In an appearance on the Decoder podcast, Hinge co-founder and CEO Justin McLeod discussed plans to launch an in-house payment service by the end of the year, allowing Hinge to avoid Apple's transaction fees. This strategic move could lead to potential cost savings for consumers and increased investment in product development. The decision was influenced by the significant legal ruling in Epic Games v. Apple, which enables developers to explore alternative payment methods outside the Apple ecosystem. McLeod mentioned that this payment service will likely be Hinge-specific, not affecting its parent company, Match Group.
Hinge plans to introduce an alternative payment service by year-end, allowing them to bypass Apple fees, improving finances and product investment opportunities.
McLeod emphasizes that a Hinge-run payment platform would enable lower prices, better investing in product experiences amid significant changes in the market.
The recent Epic Games v. Apple ruling is crucial, allowing Hinge and others to avoid Apple's purchase fees, shifting the financial dynamics for developers.
McLeod notes that the new payment service would likely be tailored for Hinge, rather than a collective Match Group solution that includes its other apps.
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