TikTok is exploring the possibility of adding money transfers between users simply through private messages. The feature isn’t even being tested yet, but traces of it have already been found in the code of the US version of the iPhone app.
TikTok is exploring the possibility of adding money transfers between users simply through private messages. The feature isn’t even being tested yet, but traces of it have already been found in the code of the US version of the iPhone app.
This is reported by Bloomberg.
The transfer will likely look like a regular chat message. When the recipient sees the transfer in the chat, they will be able to click «accept» by a certain date. In the meantime, the sender will receive notifications about the status of their payment. You can also add a message to the transfer.
TikTok can use TikTok Pay for transfers. This payment service is currently available in Vietnam, Malaysia and Thailand and is used, in particular, for purchases in the TikTok Shop. TikTok, in particular, has a separate Money Platform direction. In the vacancy for its head, the company describes a system with multi-currency wallets, currency conversion, clearing and settlements.
Also in March, TikTok applied for two fintech licenses in Brazil. One would allow users to store, receive, and pay with money, and the other would allow it to issue loans using its own funds or match borrowers with lenders.
Elon Musk’s X may follow a similar path. Previously, dev.ua wrote that the company is preparing X Money, a built-in service for storing funds and making transfers within the social network.
