EML $5 Party :-), page-101

there has always been a massive lack of understanding around what EML does vs say BNPL or banks or card acquirers (Tyro, ISX) or lenders. Not just at retail investor level but at an institutional level.

So, I suspect in the short term, a collapse of a large banking entity Wirecard (and issues with the like of ISX) will create risk aversion and investors will want to know if it could happen to EML. I have yet to read any info on exactly how Wirecard made up the 2bn and got away with it. I don't think anyone knows yet.

So short term negative I think because of the herd mentality of the investment community regarding EML. Long term positive because of the client base, 4x the size of EML's current client base, that may need a new issuer.