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The latest update is out from EML Payments ( (AU:EML) ).
EML Payments’ subsidiary EML Payment Solutions Limited is working through an Australian prudential process as some of its prepaid card programs are deemed purchased payment facilities by regulators. The company is seeking authority to conduct banking business in Australia and is progressing an application for an Authorised Deposit‑taking Institution licence with the Australian Prudential Regulation Authority.
Pending the outcome, regulators have required an interim guarantee from an authorised deposit‑taking institution to cover stored‑value liabilities for certain programs, with the implementation deadline now extended as EML advances its guarantee structure. Management expects the cost of this temporary arrangement to be immaterial to earnings and anticipates securing the licence within about 12 months, limiting operational disruption while satisfying heightened regulatory expectations.
The most recent analyst rating on (AU:EML) stock is a Buy with a A$0.66 price target. To see the full list of analyst forecasts on EML Payments stock, see the AU:EML Stock Forecast page.
More about EML Payments
EML Payments is a global payments company operating across Australia, New Zealand, the UK, Europe and North America. It provides prepaid and other payment solutions to a broad customer base that includes government agencies, retail brands, fintechs and financial services firms, positioning the group in the fast‑evolving digital and embedded payments market.
Average Trading Volume: 2,756,808
Technical Sentiment Signal: Sell
Current Market Cap: A$163.2M
For detailed information about EML stock, go to TipRanks’ Stock Analysis page.