{"id":839607,"date":"2025-10-10T14:49:29","date_gmt":"2025-10-10T12:49:29","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=839607"},"modified":"2025-10-10T14:52:10","modified_gmt":"2025-10-10T12:52:10","slug":"payinc-a-bold-step-for-utility-payments-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/industry-news\/839607\/payinc-a-bold-step-for-utility-payments-in-south-africa\/","title":{"rendered":"PayInc \u2013 a bold step for utility payments in South Africa"},"content":{"rendered":"\n<p>PayInc, formerly known as BankservAfrica, is spearheading a bold move toward a more secure, inclusive, and digital South African economy.<\/p>\n\n\n\n<p>Under its new name, PayInc is renewing and increasing its commitment to broad-based collaboration, innovation, and accessibility in the payments landscape.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.payinc.co.za\/?utm_source=Broad+Media&amp;utm_medium=Article&amp;utm_term=October+2025\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Click here to learn more about PayInc.<\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<p>\u201cPayInc\u2019s purpose is clear \u2013 deliver digital payment solutions that serves everyone,\u201d said Ruhling Herbst, Strategy and Transformation Officer at PayInc.<\/p>\n\n\n\n<p>\u201cOur focus is on providing affordable, safe digital alternatives that facilitate economic activity while promoting opportunity and participation for all.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Bridging South Africa\u2019s dual economy<\/strong><\/h2>\n\n\n\n<p>A key focus for PayInc involves bridging South Africa\u2019s unique dual economy, which comprises a formal sector deeply entrenched in digital payments, and an informal economy reliant on cash.<\/p>\n\n\n\n<p>One of the key goals of PayInc is to develop an inclusive, digital payments ecosystem that bridges the gap between these closed economies for the benefit of all South Africans. &nbsp;<\/p>\n\n\n\n<p>\u201cOur mission is to bring true utility to digital payments \u2013 to make solutions like PayShap as accessible, practical, and trusted as cash itself,\u201d said Herbst.<\/p>\n\n\n\n<p>To achieve this, PayInc is targeting five key sectors over the next two years where it hopes to grow the use of PayShap:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Retailers (formal and informal)<\/li>\n\n\n\n<li>General supply chains<\/li>\n\n\n\n<li>Corporates<\/li>\n\n\n\n<li>Government<\/li>\n\n\n\n<li>Non-bank financial entities (like fintechs)<\/li>\n<\/ol>\n\n\n\n<p>PayInc believes targeting each of these sectors can play a crucial role in expanding digital payments access and creating a secure, efficient and interoperable ecosystem, in line with the shifting regulation and national focus on digital transformation.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Benefits beyond convenience<\/strong><\/h2>\n\n\n\n<p>The shift toward accessible digitised payments carries significant benefits for both the economy and individual consumers.<\/p>\n\n\n\n<p>\u201cWhen all roleplayers transact on a single, inclusive platform that supports instant payments, we unlock economies of scale that lower costs and increase accessibility,\u201d said Herbst.<\/p>\n\n\n\n<p>This backed up by global data, which has repeatedly shown that faster digital payments are directly linked to GDP growth.<\/p>\n\n\n\n<p>For everyday South Africans, this means improved access to affordable financial services, the ability for the previously unbanked to build credit histories, and new opportunities.<\/p>\n\n\n\n<p>When it comes to innovation, PayInc is investigating and implementing ways to support emerging technologies \u2014 from QR-based transactions to stablecoins.<\/p>\n\n\n\n<p>Throughout this process, PayInc is steadfast in the belief that innovation should not be done for the sake of it, but to solve real problems.<\/p>\n\n\n\n<p>\u201cOur goal isn\u2019t to compete with new technologies, but to co-operate with them \u2013 ensuring that as these innovative solutions grow, they remain interoperable rather than fragmenting the market,\u201d said Herbst.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Collaboration for a connected economy<\/strong><\/h2>\n\n\n\n<p>\u201cPayInc sits at the intersection of both the public and private spheres \u2013 uniquely positioned to bring these worlds together and build the momentum needed for true national digital inclusion.\u201d<\/p>\n\n\n\n<p>PayInc\u2019s evolution marks a pivotal step in South Africa\u2019s journey toward a more connected, digital economy \u2013 one that empowers citizens, supports businesses, and drives national growth through inclusion, innovation, and collaboration.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.payinc.co.za\/?utm_source=Broad+Media&amp;utm_medium=Article&amp;utm_term=October+2025\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Click here to learn more about PayInc.<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Digital payments are the future for an inclusive and active economy.<\/p>\n","protected":false},"author":57,"featured_media":839611,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10459],"tags":[23495],"class_list":["post-839607","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-news","tag-payinc"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/839607","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=839607"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/839607\/revisions"}],"predecessor-version":[{"id":839618,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/839607\/revisions\/839618"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/839611"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=839607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=839607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=839607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}