TikTok is exploring a new financial feature that could change the usage of its messaging. According to Bloomberg, code discovered in the current version of the iPhone app in the United States
TikTok is exploring a new financial feature that could change the usage of its messaging. According to Bloomberg, code discovered in the current version of the iPhone app in the United States reveals a system for peer-to-peer money transfers. The system would allow sending and receiving payments through direct messages. For now, the platform is not testing this feature. A spokesperson clarifies that the project is still in its early stages, with no public timeline announced for its potential public launch in the US.
The reviewed code shows several elements linked to this future feature. Users could send money directly from a private conversation. Recipients could accept the received amounts before their expiration date, directly from their private conversation, according to the observed code. A simple press of a button would be enough to confirm receipt.
TikTok plans push notifications or messages in the inbox. This option is reminiscent of TikTok and Venmo, which is a PayPal service. However, no testing phase is currently underway. Bloomberg reports that the feature remains in the initial development stage.
The company could still change the project before a possible official launch. Its appearance in the code, therefore, does not guarantee near availability to the public. The project might evolve before any decision regarding its rollout. No precise date currently accompanies this feature.
Start your crypto adventure safely with BybitThis link uses an affiliate program.This direction fits into a strategy initiated several years ago by ByteDance. The parent company has been exploring this sector since 2021, notably with Douyin Pay in China. This service allows linking a bank account to make purchases. It also allows payments during live streams and sending tips.
ByteDance then developed TikTok Pay for the company on certain Asian markets. The service offers comparable functions in Thailand, Vietnam, and Malaysia. The experience thus provides a precedent for the projects studied for international users.
The company expects growth in its revenue. According to Bloomberg, it could go from about $155 billion in 2024 to nearly $186 billion. ByteDance is recruiting in several markets for positions related to financial services, notably in the United States and abroad.
The project comes as other platforms bring social networks and financial services closer. X, Elon Musk’s company, is developing an app combining commerce and financial functions. Its project includes peer-to-peer payments, as well as services related to stocks and cryptocurrencies.
This evolution places the platform in a broader context. Messengers can become transaction spaces. In the short term, the company will have to continue development before it becomes available. No launch date has been announced.
In the short term, the company will have to continue development before it becomes available. The feature could expand the financial uses of its messaging if ByteDance confirms its deployment. It especially marks a new important step for integrated payments.
The next steps will now depend on ByteDance’s decisions and development progress. This possible evolution of payments will still need to pass several stages before reaching the public. This possible evolution of payments will still need to pass several stages before reaching the public.
