tinder: Tinder to roll out new in-app currency

Tinder is set to introduce a virtual in-app currency that is designed to help users spend more time on the app and eventually pay real money. Bloomberg reported that the ‘coins’ will be a way for Tinder to fabricate non-subscribers by allowing them to make ad-hoc or one-time purchases.
The currency will roll out starting in Australia (chosen because it represents the app’s global member base), later this month.
Another dating app that is available in India has already started using in-app currency since its initiation is Bumble. Bumble has a feature called ‘Superswipes’ (just like superlike in Tinder) where each superswipe can cost you a minimum of Rs 43.30 depending on the plan you choose.
Tinder users who remain active and up-to-date on the site will be able to acquire these ‘coins’ for free. However, you’ll also be able to spend real money for them, much as you can with other 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 runs on a freemium model that allows you to use the app without paying. However, users can gain extra features via a subscription like more granular filters, Boosts and the ability to see people who’ve shown interest in your profile.
Tinder’s parent concern Match.com has said that Tinder users have a higher probability to pay than ever and was encouraged by small market tests that were conducted previously. Tinder CFO Gary Swindler 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.”