TikTok explores peer-to-peer payments via DMs
Bloomberg reports hidden code in TikTok's iPhone app reveals a developing P2P payment feature in direct messages using TikTok Pay.
Stock photo for illustration only, not from the actual event
- TikTok is developing a peer-to-peer money transfer feature for DMs.
- Hidden code was uncovered inside the current U.S. iPhone app version.
- The system could leverage the existing TikTok Pay service in Southeast Asia.
- Users sending funds would be able to include attached messages like Venmo.
TikTok is currently working on a new feature that will enable users to send money directly to one another through direct messages, according to a recent report by Bloomberg. If officially launched, this upcoming feature is expected to utilize the platform's existing TikTok Pay offering, which is already active in Southeast Asia to handle TikTok Shop purchases.
References pointing to this potential capability were uncovered within hidden code inside the current U.S. version of the TikTok iPhone app. According to the findings, recipients would be given the ability to tap a button to accept incoming funds, while senders could include personal notes alongside their money transfers, drawing comparisons to popular services like Venmo.
Stock photo for illustration only, not from the actual event
In response to the report, TikTok informed Bloomberg that the feature is not currently being tested, indicating that the project remains in its early development stages. Because development is still underway, it remains entirely unknown whether or when TikTok ultimately plans to roll out peer-to-peer payments to the public.
TikTok's ongoing expansion into financial services marks a strategic evolution beyond traditional social media boundaries, transforming the platform into a comprehensive ecosystem similar to its competitor X, which recently launched X Money. Integrating P2P payments would further solidify TikTok's commerce loop, seamlessly connecting social interactions with financial transactions.
Notably, this is not the company's initial push into financial territory. Earlier this year, Reuters reported that TikTok had formally applied with Brazil's central bank to operate as a fintech firm capable of providing lending and payment services.
Source: TechCrunch
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