Company:PayInc
 | |
| Formerly | BankservAfrica |
|---|---|
| Type | Automated clearing house |
| Industry | Financial services |
| Founded | 1972 |
| Headquarters | Johannesburg, South Africa |
Area served | Africa |
| Products | Payment processing, Clearing and settlement services, Consulting |
| Services | Payment collection, Payment switching, Clearing and settlement, Consulting, System hosting, Business process outsourcing, SWIFT bureau and payment solutions, Disaster recovery, Business continuity |
| Website | payinc |
PayInc (formerly BankservAfrica) is an automated clearing house located in Johannesburg, South Africa, serving both national and pan-African transactions.[1][2] It annually processes a significant volume of transactions, encompassing various sectors such as banking, corporates, government, and retail. Its role as Africa's largest automated payments clearing house is primarily attributed to its substantial transaction volume.[3]
History
The establishment of BankservAfrica originated from the need to unify shared services within the South African banking industry. Prior to its formation in 1972 as the Automated Clearing Bureau (Pty) Limited, various industry-owned companies operated independently in different payment channels. The transformation aimed to streamline operations, leading to the eventual rebranding as BankservAfrica in 2010.[4][5] In August 2025, it rebranded to PayInc.[6]
In 2025, the Competition Commission approved a 50% acquisition of PayInc by the Reserve Bank of South Africa.[7]
Shareholders
PayInc is entirely owned by South African commercial banks, with the following shareholders:[8]
- Absa Bank Limited (23.125%)
- FirstRand Limited (23.125%)
- Nedbank Limited (23.125%)
- Standard Bank of South Africa Limited (23.125%)
- Dandyshelf Group (7.5%), comprising:
- Grobank
- Bidvest Bank
- Capitec Bank
- CitiBank
- Investec Bank
- Mercantile Bank
- Teba Bank Limited
References
- ↑ "Key Role-players". http://www.pasa.org.za/national-payment-system/key-role-players.
- ↑ "About us". http://www.banking.org.za/about-us/associations-and-financial-institutions.
- ↑ "Bankserv Africa forges relationship with Strateʼs SWIFT Services – Strate". 2012-10-25. http://www.strate.co.za/blog/2012/10/bankservafrica-forges-relationship-with-strate%CA%BCs-swift-services/.
- ↑ "SA Reserve Bank's Overview of the South African national payment system". https://www.resbank.co.za/RegulationAndSupervision/NationalPaymentSystem(NPS)/Documents/Overview/Overview.pdf.
- ↑ "Bankserv targets African expansion". 2010-06-14. https://www.brandsouthafrica.com/investments-immigration/africa-gateway/bankserv-140610.
- ↑ Ndlovu, Nkosinathi (2025-08-29). "PayInc emerges as South Africa's national payments utility" (in en-US). https://techcentral.co.za/payinc-national-payments-utility/269322/.
- ↑ "Payments Ecosystem Modernisation Programme". https://www.resbank.co.za/en/home/what-we-do/payments-and-settlements/pem.
- ↑ [1]
External links
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