TikTok explores peer-to-peer payments via DMs, report says
TikTok is reportedly developing a peer-to-peer payment feature within its direct messaging interface. The feature, currently in early development, would allow users to send money to one another, mirroring functionality found in apps like Venmo.
Why it matters
This move signals TikTok's continued evolution from a social media platform into a comprehensive financial services ecosystem, directly challenging established fintech players.
TikTok is developing a feature that would allow users to send each other money via direct messages, according to a new report from Bloomberg . If rolled out, the feature would use the social media service’s TikTok Pay offering, which is already available in Southeast Asia for TikTok Shop purchases.
References to the potential feature were found in code hidden within the current version of TikTok’s U.S. iPhone app, according to the report. The code indicates that recipients would be able to “tap to accept” payments, while senders could include messages with their payments, similar to Venmo.
TikTok told Bloomberg that the feature is not being tested, which suggests that it’s in early development. Given that the feature is still under development, it’s unknown when or if TikTok plans to widely release peer-to-peer payments.
TikTok did not immediately respond to TechCrunch’s request for comment.
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