Tinder is introducing virtual currency that can be spent on promoting profile and super likes, Bloomberg reports. The feature will first launch to app users in Australia next month, with worldwide launch at a later date. The name of the local currency is still unknown.
“Tinder, owned by Match Group Inc., expects virtual currency to open up more in-app earning opportunities,” CFO Gary Svidler said during a discussion on the company’s Q2 financials, noting that “Tinder users’ propensity to pay has grown significantly “.
The company expects coins to “play an important role” and users spend more time in the app, he said. In addition, “virtual currency is useful in the context of donating digital goods,” Svidler added in a statement to the agency.
The Tinder dating service was launched in 2012 and is currently available in over 190 countries. Tinder earns revenue from advertising in the free version and from using the two paid versions of the app, Tinder Plus and Tinder Gold.
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