EML Payments establishes innovation hub in Galway

Australian company EML Payments is establishing a technology and innovation hub in Galway, expanding its existing Irish presence and adding 20 jobs.

The company, which offers prepaid payments services in Australia, Europe and North America, has a sales and marketing operation in Wicklow. The decision to establish the Galway hub came following EML's acquisition of Irish prepaid debit card firm Perfectcard DAC in July.

EML Payments issues mobile, virtual and physical card solutions for pay-outs, gifts, incentives and rewards, and also offers supplier enablement, payment execution and programme management.

"Having an Irish e-money licence allows EML to self-issue regulated payment products across the European Union without the need for external third-party BIN [bank identification number] sponsors, which provides our customers with greater regulatory certainty," said EML managing director and group chief executive Tom Cregan. "The acquisition also expands our product capability, enabling EML to become an issuer, payment processor and programme manager across the European Union. Perfectcard provides EML with an excellent corporate expense and corporate incentive solution that we can grow in our existing geographies."

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The company is being supported by IDA Ireland.

Minister for Business Heather Humphreys welcomed the expansion, describing it as a vote of confidence in Galway and the highly skilled local workforce.

IDA Ireland executive director Mary Buckley said the investment strengthened Ireland's network in Australia.

“As a strong presence in the fintech sector, this new investment by the company will act as an excellent reference sell for the financial services, fintech and software development sectors,” she said.