PayTic: 10 Key Things You Must Know

Overview

PayTic is a fast-growing fintech company that has garnered significant attention for its innovative solutions in the payment processing sector. Founded in 2020 by Imad Boumahdi, the company specializes in automating complex operational processes for card issuers, offering a platform that enhances efficiency and compliance. With its headquarters in Charlottetown, Prince Edward Island, PayTic addresses key challenges faced by banks, credit unions, and fintechs globally. Readers will discover more about PayTic's origins, its unique services, and how it is transforming the financial tech landscape.

1. Founding and Growth

PayTic was founded in 2020, born out of founder Imad Boumahdi's firsthand experiences with the inefficiencies in conventional payment processing systems. After identifying persistent issues with disparate data sources and payment processing disputes during his tenure at Carta Worldwide, Boumahdi built PayTic as a solution to these challenges. Since its inception, PayTic has expanded rapidly, now employing over two dozen skilled workers and establishing itself in key markets across North America, Africa, and the Middle East.

2. Strategic Funding and Expansion

In April 2025, PayTic secured $4 million in funding from investors led by AfricInvest, highlighting its role in revolutionizing payment reconciliation. This funding is set to propel the company's expansion across Africa and the Middle East, enabling it to scale its payment automation solutions further. The investment reflects a growing confidence in PayTic's ability to modernize financial operations globally.

3. Innovative Services

PayTic offers a software-as-a-service (SaaS) platform that automates operational processes such as reconciliation, chargeback management, and regulatory compliance. By reducing reliance on manual processes, the PayTic platform enhances workflow efficiency and minimizes human error. Its services cater to a wide range of financial institutions, including banks, fintechs, and credit unions, helping them streamline their card program management.

4. Global Impact

PayTic’s influence extends beyond its Canadian roots. The company has made substantial inroads in Africa and the Middle East, regions known for their rapidly evolving fintech landscapes. By addressing the payment processing needs in these areas, PayTic contributes significantly to financial inclusion and the modernization of digital financial services.

5. Partnerships and Collaborations

PayTic has forged strategic partnerships with global entities such as Mastercard and Visa, further strengthening its market presence. These collaborations enhance PayTic’s capability to offer comprehensive back-office solutions to its clients, facilitating smoother operations and better resource management.

6. Recognition and Awards

The innovative nature of PayTic's solutions has not gone unnoticed. The company was recognized as a finalist at the Banking Tech Awards USA 2025, endorsing its dedication to innovation in the fintech sector. Such accolades help affirm PayTic’s reputation as a leader in fintech innovation.

7. Technological Advancements

Central to PayTic’s offerings is its use of artificial intelligence and no-code platforms to streamline and automate complex banking processes. This technology minimizes manual intervention, offering a more intuitive and error-free approach to payment operations, and setting PayTic apart in the competitive fintech landscape.

8. CEO's Vision

Imad Boumahdi, CEO of PayTic, envisions creating a fully automated back-office environment for financial operations globally. His leadership is focused on scaling PayTic’s technological solutions to meet the diverse needs of financial entities, allowing them to concentrate more on growth rather than on procedural inefficiencies.

9. Industry Challenges and Solutions

PayTic addresses the growing demand for efficient payment reconciliation and compliance systems, particularly in regions with fragmented payment infrastructures. By providing a platform that automates and simplifies these processes, PayTic helps its clients reduce costs and improve operational reliability.

10. Future Prospects

Looking ahead, PayTic aims to continue its expansion into new markets, with a focus on developing AI-driven compliance tools that enhance its service offerings. Plans to open additional offices in key locations such as Dubai and Lagos signify its commitment to maintaining its growth trajectory and expanding its global footprint.

Conclusion

PayTic is at the forefront of transforming the payment processing industry through its innovative SaaS solutions. From its strategic global expansions to accolades in fintech innovation, PayTic stands as a testament to the potential of technology-driven financial services. As PayTic expands its operations, it continues to play a pivotal role in shaping the future of payment reconciliation