EML Payments on a winning streak in Europe, US
Written on the 4 February 2019 by Business News Australia
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
Author: Business News Australia