service would expand TikTok’s role beyond social media and online shopping. It could also put the platform in direct competition with established services such as Venmo and Zelle in the US.
TikTok has been expanding its financial services plans in other markets. Reuters reported in March that the company had applied to Brazil’s central bank for permission to operate as a fintech firm. The proposed activities included lending and payment services.
The potential payment feature also fits into TikTok’s broader push towards a wider digital ecosystem. The platform has added services including search, TikTok Shop, local discovery tools, games and hotel bookings.
TikTok is not alone among social platforms in exploring payments. X recently began rolling out X Money in the US, giving users another way to send money through the platform.
For now, TikTok’s direct-message payment service is only a development project. There is no confirmed launch date or assurance that the feature will reach the public.
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