Tactical Investment Idea

EML Payments (ASX: EML) - Strategic Turnaround or Structural Decline?

EML Payments (ASX: EML) has undergone a significant transformation over the past 18 months following regulatory scrutiny, operational inefficiencies, and strategic missteps. With new leadership, a refined focus on core segments, and cost optimizations in progress, the business may be at an inflection point. Trading at a deeply discounted valuation relative to historical multiples, EML presents an asymmetric risk-reward setup for investors seeking exposure to the Australian fintech space.