TikTok Eyes Peer-to-Peer Payments Through Direct Messages

In a move that could reshape its platform, TikTok is reportedly working on a feature enabling users to transfer money via direct messages. This functionality would leverage TikTok Pay, already active in Southeast Asia for shopping.

Bloomberg's findings reveal traces of this feature in the code of TikTok's U.S. iPhone app, suggesting users could accept payments with a simple tap and send accompanying messages, akin to Venmo.

While TikTok has confirmed that no tests are currently underway, the initiative indicates the platform's ambitions to broaden its financial services. Earlier this year, it sought approval from Brazil's central bank to operate as a financial tech entity.

Source: techcrunch.com