TikTok Eyes Money Transfers Through Direct Messages as Payments Push Expands
Synopsis
The social platform is exploring a Venmo-style feature that would allow users to send money, attach a message and accept payments with a tap, according to Bloomberg.
TikTok is reportedly planning to roll out its money transfer system to its users who are looking forward to sending funds directly in messages as it is about to enable a new payment service within it.
According to the report by Bloomberg, the feature was found in the latest codebase on the iPhone version. The feature was uncovered on August 18, 2026, in the United States version of TikTok. It will provide a way for the recipient to tap a button to accept the payment and for the sender to enter a message with the transaction.
TikTok denied conducting trial tests of the feature. The company has not stated when it would launch the service, what fees would apply, or what payment limits or regions would be involved.
TikTok Pay Provides the Payment Link
TikTok’s money transfer scheme would be fueled by TikTok Pay, which is utilized for executing TikTok Shop purchases in Southeast Asia.
The payment service has already been launched in markets where local real-time transactions are available. Domestic digital payment systems are present in Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam while India has UPI and Pix systems.
It would represent another P2P (person-to-person) use-case for an existing TikTok payment system, not a new product per se. The report did not find evidence of this functionality being available in Australia.
Note that it is crucial to distinguish between Australian businesses, as TikTok Shop is not available as one of the TikTok Shop markets at present. As per the TikTok Seller Platform, availability depends on the seller’s market.
Payments Market Continues to Grow
TikTok’s P2P payment proposition comes at a time when rapid-payment systems have seen a boom. As per the World Bank, the new report covers fast-payment systems in over 120 jurisdictions and estimates that the global market for fast payments will grow 35.5 percent CAGR (compound annual growth rate) from 2025 through 2030.
There is a wide range of services developed by consumers in the US, including Venmo and Zelle, as well as a number of bank-powered payment networks. In addition, the FedNow Service from the Federal Reserve and The Clearing House’s RTP offering have joined the fray to provide consumers with instant payment options.
ByteDance, the parent company of TikTok, is forecast to generate a revenue of around $155 billion in 2024, and it is expected to do the same at around $186 billion in 2025.
The feature of the TikTok money transfer app is under development and no official public announcement has been made regarding the development of the said feature.
Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
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