TikTok is exploring a new financial function that could change the uses of its messaging. According to Bloomberg, code discovered in the current version of the iPhone application in the United States reveals a system of money transfers between individuals. The device would allow payments to be sent and received from direct messages. For the moment, the platform is not testing this function. A spokesperson specifies that the project remains in its early stages, with no public timetable announced for its possible American public deployment.
In brief
- TikTok is exploring a feature to send and receive money via direct messages.
- The project remains in the early stages and is not currently undergoing any user testing.
- ByteDance is already developing financial services, including Douyin Pay in China and TikTok Pay in several Asian countries.
- The project is part of a broader trend, with platforms like X also developing integrated payment services.
TikTok explores payments in direct messages
The code studied shows several elements linked to this future function. Users could send money directly from a private conversation. Recipients could accept amounts received before their expiration date, directly from their private conversation, depending on the code observed. A simple press of a button would be enough to validate reception.
TikTok provides push notifications or inbox messages. This option is reminiscent of TikTok and Venmo, which is a PayPal service. However, no testing phase is currently underway. Bloomberg reports that the feature remains in the initial development stage.
The company could still modify the project before its possible official launch in the future. Its appearance in the code therefore does not guarantee imminent availability to the public. The project could evolve before any decision regarding its deployment. No specific date currently accompanies this feature.
ByteDance accelerates in financial services
This orientation is part of a strategy undertaken for several years by ByteDance. The parent company has been exploring this sector since 2021, notably with Douyin Pay in China. This service allows you to link a bank account to pay for purchases. It also allows you to pay during live streams and send tips.
ByteDance later developed TikTok Pay for the company in select Asian markets. The service offers comparable functions in Thailand, Vietnam and Malaysia. The experience thus provides a precedent for the projects studied for international users.
The company expects its turnover to increase. According to Bloomberg, this could increase from around 155 billion dollars in 2024 to nearly 186 billion. ByteDance is recruiting in multiple markets for financial services-related roles, including in the United States and abroad.
A trend that goes beyond TikTok
The project comes as other platforms bring together social networks and financial services. X, Elon Musk’s company, develops an application bringing together commerce and financial functions. Its project includes peer-to-peer payments, as well as services related to stocks and cryptocurrencies.
This development places the platform in a broader transformation. Messaging can become transaction spaces. The project, however, remains limited to the information visible in the code. No launch date has been announced.
In the short term, the company will have to continue development before making it available. The function could expand the financial uses of its messaging if ByteDance confirms its deployment. Above all, it marks a new important step for integrated payments.
What happens next will now depend on ByteDance’s decisions and the progress of development. TikTok could thus test this function before considering opening it up more widely to users. This possible evolution of payments will still have to go through several stages before reaching the public.
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