It is safe to Australian payments company EML has not enjoyed the easiest of arrivals into the Irish market. It acquired Irish-founded Prepaid Financial Services in November 2019, with the deal closing in March 2020. It was a hefty purchase. EML paid an upfront enterprise value of €155 million – less than an initial pre-Covid offer, but still a massive windfall for its founders Noel and Valerie Moran in 2019. Since then, however, the Irish entity has been dealing with a series of issues. EML lost 50 per cent of its value within days of the Irish Central Bank expressing…

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