Overview
- Bloomberg reported Tuesday that researchers found hidden code in TikTok’s U.S. iPhone app that appears to implement a peer‑to‑peer payments flow inside direct messages.
- The code shows recipients would ‘tap to accept’ transfers, senders could attach short messages, and users would get status notifications, and the feature appears tied to TikTok Pay.
- TikTok told reporters the feature is not being tested in any market, signaling the work is early and may never become a public product.
- Investors reacted quickly with shares of some incumbents such as PayPal and Western Union falling after the report, reflecting concern about new competition for money transfers.
- TikTok Pay is already live in Vietnam, Malaysia and Thailand, ByteDance runs Douyin Pay in China, and any U.S. rollout would face money‑transmission rules and extra scrutiny because of the company’s ownership ties and prior regulatory filings.