TikTok is reportedly exploring a new feature that could allow users to send money to each other through direct messages.
According to Bloomberg, the potential feature would use TikTok Pay, the company’s existing payment service that is already available in parts of Southeast Asia for TikTok Shop purchases.
References to the feature were reportedly discovered in code hidden inside the current U.S. version of TikTok’s iPhone app. The code suggests that people receiving money could “tap to accept” a payment, while senders could attach a message to the transaction, similar to how peer-to-peer payment services such as Venmo work.
However, TikTok says the feature is not currently being tested. That suggests the payment system is still in an early stage of development, and there is no confirmation that it will eventually become available to users.
The reported move would not be TikTok’s first attempt to expand further into financial services. Reuters reported earlier this year that TikTok had applied to Brazil’s central bank for authorization to operate as a financial technology company, potentially offering lending and payment services.
TikTok has also been steadily expanding beyond its traditional role as a short-video platform. The company has added features including enhanced search, TikTok Shop, local discovery tools, games, and hotel bookings as it continues moving toward a broader super-app model.
If peer-to-peer payments are eventually introduced, TikTok could find itself competing with established services such as Venmo and Zelle, while making money transfers another part of its growing ecosystem.
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TikTok is also following a broader trend among social platforms moving into financial services. X, formerly known as Twitter, recently launched X Money in the US, allowing users to send money to one another through the platform.
