Target Market Determination

A Target Market Determination (TMD) is a key part of a regulatory framework called the Design and Distribution Obligations. These obligations apply to most consumer financial services. This TMD is not to be treated as the entire set of product terms and conditions and is not intended to provide financial advice.

The Australian Securities and Investments Commission (ASIC) is the regulator that is responsible for overseeing the Design and Distribution Obligations. You can find out more on ASIC's website.

This TMD applies to the short-term credit product (“Advanced Dividend Payment”) offered by Divvy Now Pty Ltd (ACN 662 292 551).

Divvy Now’s Advanced Dividend Payment product is designed for any consumer who owns listed investments that pay dividends or other types of distributions. The Advanced Dividend Payment is simply paying in advance, an entitlement owed to the consumer by the entity they have a holding in.

To be eligible for a Divvy Now Advance Dividend Payment, consumers must meet the following eligibility requirements:

• Be 18 years or older

• Owns Australian or International shares, or other listed investments that entitles them to a dividend or distribution.

• Be willing and able to lodge their shares or other listed investment with Divvy Now as security until the record date

• Be willing to pay a fixed fee of 5% to receive the Advanced Dividend Payment

This product has not been designed for the following consumers:

• Those who are under 18 years of age

• Self-Managed Super Funds

This product is designed to be distributed through digital means via a mobile and web-based application as well as paper-based applications when required. Marketing and advertising is to be conducted via partnerships, sponsorships, referrals, social media and other online and offline marketing channels. 

Initial Review – 24th November 2022

Periodic Reviews – Every 2 years from the initial review unless there is any material change to the Design and Distribution Obligations, the target market, or to the product that triggers an earlier review.