TikTok is reportedly considering using TikTok Pay to bring peer-to-peer payments directly into private messages.
TikTok could further expand its ambitions in financial services by introducing the ability to send money directly through private messages. according to a report BloombergThe social network is reportedly working on a feature that would allow users Make peer-to-peer payments in conversations through the TikTok Pay systemalready used in Southeast Asia for purchases made through TikTok Shop.
Clues to possible novelties will be found in Code for the current US iPhone version of the TikTok app. The string shown indicates that whoever receives the payment can accept the payment through a specific action, and whoever sends the funds may also include a message in the transaction.
We still don’t have confirmation of the beta phase of the TikTok feature
However, there is currently no indication that the feature is being tested in practice. TikTok told Bloomberg that the feature Not tested yetthis element shows that it is still in the preliminary development stage. Therefore, it is impossible to determine if and when payments between users are actually distributed to the public.
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TikTok’s interest in financial services This is nothing new anyway. Earlier this year, Reuters reported that the company had submitted an application to Brazil’s central bank and operates as a fintech company, offering payments and lending services.
Is TikTok becoming a more complete platform?
The possible introduction of remittances also represents the Douyin transformation From a simple social platform to a more complete service after expanding into search, e-commerce, maps to discover local businesses, video games and hotel bookings.
If rolled out, the feature would see TikTok also compete with platforms specializing in remittances, Including Venmo and Zelle. What do you think? Please tell us your opinion in the comment section.
