EML Payments on a winning streak in Europe, US

EML Payments on a winning streak in Europe, US

Listed fintech EML Payments (ASX: EML) is off to a strong start overseas in 2019 with new product launches in North America and Sweden, taking its number of reloadable prepaid programs around the world up to 12.

The Brisbane-based company's share price is still down around 23 per cent from its 12-month high of $1.88 in August, but the group is ticking along with new contracts.

On 21 January EML launched a branded payments card with PointsBet USA Inc in New Jersey, a state where sports betting has only recently been legalised.

The scope of the PointsBet USA partnership is expected to be much wider as the two firms expand throughout the USA by securing licenses in states that chose to legalise and regulate the practice.

EML Payments laid the groundwork for further growth in Europe with the announcement today of a reloadable winnings card program launch in Sweden with Betsson, the Nordic country's largest gaming group which operates the Betsson, NordicBet and Betsafe brands.

The Betsson Group has operated for over 50 years and holds gaming licences in 12 jurisdictions including in Europe and Central Asia, employing around 1,800 people across 10 locations.

Related story: EML taps into Millennial fin-techs with new payment programs

The new programme offers cardholders the ability to transfer winnings from their gaming account onto the card instantly, giving cardholders access to cash usage anywhere that Mastercard is accepted.

EML highlights its proprietary processing system gives Betsson the ability to block the cards from being used at competitive gambling sites.

Betsson anticipates the program, which is the first of its kind in Sweden, will assist it in both customer retention as well as acquiring new customers due to the convenience of instant access to their winnings.

Led by Tom Cregan, EML also has reloadable prepaid programs in the gaming industry in Australia and the UK.

Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.

Business News Australia

Get our daily business news

Sign up to our free email news updates.

 
Whitefox Recruitment founder Luke Hemmings making strides as a careers leader
Partner Content
After relocating his Canberra-founded company Whitefox Recruitment to the Gold Coast la...
Whitefox Recruitment
Advertisement

Related Stories

ASIC secures its first court win for greenwashing against US giant Vanguard

ASIC secures its first court win for greenwashing against US giant Vanguard

The Australian corporate watchdog has caught out one of the world&r...

Medicinal cannabis group Althea shaves $1.5m from its cost base through staff cutbacks

Medicinal cannabis group Althea shaves $1.5m from its cost base through staff cutbacks

Australian-founded medicinal cannabis company Althea Group (ASX: AG...

Charter Hall snares 15pc stake in Hotel Property Investments for $97m from 360 Capital

Charter Hall snares 15pc stake in Hotel Property Investments for $97m from 360 Capital

Listed funds manager 360 Capital Group (ASX: TGP) has offloaded its...

The party’s over: Splendour in the Grass festival cancelled for 2024

The party’s over: Splendour in the Grass festival cancelled for 2024

Splendour in the Grass, Australia’s largest winter music fest...