Cash in the DMs: TikTok Prepares In-App Peer Money Transfers to Take On Venmo

TikTok wants to let users send cash directly inside private chat threads. According to a fresh report from Bloomberg, the video platform is building a peer-to-peer payment feature to turn standard direct messages into a working digital wallet. If launched, the tool will run on the existing TikTok Pay system, which already handles e-commerce checkout transactions across Southeast Asia for TikTok Shop.

App developers spotted early references to the payment feature hidden deep within the code of TikTok’s current iPhone application in the United States. The hidden code reveals a workflow where money senders can attach custom notes to their payments, much like standard Venmo transactions. On the receiving end, users simply tap a notification banner to accept incoming funds directly into their account.

When asked about the findings, TikTok told Bloomberg that the payment feature is not active in live public testing yet. That response indicates the tool remains in early internal development. Because the project is still undergoing active code builds, nobody knows when or if TikTok will roll out direct cash transfers to its broader global user base.

This project is not TikTok’s first attempt to move into financial technology services. Reuters reported earlier this year that TikTok filed formal applications with Brazil’s central bank seeking regulatory approval to operate as a licensed financial institution. That license would allow the platform to offer formal lending options alongside standard merchant processing services.

While most people view TikTok strictly as a short-form video hub, the platform keeps adding tools that go far beyond standard social media scrolling. The company continuously adds real-world utility features, including localized discovery maps, interactive mini-games, hotel reservation tools, and full e-commerce storefronts through TikTok Shop. Adding peer-to-peer money transfers puts TikTok into direct competition with dedicated fintech apps like Venmo, Cash App, and Zelle.

TikTok is following a growing trend across major social media networks. Platforms want to keep users inside their ecosystem for every daily task, especially financial transactions. For instance, X recently launched its own X Money feature to let users wire cash back and forth inside chat threads.

Bringing payment processing directly into direct messages makes business sense for creator ecosystems. Viewers can instantly tip creators, buy digital goods, split dining bills with friends, or pay for items bought on live streams without opening a separate banking app. By cutting out extra steps, TikTok keeps users engaged longer while collecting transaction processing fees along the way.

As social platforms expand into financial tools, keeping user data safe remains critical. Handling cash transfers requires strong fraud prevention and compliance with strict banking laws in every market. If TikTok successfully navigates those legal hurdles, sending money to friends will soon be as easy as sharing a viral video clip.