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How TikTok operates digital and financial inclusion

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Home Tech News Africa Tech News

How TikTok operates digital and financial inclusion

Modupeoluwa Olalere by Modupeoluwa Olalere
October 24, 2023
in Africa Tech News, Business, Business Strategy, Editors Pick, Entrepreneurship, Innovation, Startups, Tech News, Technology
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How TikTok operates digital and financial inclusion
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TikTok is a micro-video sharing app with many user-generated content and fantastic features.

TikTok has user-made and people-made videos. A 60-second video can be made from 15-second clips. This Chinese company bought TikTok, a popular karaoke app, in 2018. TikTok is a remarkable app with 800 million users.

TikTok users watch videos by geography and interest, encouraging entertainment sharing. TikTok lets users watch user-created videos and gives daily trend updates. Post and share your videos. Social media engagement is vital and earned by TikTok users and others. The most recent phone conversations determine TikTok users’ video viewing. Localized content on TikTok lets people track local trends.

The primary interaction on TikTok promotes innovation, engagement, and user profile. TikTok’s most significant feature is that users can earn real money with these coins, encouraging them to buy gifts for their favourite producers as a thank you. Users of TikTok can receive gifts by buying coins. The discount on TikTok coins in bundles increases with the amount purchased. 

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Coins that TikTok users purchase are added to their TikTok accounts. Nothing converts coins to cash. TikTok coins can only be exchanged for virtual gifts. Winners are their favorite video makers.

Read also: Mastercard, others to promote financial inclusion in Uganda

TikTok gifting 

TikTok allows consumers to gift their favourite content creators in various amounts. The app allows users to save money in their TikTok wallets and check their balances. TikTok users can buy coins on Google Play or Apple Store by following the instructions. 

TikTok users love making “TikTok gifts.” during live shows. Gifts are bought, and everyone can choose their budget. TikTok gifts become diamonds. A person can receive actual money with 10,000 gems at a certain level.

For example, people who use TikTok can link their Instagram, YouTube, and Facebook accounts, which helps them get more possible fans. Many websites, including Jumia, will pay you when people use your author link to buy something.

People can use their TikTok gift coins to get cash when they have enough to meet the $100 minimum transfer requirement. Linking a PayPal account to an MPesa phone number is also required for people who want to buy things. It’s only possible to buy or sell TikTok coins straight from a user’s PayPal account, which means they can’t be linked to any other account.

Arkel Consult and Management Services (ACMS) set to promote financial inclusion in Ghana

TikTok users can use Mpesa to buy gift packages by following specific steps

They are launching the Google app.

Select a Google account. 

Underpayment and subscription, click open.

Choose manageable payment methods.

Select Remove PayPal and Mpesa Xpress payment choices.

Select “Add Payments.”

Check out TikTok’s live videos. 

Select “recharge”.

Gift boxes and other items are available.

Add PayPal or MEPSA Xpress billing.

Mpesa users can buy gift packs.

Tags: Tik Tok
Modupeoluwa Olalere

Modupeoluwa Olalere

Modupe is a tech content writer with 3+ years of experience turning complex ideas into clear, engaging stories. She covers innovation, digital trends, and emerging technologies. When she’s not writing, she’s exploring new tools or tracking trends shaping Africa’s tech ecosystem.

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