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TikTok eyes money transfers straight from DMs

News Snapshot:

TikTok may soon turn private chats into a new way to send money, as code found in the platform’s U.S. iOS app points to a possible peer-to-peer payment feature that could allow users to transfer funds without leaving a conversation. The possible feature, reported by Bloomberg, appears to be connected to TikTok Pay, the company’s existing payment system. The development signals another step in TikTok’s growing interest in financial services and could put the social media giant in closer competition with established payment companies. Users could receive updates about the progress of their payments. People receiving money may also need…

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