During the company’s second-quarter earnings call in August, Match Group CFO Gary Swidler said that Tinder users’ “propensity to pay has improved significantly.”
The coins can be used to avail Tinder’s features such as Super Likes and Boosts, which help improve the chances of finding a good match
Tinder will introduce a virtual in-app currency designed to help users spend more time on the site and eventually pay real money, according to a Bloomberg report. The “coins” will be a way for Tinder to monetize non-subscribers by allowing them to make ad-hoc or one-time purchases.
Match Group CEO Shar Dubey had at the same call said that the company had tested the currency feature in small markets in the second quarter, and was “encouraged” by the results.
Tinder runs on a freemium model that lets you use the app without paying. However, users can gain extra features via a subscription (from $10 to $30 per month), like more granular filters, Boosts and the ability to see people who’ve shown interest in your profile.
Users who stay active and up-to-date on the site will be able to acquire coins for free. However, you’ll also be able to pay real money for them, much as you can with in-app game purchases. The coins can be used to purchase Tinder perks like Super Likes or Boosts that help you find the best possible match.
Tinder parent Match.com has said that Tinder users have a higher propensity to pay than ever, and was encouraged by small market tests conducted last spring. “[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,” Tinder CFO Gary Swindler told Bloomberg.