Tinder has started to roll out its in-app virtual currency which gives users a new way to pay for premium features.
Known as ‘coins’, the currency is only available to Australian singles and is due to launch worldwide later this month. Australia was chosen because of how accurately it reflects the dating app’s global community.
Users are able to purchase coins using real money, but can also earn them for free by being active or regularly updating their profiles. They can then use the coins to buy some of Tinder’s premium perks, such as Super Likes or Boosts.
Match Group CFO Gary Swidler told Bloomberg: “[The currency] will play an important role as the Tinder experience evolves and becomes more immersive, because virtual currency is useful in the context of gifting digital goods.
“[It will be] particularly well received by our members in Asia, who are less used to subscription products.”
The online dating holding company completed its $1.725 billion acquisition of livestreaming giant Hyperconnect in June. The takeover significantly increases Match Group’s footprint in the APAC region and it is now starting to test alternative payment methods for consumers in South Korea.
Virtual currency on Tinder was first announced as part of Match Group’s Q2 financial results. At the time it was being tested in undisclosed “small markets” and was reportedly “performing well”.
Tinder’s new Explore feature was introduced to English-speaking markets last month. The virtual hub gives users a more interactive dating experience and helps them navigate the variety of social features.
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