International Desk || TikTok is preparing to introduce a new money-transfer feature that could allow users to send and receive funds directly through direct messages (DMs), according to reports.TechCrunch, citing Bloomberg, reported that the feature may use TikTok’s own payment system. Its presence was reportedly identified through an analysis of the latest version of the TikTok app for iPhone.Under the proposed feature, a recipient would be able to accept money by tapping a designated button. Users may also be able to attach a short message to a payment.TikTok, however, said the feature has not yet been officially launched. The company has not announced when it could become available to general users.TikTok’s payment system is already being used for purchases on TikTok Shop in several Southeast Asian countries. If the new feature is introduced, users could eventually use the same platform not only for shopping but also for transferring money among themselves.TikTok’s interest in financial services is not new. A Reuters report in March said the company had sought permission to operate as a financial technology firm in Brazil, with plans involving lending and money-transfer services.The company is also expanding beyond its traditional social media services, including improved search, online shopping, maps for finding local places, gaming and hotel bookings. Money transfers could become its latest addition.Analysts believe the feature could put TikTok in competition with digital payment platforms such as Venmo and Zelle. Social media platform X is also expanding into financial services and recently launched its X Money service in the United States.The TikTok payment feature remains under development and testing. It is therefore still unclear whether it will be launched globally or which countries could get access first.