TikTok is developing a direct messaging transfer feature, with related code appearing in the U.S. version of the iPhone app, indicating that the feature is still in its early stages. Recipients can click to accept payments, and senders can attach messages, similar to the usage of Venmo, aiming to combine social interaction with payments. The feature is expected to use TikTok Pay, which is currently utilized for shopping payments in TikTok Shop in Southeast Asia. TikTok stated that the feature has not yet entered the testing phase, and the timeline for public launch is unclear. Previously, TikTok applied to the Central Bank of Brazil for approval to provide loan and payment services as a fintech company, demonstrating its ongoing interest in the financial services sector.
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