TikTok explores in-app money transfers through direct messages

TikTok is exploring a feature that would let users send money to each other inside direct messages, according to reports based on code found in the app’s U.S. iPhone version. The planned system would reportedly use TikTok Pay, the company’s existing payments product, which is already used in parts of Southeast Asia for shopping transactions. If launched, the feature would move TikTok further into financial services and make it easier for users to handle payments without leaving the app, putting it in closer competition with services like Venmo and Cash App. TikTok has said the feature is not currently being tested in any market, so it remains in early development.