Benzinga - by Benzinga Neuro, Benzinga Staff Writer.
Tinder (NASDAQ:MTCH) is rolling out a more stringent verification process requiring users to submit a video selfie and a photo ID to obtain a special verification badge. The step is meant to combat catfishing.
What Happened: Tinder announced that the new verification process will be implemented in the U.S., U.K., Brazil, and Mexico this spring. The process will involve users submitting a video selfie that matches their profile picture and the photo on their ID, as reported by Business Insider on Wednesday.
Users who complete the photo verification will be awarded a blue camera icon badge, while those who complete the ID verification will receive a blue ID icon badge. Initially launched in Australia and New Zealand, the verification feature has been expanded to other countries.
“Given each market is different and is nuanced, we are expanding country-by-country and will continue to learn and enhance the feature as we roll it out to more users,” said Kayla Whaling, a spokesperson for Match Group, Tinder’s parent company.
In addition to the photo and ID verification tools, Tinder has also invested in detection tools that immediately remove spam accounts during or before the sign-up process.
Why It Matters: The online dating industry has undergone significant changes recently. In 2023, the industry saw a surge in revenue, with users globally spending over $5 billion on dating apps. This led companies like Match Group, Tinder’s parent company, to introduce costlier subscription tiers and special features to boost their revenues in a saturated market.
However, with the increased revenue, the industry has also seen a rise in scams and fake accounts. A report by a cyber security management company, Tenable, revealed that AI is making it easier to pass off fake accounts on dating apps, even those that are verified.
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