Bloomberg reported that TikTok is developing a peer-to-peer payments feature that would let users send money to each other through direct messages. The evidence comes from code found in the U.S. version of the TikTok app.
The code indicates the user flow is already fairly developed. A recipient can tap to accept a payment, the sender can attach a text note, and changes in transaction status are sent back to the sender through push notifications in real time. The experience described in the report is similar to Venmo, the payments app owned by PayPal.
TikTok says the feature has not entered testing
TikTok said the feature “has not entered testing in any market at this stage.” The report also said there is no sign that TikTok will definitely release the product.
Still, the existence of the code, together with TikTok’s hiring for financial services roles across the U.S. and other markets, suggests the company is exploring that direction.
TikTok already has payments experience in Southeast Asia
Bloomberg noted that TikTok has already built payments experience in Southeast Asia. Its payments product, TikTok Pay, operates in Vietnam, Malaysia, and Thailand, mainly for purchases made through TikTok Shop.
In the first half of 2025, TikTok Shop GMV in Thailand reached $5.419 billion, up 162% from a year earlier. TikTok has more than 1 billion monthly active users worldwide, including about 170 million in the United States.
PayPal and others fell after the report
After the news emerged, shares of PayPal and other companies fell sharply on the day. The report said analysis pointed to a direct challenge to Venmo’s position in the U.S. person-to-person payments market if the feature is eventually launched. Venmo has about 67 million monthly active users.
Regulatory factors, however, remain the main challenge for TikTok as it tries to expand payment services in the U.S.