Log In

Target Market Determination

Product Name: RentPay Scorebuilder 
Product Issuer: RentPay Technology Pty Ltd ACN 636 254 709 (RentPay) 
Product Class: Low-Cost Credit Contract  

1. Purpose of this Document

This Target Market Determination (TMD) is issued under the Corporations Act 2001 (Cth) and aims to define the class of consumers for whom the product was designed. This document is not financial advice. 

For inquiries about this TMD, please contact RentPay on 1300 797 933 or support@rentpay.com.au if you have any questions relating to our Target Market Determination page at https://www.rentpay.com.au/scorebuilder-target-market-determination/  

2. Consumer Target Market

Target Market 

The RentPay Scorebuilder is designed for consumers who: 

  • Are between the ages of 18 and 65 years old. 
  • Hold an Australian bank account. 
  • Have a permanent residential address in Australia.  
  • Have an active RentPay account and are currently paying their rent through RentPay.  
  • Have demonstrated good conduct through RentPay in paying their rent.  
  • Have a regular source of income (employment, self-employment, or government benefits). 
  • Seek to improve their credit score with independent credit reporting bodies without having to enter into higher cost loan contracts. 

Customer Objectives and Needs (purpose of credit)  

The product is intended for consumers who: 

  • Have a need to borrow up to $500.  
  • Want an interest-free, low-cost credit facility. 
  • Want to use the borrowings to use for unexpected expenses, cover life events, or conduct minor home or car repairs. 
  • Want the certainty of repaying borrowings through an agreed schedule of regular minimum repayments.  
  • Want the ability to repay the revolving line of credit loan over a short period. 

Customer Financial Situation 

Consumers suitable for RentPay Scorebuilder:  

  • Should have an up-to-date rental payment status on their RentPay account.  
  • May have had within the last 90 days missed repayments, credit defaults on MACC loans.  

Excluded Consumers 

This RentPay Scorebuilder product is not suitable for consumers who: 

  • Do not use RentPay to pay their rent. 
  • Cannot demonstrate that they are able to make at least one month’s rent payments in full and on time. 
  • Cannot satisfy RentPays eligibility requirements.  
  • Are bankrupt or are currently under a Part IX debt agreement Have no active bankruptcy or debt agreements under Part IX of the Bankruptcy Act. 
  • Are experiencing substantial financial hardship or have an existing hardship arrangement with RentPay.  
  • Intend to use the proceeds for gambling, alcohol or illegal activities. 
  • Have arrears / default on any of their existing credit commitments. 

All loans are subject to RentPay’s credit policies and procedures.  

3. Key Product Features

This product has the following key features:  

  • Available only through the RentPay app.  
  • Revolving line of credit loan up to $500.  
  • No interest rate charged with a flat fortnightly fee. 
  • Can be repaid over a term of 4 fortnights.  
  • Regular repayments set to fortnightly repayments.  
  • No penalty or fees for early loan repayments.  
  • Loan does not require a collateral (it is unsecured credit).  
  • Loan amount is transferred to the customers bank account.  
  • Reporting payment behaviour to a credit bureau to build a positive credit history. 

Scorebuilder fees: 

  • Application fee of $4.00 once off 
  • Subscription fee of $1.00 per month 
  • Usage fee of $4.00 per fortnight 
  • Default or missed payment fee of $15.00 

4. Distribution Conditions

Permitted Distribution Channels 

RentPay Scorebuilder is distributed through: 

  • The RentPay App only.  

Distribution Conditions and Restrictions 

  • Distribution is limited to active RentPay consumers.  
  • Customers must complete a Scorebuilder application. 
  • Customers must pass our identity verification process. 
  • A credit enquiry of the customers’ credit file is conducted to further verify their financial situation. 

5. Review Triggers and Monitoring

Review Triggers 

This TMD will be reviewed within 10 business days if: 

  • A significant increase (as referenced by an increase beyond normal historical patterns) in complaints suggests misalignment with consumer objectives, needs or financial situation.  
  • A significant increase (as referenced by an increase beyond normal historical patterns) in hardship applications or defaults occurs within 4 weeks of product uptake. 
  • A significant increase (as referenced by an increase beyond normal historical patterns) in the number of missed repayments within 4 weeks of the loan being issued 
  • A systemic Issue is identified by the Australian Financial Complaints Authority (AFCA) 
  • A material changes to the laws applicable to this product, the product features or terms, or the distribution method 
  • A significant number of dealings outside target market. 
  • A material change to product terms or distribution occurs. 

Scheduled Review Periods 

  • The TMD will be reviewed annually, with the next scheduled review on 10th June 2026. 

When subsequent reviews must occur 

  • A maximum of 12 months from the previous review date 
  • As required, where a Review Trigger (see above) occurs 

6. Contact Information

For further details, contact RentPay on 1300 797 933 or support@rentpay.com.au, the TMD is available at https://www.rentpay.com.au/scorebuilder-target-market-determination/

Issue Date: 10th June 2025 
Next Review Date: 10th June 2026