Contributed by: kellyseal on Wednesday, October 27 2021 @ 08:58 am
Last modified on Wednesday, October 27 2021 @ 09:17 am
Tinder is breaking new ground in the dating app industry by offering its own in-app currency for users to spend as they swipe.
According to Bloomberg[*1] , Tinder will be testing in-app “coins” that users obtain by keeping their profiles updated and being active on the app, or alternatively, they can purchase them with real money. The coins can be spent on paid features Tinder offers like Super Likes (letting someone know you’re very interested) and Boosts (which promote your profile to other users).
Tinder is expanding its offerings beyond the swipe to create more stickiness with young daters, and the new currency is a way to monetize these features as people spend more time on its app. The company announced the launch of the Explore section in September, which features short form original content like its hit series Swipe Night and virtual speed dating with “Hot Takes.”
Tinder hasn’t clarified whether the new Explore features will be paid features down the line, or if they might be part of its tiered paid subscriptions (Tinder Plus, Tinder Gold or Tinder Platinum).
It is notable that parent company Match Group’s Chief Financial Officer Gary Swidler said during the company’s second-quarter earnings call that Tinder users’ “propensity to pay has improved significantly.” Match Group aims to create an environment in the Tinder app where people are interacting, virtual dating, or watching and liking content and profiles, where they can spend their coins as they do. It is not clear whether in-app currency will also be introduced in its other apps, like OkCupid or Hinge.
Bloomberg said Tinder hopes the addition of coins would “create a richer experience for people online, moving beyond just its traditional ‘swipe right’ method for finding a romantic partner,” but as Gizmodo points out, it’s also a new type of gamification of the dating app. As users are in the Explore feature tooling around, it will be much easier to spend money with in-app coins.
Swindler also hinted at the company’s move towards a more immersive experience on the app, saying that the coins “will play an important role as the Tinder experience evolves…because virtual currency is useful in the context of gifting digital goods.”
Tinder also recently announced a partnership with Lyft, so users can gift ride credits to their matches to meet up for a date.
The new currency will be rolled out first in Australia in November, and later will launch globally. Tinder has its eye on Asia in particular, where the population is used to in-app currencies rather than subscription models. For more on this dating app you can read our Tinder review.