TikTok is developing a feature to allow peer-to-peer money transfers through direct messages. Bloomberg first reported the development after discovering code for the functionality within the app.
A TikTok spokesperson stated the feature is not currently undergoing testing in any market. The service would extend TikTok Pay, which currently facilitates Shop purchases in Thailand, Malaysia, and Vietnam.
Parent company ByteDance aims to leverage TikTok's user base to build a comprehensive financial ecosystem. The move mirrors the growth of Asian super-apps by integrating social interaction with financial transactions.