Short video streaming platform TikTok may soon be about more than scrolling as social media giant is exploring new feature that could let users send money directly through chats, turning a simple conversation into a potential payment channel.
According to media reports, the social media giant is developing a peer-to-peer payment feature that could allow users to transfer funds within private chats. The potential move could mark another major step in TikTok’s expanding push into the financial and digital payments sector.
The reported feature is expected to operate through TikTok Pay, the company’s existing payment service currently available in parts of Southeast Asia, primarily for purchases made through TikTok Shop.
The potential development came to light after hidden code was reportedly discovered in the current U.S. version of TikTok’s iPhone app. The code reportedly contains references suggesting that a user receiving money could accept the payment by simply tapping an “Accept” button. The sender may also have the option to include a message alongside the payment.
If launched, the system would bear similarities to peer-to-peer payment platforms such as Venmo and Zelle, allowing money transfers to happen within a social-media conversation rather than through a separate banking or payment app.
Despite clues found in the app’s code, TikTok has reportedly pushed back on speculation surrounding the feature. The company told Bloomberg that it is not currently testing the payment-transfer feature.
That means there is currently no confirmed launch date, and it remains uncertain whether TikTok will ultimately release the functionality to the public, or make it available globally. The reported payment feature comes as TikTok continues to explore opportunities beyond social media and e-commerce.
Earlier this year, the company sought permission in Brazil to operate as a fintech company, including providing lending and payment services. That development suggests TikTok could be looking to build a much broader financial ecosystem around its enormous user base.
If TikTok eventually rolls out peer-to-peer payments, the app could evolve into something considerably bigger than a platform for short-form videos and online shopping. Users could potentially chat, share content, shop and transfer money — all within the same ecosystem.
Such move would put TikTok in more direct competition with established digital payment services such as Venmo and Zelle, while also following a broader trend among social-media companies toward integrating financial services into their platforms.
News Desk
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