Download The App

Let's get started! Download the Fu app to your phone and start managing your money better today.

Download on the App Store Get it on Google Play

TARGET MARKET DETERMINATION

FUPAY SMALL PERSONAL LOANS

This target market determination (“TMD”) is designed to provide customers, merchants and Fupay Holdings Limited ABN 34 628 317 377 (“Fupay”) employees and agents with information to understand who the Fupay product has been designed for by describing the class of customers that comprise the target market for the product, taking into account the objectives, financial situation and needs of the target market. The TMD will also address the distribution of the product, the frequency of review of this document as well as what information will be considered in maintaining the accuracy of this document. . Further information on the Fupay product can be found on Fupay’s website and via the Fupay app. Customers should consider whether the product is appropriate for them before applying for or entering into the product.

Target market for this product

The product is a small personal loan of between $500 and $2,000 provided to Fupay customers over a term between 16 days and 12 months. The product has been designed for customers who:

This product is not suitable for customers who:

FUPAY MEDIUM PERSONAL LOANS

This target market determination (“TMD”) is designed to provide customers, merchants and Fupay Holdings Limited ABN 34 628 317 377 (“Fupay”) employees and agents with information to understand who the Fupay product has been designed for by describing the class of customers that comprise the target market for the product, taking into account the objectives, financial situation and needs of the target market. The TMD will also address the distribution of the product, the frequency of review of this document as well as what information will be considered in maintaining the accuracy of this document. . Further information on the Fupay product can be found on Fupay’s website and via the Fupay app. Customers should consider whether the product is appropriate for them before applying for or entering into the product.

Target market for this product

The product is a personal loan of between $2001 and $5,000 provided to Fupay customers over a term between 16 days and 24 months. The product has been designed for customers who:

This product is not suitable for customers who:

Distribution conditions and controls

To apply for Fupay’s product a customer must have an active account with Fupay and be fully onboarded. As part of the onboarding process, the member links their bank account/s and enters their personal and identification document details. Fupay confirms the customer’s identity through KYC/AML verification. After completing the onboarding process the customer may apply for this product. The application process includes a number of automated checks and questions that provide Fupay with information to help determine if the application is within the target market for this product. The information provided will also be used to determine if the product will be offered and the terms of the product offering (i.e. loan amount and term). This assessment is undertaken each time a customer applies to use Fupay’s product. A repayment schedule is communicated clearly to the approved customer through the app so they can assess whether the product meets their needs and compare it to other credit products they may be considering

Review of this document

This TMD will be reviewed within 1 year from the last review to ensure it remains appropriate.

Fupay will also review this TMD if an event or circumstance (called a ‘review trigger’) occurs that would reasonably suggest that the TMD is no longer appropriate, or the product is no longer consistent with the likely objectives, financial situation and needs of customers in the target market, or the distribution conditions do not make it likely that the customers who acquire the product are in the target market.

Examples of review trigger may include:

Fupay will review this TMD within 10 business days of any review trigger.

Reporting

Fupay must record all complaints received about this product and report on a quarterly basis.

Further questions

If you have any questions about Fupay’s products or this TMD, please contact us on 0426 362 547 or by email at hello@fupay.com.au .

First publication date: 2022/02/21 Last review date: 2022/02/21 Issuer: Fupay Holdings Limited (ABN 123456789, ACR 123456789)