EML is not a BNPL stock, page-27

I'll give you a real life example of what ONE part of EML does, offers and how they make money.

- I work for a government organisation
- The workplace offers me salary packaging which is operated by a 3rd party XXX.
- The salary packaging allows me to deduct a sum of money for living expense (pre-tax)
- Part of that deduction goes straight into my bank account and is not taxed and another portion of money is loaded onto a prepaid Master/Visa debit card.
- The portion which is loaded onto the prepaid card is for spending on living expenses, meals and accommodation only.
- That prepaid card is EML's payment solution which they sell to e.g. salary packaging companies XXX
- EML make money by charging a fee. This gets past onto the customer (me)
- I pay an upfront fee for the physical card and an ongoing periodic card account fee.

A lot of government entities and private organisations offer salary packing to their employees. Now imagine 100,000 employees sign up and pay an ongoing card account fee for this service, this goes into EML's revenue.

That same solution of LOADING UP PRE-PAID cards is what Gifts Cards you see in store are.

Also everything behind the scenes to make that card transact is EML's solution offering

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XXX Salary Packaging Pty Ltd is involved in the promotion and distribution of the Card and is a Corporate Authorised Representative of EML Payment Solutions Limited ABN 30 131 436 532 AFSL 404131.