TikTok is testing a private message payment feature

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TikTok is testing a private message payment feature, according to on-chain news sources. Code for the feature has appeared in the U.S. iPhone app, indicating early development. Users could send payments through direct messages, with recipients clicking to accept. The feature may utilize TikTok Pay, which is already active in Southeast Asia. Crypto news outlets note this is not TikTok’s first step into financial services; earlier this year, the company applied to Brazil’s central bank for loan and payment services. A public release date remains unclear.
CoinMarketCap reports:

TikTok is developing a feature that allows users to send money to each other via direct messages. Bloomberg reports that related code has appeared in the U.S. version of TikTok’s iPhone app, indicating the feature is still in its early stages.

Feature Details

If launched, the recipient can click to accept the payment, and the sender can include a message. The report compared this to how Venmo works, suggesting that TikTok may aim to combine social interaction with payment actions within the same context.

Expansion of payment services

This feature is expected to use TikTok Pay. The service is currently used for TikTok Shop purchases in Southeast Asia. TikTok told Bloomberg that this feature has not yet entered testing, meaning the public launch date remains unclear.

Earlier financial attempts

This is not the first time TikTok has attempted to enter the financial services sector. Earlier this year, Reuters reported that TikTok applied to Brazil’s central bank for approval to offer loans and payment services as a fintech company.

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