TikTok has recently filed for a new TikTok E-Payment Service trademark. There are 36 types of Financial Property Management protected by the international classification, which is currently pending final clearance. TikTok received an e-payment service license in September 2020, according to sources, when it purchased UIPay to improve its e-payment capability in China.
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At the time, the company claimed that the deal would boost its customers’ experience through other payment methods while still supporting users of other ByteDance goods and services. The successful video-sharing application was also able to acquire three financial licenses for third party compensation and protection through purchases and other average insurance back in June 2020. These were possibly meant to design and introduce its payment program, which is likely to be used first in China, it’s home country.