Home›Crypto›Market Structure›TikTok code points to in-app peer-to-peer payments via…

TikTok code points to in-app peer-to-peer payments via DMs

The peer-to-peer feature appears to let recipients tap to accept transfers before they expire, with senders receiving transaction status updates in push notifications or their inbox.

Reported · Written up by our desk · Market Structure

TikTok is developing an in-app peer-to-peer payments feature for U.S. users that would allow money transfers through direct messages, according to code found in the iPhone version of the app and described by CoinDesk, citing Bloomberg.

The payment tool is still in early development and not currently being tested anywhere, a spokesperson said, and the code suggests recipients could “tap to accept” transfers before they expire.

The code also indicates senders would get updates on transaction status via push notifications or in their inbox, and it includes references to adding a message with the payment, similar to how Venmo supports payment captions, CoinDesk reported.

CoinDesk also noted that TikTok’s parent company ByteDance has been expanding into financial services, building on Douyin Pay and TikTok Pay in parts of Asia, and that ByteDance has been hiring for fintech-focused roles in the U.S. and abroad.

More like this

Sources