The inclusion of Payne is one of ten changes and two positional switches to the side that lost to Zebre in Italy last weekend.
Louis Ludik, Andrew Trimble, Payne and Paul Marshall all come into the backline, with Tommy Bowe switching from the right wing to the left.
Up front, loosehead Ruaidhri Murphy starts his first competitive match for Ulster, as does Hughes Insurance Academy lock Alan O'Connor.
Captain Rory Best returns to the side at hooker, with Wiehahn Herbst returning at tighthead.
Franco van der Merwe continues in the second row, while in the back row Robbie Diack returns at blindside, Chris Henry comes in at openside and Roger Wilson switches from blindside to Number 8.
Forwards, Rob Herring, Andrew Warwick, Bronson Ross, Lewis Stevenson and Nick Williams are named on the bench, as are backs Michael Heaney, Stuart Olding and Darren Cave.
More than 15,000 tickets have been sold for the game with the Premium areas, the Memorial End Stand and the East Terrace now sold out.
To purchase remaining available tickets and to select your area, please click here.
Tickets will be available to purchase on the gate from 6pm on match night, however these will be restricted to one terrace only and therefore pre-purchasing is strongly advised.
The game will be live on BBC 2 Northern Ireland.
Ulster team to play Edinburgh, Kingspan Stadium, Friday 3rd October (kick-off 19:35) - live on BBC 2 Northern Ireland:
15. Louis Ludik
14. Andrew Trimble
13. Jared Payne
12. Stuart McC Ioskey
11. Tommy Bowe
10. Paddy Jackson
9. Paul Marshall
1. Ruaidhri Murphy
2. Rory Best (Captain)
3. Wiehahn Herbst
4. Alan O'Connor
5. Franco van der Merwe
6. Robbie Diack
7. Chris Henry
8. Roger Wilson
Replacements
16. Rob Herring
17. Andrew Warwick
18. Bronson Ross
19. Lewis Stevenson
20. Nick Williams
21. Michael Heaney
22. Stuart Olding
23. Darren Cave
Guinness PRO12
Suite 208, Alexandra House,
The Sweepstakes
Ballsbridge, Dublin 4, Ireland