Tinder to roll out in-app coins starting October to increase app earnings

The feature, which will be available to its Australian users later this month, can be spent on many different in-app functions such as Boosts, which allow users to promote their profiles, or Super Likes, which allow users to send a notification to a potential match

Match Group-owned dating app Tinder will be launching its own virtual currency in order to encourage service users to spend more time interacting with the app and subsequently turn into purchasers through the use of regular money.  

According to reports, the latest addition to the app will be first rolled out in Australia. Users can collect these in-app coins by actively spending time on the app and interacting with it, as well as keeping their profiles up to date. Users will also be given the option to purchase the in-app virtual currency with real money.

The feature, which will be available to its Australian users later this month, can be spent on many different in-app functions such as Boosts, which allow users to promote their profiles, or Super Likes, which allow users to send a notification to a potential match. All these functions are said to increase the probability of finding a desired match on the dating app. 

According to reports by Bloomberg, Match Group also plans to make the virtual currency available to its global user base by next year. 

Tinder expects the virtual currency to “enable more opportunities to earn money from the app.” Gary Swidler, Match Group Inc. Chief Financial Officer, said during the company’s second-quarter earnings call that Tinder users’ “propensity to pay has improved significantly.”

Tinder already has a tier subscription system, with tiers such as Tinder Plus, Tinder Gold, and Tinder Platinum which can be availed with the use of regular money. The virtual currency will be “particularly well received by our members in Asia, who are less used to subscription products,” Swidler said.

Meanwhile, Match Group Inc. Chief Executive Officer Shar Dubey stated during the company’s second-quarter earnings call in August that the company had tested the virtual currency feature in limited markets and were “encouraged” by the results. 

Australia has been chosen by Tinder as the first location to roll out the new feature as its market is representative of the service’s global member base, a spokesperson said to Bloomberg.

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