BankservAfrica has launched its new identity, marking a decisive shift in its role at the centre of South Africa’s payments landscape.
Now PayInc, the rebrand represents more than a change of name. It 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.”
For over 50 years, the organisation has played a vital role in South Africa’s financial system – facilitating electronic, card, and cash payments, and supporting cheques until its 2020 sunset.
At the heart of PayInc’s refreshed identity is its brand promise, ‘Making Great Connections’. This principle captures the company’s belief that sustainable economic growth depends on a broad and collaborative ecosystem of participants.
“Making Great Connections reflects our commitment to enable secure, reliable and innovative digital payments that link every South African to the economy,” adds Linnell.
PayInc’s rebrand reinforces its drive for digital innovation. PayShap, launched in 2023 as South Africa’s first interoperable, low-value, real-time payments service, is one such example. PayShap makes it possible for 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 Transactions Cleared on an Immediate Basis (TCIB), a world-class service for instant cross-border payments. Its growing adoption highlights how interconnected Southern Africa’s economies are, and how payments infrastructure can accelerate regional economic growth.
“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.”