The financial market infrastructure giant BankservAfrica has officially been rebranded to PayInc. The launch, held yesterday, marks a decisive shift in the organisation’s role at the centre of South Africa’s payments landscape.
More than a simple change, the rebrand reflects a renewed purpose, positioning the leading payments provider as the trusted partner in building a digital payments ecosystem that is secure, efficient and inclusive for all.
“Our new name strongly positions who we are. ‘Pay’ highlights what we do, while ‘Inc’ speaks to why we do it – economic inclusivity,” says PayInc CEO, Stephen Linnell.
“This change is not cosmetic. It highlights an organisation building on a strong foundation while embracing a greater role in shaping the future of payments in South Africa. We are intentionally focused on unlocking economic growth and enabling financial inclusion through secure and efficient digital payments.”
This new chapter is built upon over 50 years of experience, during which the organisation played a vital role in facilitating the nation’s electronic, card, and cash payments.
Central to the new identity is the brand promise, ‘Making Great Connections’. This principle captures the company’s belief that sustainable economic growth depends on a broad and collaborative ecosystem.
“Making Great Connections reflects our commitment to enable secure, reliable and innovative digital payments that link every South African to the economy,” adds Linnell.
The rebrand reinforces PayInc’s drive for digital innovation, exemplified by services like PayShap.
Launched in 2023 as South Africa’s first interoperable, real-time payments service, it allows anyone to make instant payments using just a cellphone number.
“PayShap proves what can be achieved when the industry unites with purpose,” says Linnell. “It shows how purposeful innovation can drive economic velocity and broaden participation in the economy.”
PayInc is also enabling regional integration through its instant cross-border payments service (TCIB), whose growing adoption highlights how payments infrastructure can accelerate economic growth across Southern Africa.
“Whether it’s helping a small business access new customers or ensuring social grants reach those who need them most, PayInc is proud to be a force for inclusive growth,” says Linnell. “Our new brand reflects our long-term commitment to building a digital payments ecosystem that empowers generations of South Africans to participate fully in the economy.”
