Online-dating company Match is working to sidestep Apple’s and Google’s payments systems following moves by authorities in the U.S. and South Korea to loosen the tech giants’ grip on app-store transactions
Seoul-based social-media company Hyperconnect in a $1.7 billion deal. Hyperconnect’s business is affected by the new law, Match said.“It’s kind of a domino effect around the world from my standpoint,” said Mr. Swidler, who in addition to CFO is Match’s chief operating officer. “We think other jurisdictions are going to follow. And so having a global business with multiple brands, we’ll have to kind of keep rolling this out.
Match this year expects to pay transaction fees of around $500 million to Apple and Google, he said. The company doesn’t disclose the exact amount it pays in such fees, which it books as a cost of revenue, and declined to provide estimates for the previous year. The online-dating company is working on an alternative-payment option that it expects to offer to Hyperconnect users in the coming months, Mr. Swidler said. Such an option could also be offered to Apple users as a result of the California ruling, he said. Match plans to offer a discount to users who pay the company directly, but pricing details are still being figured out, he said.
The amount of potential savings will depend on how many customers decide to switch their payment methods, Mr. Swidler said. The company had about 15 million paying customers during the quarter ended June 30, up 15% from a year earlier. An Apple spokesperson said the company is reviewing the California court ruling. Regarding the new law in South Korea, Apple said it believes the measure could undermine users’ privacy protections, among other effects. “We believe user trust in App Store purchases will decrease as a result of this legislation,” the company said.
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