PayInc

PayInc, formerly known as BankservAfrica, is South Africa's leading automated clearing house and national payments utility located in Johannesburg, serving both national and pan-African transactions. Founded in 1972 as the Automated Clearing Bureau, the company changed its name to Bankserv in 1993, rebranded to BankservAfrica in 2010, and most rece... ntly adopted the PayInc identity in August 2025 to reflect its expanding role as a core player in South Africa's financial ecosystem. PayInc is a purpose-driven payments provider with over 50 years of experience operating as a Payment Clearing House System Operator, providing interbank switching, clearing, and settlement services to the South African banking sector as an integral part of the country's National Payments System. The company annually processes a significant volume of transactions encompassing various sectors including banking, corporates, government, and retail, facilitating interbank payment transactions in a highly regulated system compliant with international banking best practices and standards. PayInc processes bank card, ATM, and electronic funds transfer transactions between South African banks, supporting salary payments, bills, and interbank transfers while reducing risk and complexity in the industry. The company is regulated by the Payments Association of South Africa and the South African Reserve Bank, operating within a sound regulatory framework based on the National Payment System Act and Payment Clearing House System Operator Criteria. PayInc's ownership structure underwent significant transformation in November 2025 when the South African Reserve Bank acquired a 50 percent stake in the company, with the remaining 50 percent held by commercial banks including FirstRand, Standard Bank, Absa, Nedbank, and Capitec as equal shareholders, along with minority stakes held by Access Bank, African Bank, Citibank SA, Investec, and Sasfin. This transaction established PayInc as a national payments utility through public-private collaboration aimed ...Read More