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EML Payments and these ASX mid cap shares could be destined for big things

If exciting small cap ASX shares like Whispir Ltd (ASX: WSP) are too small for your tastes, then you might want to have a look at the mid cap side of the market.

At this side of the market I believe there are a number of shares which have the potential to grow very strongly in the future. Perhaps even to the point that they one day become large caps.

Three top mid cap ASX shares to consider buying are listed below:

BINGO Industries Ltd (ASX: BIN)

BINGO is a leading waste management company which I think has a lot of potential. This is thanks to its expansion opportunities in Australia and the game-changing acquisition of rival Dial a Dump Industries. The addition of Dial a Dump Industries has transformed BINGO into a fully vertically integrated business from collections to landfill. Although the pandemic is likely to weigh on its short term performance, I think it is worth focusing on its very positive long term prospects.

EML Payments Ltd (ASX: EML)

Another mid cap share to consider buying is EML Payments. It is a payments company with a focus on digital gift cards and pre-paid cards. It also provides the technology that supports certain buy now pay later offerings. The company has been growing at a very strong rate over the last few years. Pleasingly, I believe it is well-positioned to continue this positive trend once the pandemic passes. Especially following the recent acquisition of Prepaid Financial Services. This acquisition gives EML exposure to banking as a service (BaaS) and could be a key driver of growth in the coming years.

Opthea Ltd (ASX: OPT)

A final mid cap share to look at is Opthea. It is a developer of novel biologic therapies for the treatment of eye diseases. Last year Opthea reported very positive Phase 2b study results for its OPT-302 combination therapy. If its phase 3 trial is successful, the company has a multi-billion dollar opportunity treating wet age-related macular degeneration and diabetic macular edema. Another positive is that Opthea has a very strong balance sheet and appears well-funded to see OPT-302 through its remaining trials.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of June 30th

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Emerchants Limited and Whispir Ltd. The Motley Fool Australia has recommended Emerchants Limited and Whispir Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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