Central Bank of the Republic of Turkey (TCMB)License Revocationcritical

Aypara

Turkey

In late March 2025, the Central Bank of the Republic of Turkey (TCMB) suspended and subsequently permanently revoked the EMI license of Aypara, a fintech digital wallet operator. Aypara was accused of processing transactions linked to illegal gambling. The action was part of the same enforcement sweep that targeted PayFix and Ininal, coordinated with Turkey's financial intelligence unit MASAK and criminal prosecutors. The permanent license revocation excludes Aypara from the Turkish payments market. The TCMB framed the enforcement as part of proactive surveillance to prevent misuse of payment infrastructure.

Verified from source: The Central Bank of the Republic of Turkey (TCMB) suspended and then fully revoked the Electronic Money Institution (EMI) license of Aypara as part of a crackdown on digital wallet providers facilitating illegal gambling transactions. Aypara was among three fintech firms (alongside PayFix and Ininal) whose operations were halted during the investigation.

Implications
  1. Multiple simultaneous EMI license revocations show regulators can act swiftly against clusters of non-compliant payment providers
  2. Highlights compliance risks for digital wallet providers that lack robust transaction monitoring for illicit activity
Source
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