Payne will form an exciting new centre partnership with Robbie Henshaw, while Ulster colleagues Chris Henry and Tommy Bowe will also start against the Springboks.
Paul O'Connell captains the side and is joined in the engine room by Devin Toner. The backrow is made up of Henry, Jamie Heaslip and Peter O'Mahony. The front row sees Jack McGrath and Mike Ross pack down either side of their provincial teammate Sean Cronin, with Ulster captain Rory Best ruled out because of injury.
Conor Murray and Johnny Sexton are re-united at half-back and Bowe returns to the team for the first time since last year's Guinness Series. He joins Simon Zebo and Rob Kearney in the back three.
There is plenty of impact on the bench with Richardt Strauss, Dave Kilcoyne, Rodney Ah You, Mike McCarthy and Rhys Ruddock providing cover for the pack and Eoin Reddan, Ian Madigan and Felix Jones covering the outfield.
IRELAND v South Africa, Saturday 8th November 2014, 17:30, Aviva Stadium
15. Rob Kearney (UCD/Leinster) 55
14. Tommy Bowe (Belfast Harlequins/Ulster) 54
13. Jared Payne (Ulster) *
12. Robbie Henshaw (Buccaneers/Connacht) 3
11. Simon Zebo (Cork Constitution/Munster) 8
10. Johnny Sexton (Racing Metro) 45
9. Conor Murray (Garryowen/Munster) 28
1. Jack McGrath (St Mary's College/Leinster) 10
2. Sean Cronin (St Mary's College/Leinster) 35
3. Mike Ross (Clontarf/Leinster) 41
4. Devin Toner (Lansdowne/Leinster) 17
5. Paul O'Connell (Young Munster/Munster) 94 CAPTAIN
6. Peter O'Mahony (Cork Constitution/Munster) 23
7. Chris Henry (Malone/Ulster) 16
8. Jamie Heaslip (Naas/Leinster) 67
Replacements
16. Richardt Strauss (Old Wesley/Leinster) 4
17. Dave Kilcoyne (UL Bohemians/Munster) 10
18. Rodney Ah You (Corinthians/Connacht) 1
19. Mike McCarthy (Lansdowne/Leinster) 15
20. Rhys Ruddock (St Mary's College/Leinster) 3
21. Eoin Reddan (Lansdowne/Leinster) 55
22. Ian Madigan (Blackrock/Leinster) 10
23. Felix Jones (Shannon/Munster) 6
*Denotes uncapped player