TikTok is reportedly considering a new payment feature that could allow users to send money to one another through direct messages.
The proposed service would be linked to TikTok Pay, the company’s existing payment platform used in parts of Southeast Asia, particularly for transactions involving TikTok Shop.

Details of the possible feature were reportedly discovered in the code of the current United States version of TikTok’s iPhone application.
The code suggests that users receiving money could accept a payment by tapping an option, while those sending funds may also be able to attach a personal message.

The proposed experience would be similar to the way peer to peer payment services such as Venmo operate.

TikTok has indicated that the feature is not currently being tested, suggesting that the company may still be working on the concept internally.
There is therefore no confirmed launch date, and it remains uncertain whether the payment service will eventually become available to TikTok users in the United States or other markets.

The possible move would further expand TikTok’s ambitions beyond social networking and entertainment.

The company has increasingly introduced services including shopping, search, travel related features, games and local discovery tools.

TikTok has also explored financial services in other markets, including seeking regulatory approval in Brazil for payment and lending activities.
A peer to peer payment service could place TikTok in greater competition with established platforms such as Venmo and Zelle.

Source: Techcrunch