TikTok is moving beyond social media in Brazil. The company has officially requested authorization from the Central Bank to operate as a payment institution. This move aims to expand its ecosystem by offering direct financial services to its users.
New Financial Features
According to reports from Tecnoblog, TikTok's goal is to provide several basic banking functionalities, including:
- Personal and business loans
- Managed bank accounts
- Value transfers and payments
- Direct receipt of funds
By integrating these tools, TikTok intends to facilitate transactions within the app, streamlining the process for creators and businesses to manage their earnings without leaving the platform. The request is currently under review by the Central Bank of Brazil.
