PayTic provides a platform for card issuers and fintechs to automate back-office payment operations, including customizable daily reconciliation and automated regulatory reporting. This technology enhances operational efficiency and scalability while minimizing compliance risks and manual processing errors.
Funding
$3M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Card issuers and fintechs often face challenges in managing back-office payment operations, leading to manual processing errors and increased compliance risks. Customizable daily reconciliation and automated regulatory reporting are difficult to achieve with legacy systems. This can hinder operational efficiency and scalability.
Solution
PayTic offers a platform designed to automate back-office payment operations for card issuers and fintechs, enhancing operational efficiency and scalability. The platform provides customizable daily reconciliation for network and internal data, allowing for comprehensive financial oversight. It also automates the generation of regulatory reports such as QOC and QMR, ensuring compliance and reducing the risk of errors. Furthermore, PayTic offers instant line-by-line network invoice analysis and customizable data workspaces where files can interact, streamlining data management and analysis.
Target Audience
PayTic is designed for banks, credit unions, and fintechs looking to optimize and scale their card programs.
Features
- Fully customizable daily reconciliation for network and internal data
- Automated generation of regulatory reports like QOC and QMR
- Instant line-by-line network invoice analysis
- Customizable data workspaces for interconnected data analysis
- Auto-generated invoices for BIN Sponsors working with Fintechs
- End-to-end chargeback processing capabilities