Tyro Target Market Determinations
What is a Target Market Determination (TMD)?
A Target Market Determination is a document created by Tyro that describes:
- The class of merchants who account for the product’s Target Market.
- Any conditions around how the product is distributed to merchants.
- Events or circumstances where we are required to review the Target Market Determination for a financial product.
- The relevant information that must be provided to us by distributors at our required frequency, such as number of complaints and any significant dealings in the product that are inconsistent with the Target Market Determination.
Why do we have Target Market Determinations?
- We’re required to have Target Market Determinations under the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019.
- The purpose is to make sure our Merchants and Customers are at the centre of our approach when designing and distributing our Tyro products.