Stephen Linnell

Chief Executive Officer, PayInc

Stephen Linnell is Chief Executive Officer of PayInc.

PayInc, formerly BankservAfrica, is South Africa's payments clearing house and the developer and manager of the PayShap rapid payments platform. The Reserve Bank took a 50% stake in it in November 2025.

In the job

  1. Said the Reserve Bank's planned 50% stake would make PayInc no longer an outsourced utility for the banks, after the Competition Commission recommended approval without conditions. Source

  2. Led PayInc as the Reserve Bank completed its 50% stake, with Capitec and Investec also subscribing as direct shareholders. Source

Sources

  1. techcentral.co.za
  2. techcentral.co.za
  3. techcentral.co.za

Facts last checked 3 November 2026. Spotted something out of date? Tell us.

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