Target Market Determination

Updated as of 28 February 2022

What is a Target Market Determination (TMD)?

A TMD document describes who a financial product might be suitable for (the target market) and any conditions on how the product may be distributed. It also describes the circumstances of when the product issuer may need to review the Target Market Determination.


Why do we need a TMD?

The Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019 introduced the design and distribution obligations as an amendment to Ch 7 of the Corporations Act. This law requires financial product issuers  to have TMDs from the 5th October 2021 for all financial products. The purpose of this law is to ensure that financial products are designed and promoted to specified customer types which are suitable for their needs.


Is the TMD the same as the Product Terms & Conditions (T&Cs)?

No. The TMD does not provide a full description of the T&Cs applying to financial products and is not intended to act as financial advice. Its purpose is to describe the type of customer the product was designed for. You must always refer to the applicable Product T&Cs when making a decision about whether to take a product offered by the product issuer.


Volt Retail Cash Management Account (CMA)

Volt Bank Limited (Volt) ABN 67 622 375 722, which holds an Australian Financial Services Licence (No. 504782), is the product issuer of the bank accounts in Parpera's app.

The Volt Retail CMA is a day-to-day bank account issued by Volt Bank, that allows access to funds any time and has flexible methods to make payments and withdrawals from the account.


Where can I obtain a copy of the Volt Retail CMA TMD?

You can access a copy of the Volt Retail CMA TMD here.

Parpera Mastercard Business Debit Card ®

Railspay Pty Ltd (Railspay) ABN 17 646 031 558, which holds the Australian Financial Services Licence (No. 530983), is the product issuer of the Parpera Mastercard Business Debit Card in Parpera. This debit card program has been designed to provide sole traders who already have a Volt Retail Cash Management Account (CMA) with a debit card to help manage business expenses and access their cash.

Where can I obtain a copy of the Parpera Mastercard Business Debit Card ® TMD?

You can access a copy of the Parpera Mastercard Business Debit Card ® TMD here.


Download our App to access the future of money for businesses, today!

Download on the Apple App Store LogoGoogle Play App Store Logo
Thank you for signing up!
We’ll let you know when we’re ready to exclusively invite you to use Parpera!
Oops! Something went wrong while submitting the form.