AFS and PayTic Forge Strategic Partnership to Enhance Card Program Management

Arab Financial Services (AFS), the Middle East and Africa region’s leading digital payment solutions provider and fintech enabler, announced a strategic partnership with PayTic, a Software-as-a-Service company specializing in end-to-end automation of process-heavy card program operations. Their modules include chargeback management, scheme and custom data reconciliation, scheme fee optimization, and regulatory reporting, all working in tandem to streamline operations for greater efficiency and scalability.

PayTic will support AFS's internal operations and offer their suite of back-office automation modules to AFS's existing clients and regional banks, streamlining the end-to-end daily operations, increasing productivity, mitigating risks, and adding greater value.

Mr. Ghassan Mardini, AFS COO, said: "Partnering with PayTic marks a significant step forward for us at AFS. This collaboration will streamline our operations and enhance efficiency in card program management. This will provide our clients with advanced tools and solutions, empowering them to navigate today's complex financial landscape more effectively and securely. This partnership aims to set new standards in the paytech sector across the Middle East and Africa.”

Mr. Imad Boumahdi, PayTic Founder & CEO, said: "AFS is a pioneer in the paytech sector, and we look forward to this partnership with them, which will allow us to extend our proven track record of innovative solutions to a broader audience, benefiting banks and financial institutions across the region. Together, we aim to enhance operational efficiency and effectiveness in managing card programs, supporting our shared commitment to advancing financial technology and delivering exceptional value to our clients.”

This partnership underscores AFS's dedication to innovation and delivering advanced paytech solutions. By integrating PayTic's modules, AFS will continue to support banks and financial institutes to achieve their financial goals.

About AFS: Arab Financial Services (AFS) was formed in 1984 to provide payment products, services and expertise to banks and merchant groups and deliver customized payment solutions in an increasingly divergent, disruptive, and dynamic payment ecosystem.

AFS is owned by 37 banks and financial institutions, and serves over 60 clients in more than 20 countries across the Middle East and Africa. Today, AFS is the region’s leading digital payment solutions provider and fintech enabler. Regulated by the Central Bank of Bahrain, the Company’s ground-breaking, end-to-end payment services and solutions span debit, credit, and Islamic card processing, Merchant Acquiring, fintech and a state-of-the-art, value-added services suite. Providing the highest quality payments solutions that are trusted by businesses, AFS has offices and data centers in the Kingdom of Bahrain, Arab Republic of Egypt, Sultanate of Oman, and the United Arab Emirates.

Visit the AFS Website for more information and join the conversation on LinkedIn.

Media enquiries about AFS and its subsidiary companies can be directed to: Email: pr@afs.com.bh Telephone: +973 1729 7376