TikTok Code Reveals In-App Money Transfers as Platform Prepares Venmo Competitor
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22.08.2026 07:51
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2 min read
Short-video platform TikTok is developing a direct peer-to-peer (P2P) money transfer feature within direct messages (DMs). Bloomberg discovered hidden interfaces and code for the payment tool in the latest iOS app build in the US.
The discovered feature works similarly to popular services like Venmo: senders can attach a payment with a note directly in the chat, and recipients just need to tap “Accept.” Transactions will have an expiration date, after which unclaimed funds will return to the sender.
In-House Fintech and the PIPO Payment System
The transfers will run on TikTok Pay, an in-house payment infrastructure managed by ByteDance’s fintech division, PIPO.
The ecosystem already has licensing and operational experience:
- International licenses: Malaysia’s central bank officially registered PIPO as a non-bank e-money issuer;
- Regional presence: the TikTok Pay digital wallet and built-in TikTok PayLater installment service already serve TikTok Shop customers in Southeast Asia (Malaysia, Vietnam, and Thailand);
- Chinese experience: parent company ByteDance has been operating its own Douyin Pay service for the Chinese market since 2021.
According to Bloomberg, ByteDance is actively expanding its US financial team, hiring former JPMorgan executives to build a global payment gateway.
Capturing $3 Billion in User Spending
Integrating P2P payments solves a key business challenge: keeping financial transactions within the platform. Currently, creators and streamers must link to third-party services like Venmo, Cash App, or PayPal in their bios to receive donations.
According to Sensor Tower data, users have spent over $2.9 billion inside TikTok since the beginning of the year, with the app maintaining its global lead in in-app purchase revenue.
TikTok representatives confirmed the feature is in development but emphasized that public testing has not yet launched in any region. Release timelines, potential transaction fees, and user verification requirements remain undisclosed.
