Bank of Ghana Warns Public Against Unlicensed Digital Platforms YellowPay and HanyPay

By Joylinda Laryea | June 12, 2025

The Bank of Ghana (BoG) has issued a strong caution to the public against the use of YellowPay, a digital payment platform operated by Yellow Card Financial Inc., which is not licensed to operate in Ghana. According to Notice No. BG/GOV/SEC/2025/13, YellowPay is unlawfully promoting services such as digital payments, cryptocurrency trading, and cross-border remittances without approval from the central bank.

The BoG revealed that YellowPay purports to enable users to send and receive electronic money and stablecoins across borders, and convert them into local currency, activities that require appropriate licensing in Ghana.

In a further regulatory concern, the BoG disclosed that YellowPay is reportedly collaborating with HanyPay, another unlicensed entity, in an initiative involving the development and integration of a new stablecoin called AKL Lumi. HanyPay claims affiliation with the Africa Diaspora Central Bank (ADCB), an institution the BoG does not recognize as a legitimate central bank.

“The Bank of Ghana wishes to inform the general public, financial institutions, and all stakeholders to desist from engaging with Yellow Card Financial Inc. and HanyPay Ghana, as their operations are not sanctioned by the Bank,” the statement emphasized.

The public is advised to remain vigilant and report suspicious financial platforms to the BoG’s FinTech and Innovation Office via fintech@bog.gov.gh or call +233 (0) 302 739 650.

The notice was signed by Ms. Sandra Thompson, Secretary of the Bank of Ghana, and dated 10th June 2025.

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