TikTok is developing a feature that would enable users to send money to each other through direct messages, according to a recent report from Bloomberg. If rolled out, the feature would leverage the platform's TikTok Pay service, which is already available in Southeast Asia for TikTok Shop purchases.
The report indicates that references to the potential feature were found in code hidden within the current version of TikTok's U.S. iPhone app. The code suggests that recipients would be able to "tap to accept" payments, while senders could include messages with their transactions, similar to Venmo.
Development Status and Timeline
According to Bloomberg, TikTok has stated that the feature is not currently being tested, indicating that it remains in early development. As the feature is still under wraps, it is unclear whenβor ifβTikTok will widely release peer-to-peer payments. TikTok did not immediately respond to TechCrunch's request for comment.
Broader Financial Services Push
This is not TikTok's first foray into financial services. Reuters reported earlier this year that TikTok had applied to Brazil's central bank for approval to operate as a financial technology company, offering lending and payment services.
While TikTok is widely regarded as a social media giant, it has gradually expanded beyond that category with additions such as robust search, TikTok Shop, a local discovery map, games, hotel bookings, and more. By introducing peer-to-peer payments, TikTok would directly compete with established services like Venmo and Zelle.
Competitive Landscape in 2026
TikTok is not alone in venturing into financial services. X, formerly known as Twitter, recently launched X Money to allow users to exchange funds seamlessly. As the super app race intensifies, TikTok's move into payments could signal a broader trend of social platforms integrating financial functionality to enhance user engagement and monetization.
via TechCrunch