FX.co ★ TikTok plans to launch money transfers between users

Short-video platform TikTok is exploring the possibility of introducing direct person-to-person (P2P) money transfers between users via direct messages. Bloomberg reports, citing code found in the current version of the iOS app, that the company plans to use the TikTok Pay payment service to process transactions. This service is already operating in Southeast Asian markets.

According to hidden parameters in the app, the transfer process would require confirmation from the recipient: the recipient would need to press a special button to accept the funds before a specified expiration time. The sender would be able to track the transaction status via system notifications or a dialogue window, and could also attach text messages to the transfer.

TikTok’s press office confirmed that the feature is currently in the early design stage and is not undergoing public testing in any region. The company also emphasized that there is no guarantee the payment tool will be fully released.