EML SHARES SURGE AS PAYMENTS PROVIDER CONTINUES INTERNATIONAL EXPANSION

EML SHARES SURGE AS PAYMENTS PROVIDER CONTINUES INTERNATIONAL EXPANSION

PAYMENT solutions provider EML Payments Limited (ASX: EML) has signed a deal with InfoSync Services in the US to provide B2B systems for more than 7,500 restaurants.

The Brisbane-based company, through its US subsidiary, will supply its integrated payment services to InfoSync which provides outsourced accounting, payroll, and reporting services to restaurants across North America.

"We look forward to launching the first of many programs for InfoSync in the coming months," says EML Group CEO Tom Cregan.

"EML enables companies to seamlessly offer electronic payments, including virtual cards, as part of their existing solution.

"EML is well equipped to quickly and easily integrate virtual payments for a wide array of industries, solution providers and processing platforms."

The announcement follows on from EML's push into Europe last month when it entered into a multi-year agreement with Fortuna Entertainment Group.

The deal will see EML providing the gaming company with reloadable cards that can be used by customers to immediately access their winnings and put money back into their account.

Fortuna is the largest betting operator in central Europe and is regulated in all markets in which it operates.

EML will roll the program out initially in the Czech Republic and will expand through Europe if the program is successful.

In its 2017 full year report, EML increased revenue by 149 per cent to $58 million with 87 percent of its revenues generated outside of Australia. EBTA rose 189 per cent to $14.5 million.

At around 10.40am (AEST) EML shares were trading up by 8 per cent to $2.20.

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