TikTok exploring peer-to-peer payments via direct messages

According to the report, the feature would allow recipients to "tap to accept" payments and senders to include accompanying messages, mirroring the user experience of platforms like Venmo. TikTok has indicated that the feature is in the early stages of development and is not currently being tested.

This move into financial services is not TikTok's first; the company has previously sought approval from Brazil's central bank to operate as a fintech company. Beyond its core social media identity, TikTok has been expanding its offerings to include e-commerce, search, games, and hotel bookings, positioning itself to compete with established payment services such as Venmo and Zelle. Other social networks, like X (formerly Twitter), have also ventured into financial services with offerings like X Money.