Is the EML Payments (ASX:EML) share price a buy?

The EML Payments Ltd (ASX: EML) share price has recovered a lot of the lost ground since the COVID-19 crash. It has risen by 168% since the bottom of March, however it’s actually still down by 37% from before the COVID-19 crash.

What is EML Payments?

EML Payments is a business that offers a wide variety of payment services. It has general purpose reloadable offerings such as gaming payouts with white label gaming cards, salary packaging cards, commission payouts and rewards programs. EML Payments also offers physical gift cards, shopping centre gift cards and digital gift cards. Finally, it offers virtual account numbers.

What happened during the worst of COVID-19?

FY20 was a record year for EML Payments. It generated a record…