Buycost2cost uses UPI (The Unified Payment Interface) payment method.
WHAT IS UPI?
You can think of the Unified Payment Interface (UPI) as an email ID for your money.It will be a particular identifier used by your bank to pass cash and make payments using the IMPS (Immediate Payments Service). IMPS is quicker than NEFT and allows you to
Quickly pass money. It is easier to do.
.
WHY UPI?
As UPI is easy and handy and there are no extra gateways charges in this, we prefer not using the other payment methods (Debit/Credit cards) because it takes extra 2% gateways charges and we don’t want you to incur that amount. That’s why UPI is the better and easiest way to complete your order.
HOW UPI WORKS?
Currently, you have to enter your account number, account form, bank name and IFSC code to make a bank payment online. Even if you have all these details, it is a painful process to type it all in, particularly on a telephone. It takes up to 12 hours for most banks to add a new payee and only then will you make the move.
The idea behind the UPI is to eradicate all this. The interface will allow bank account holders to send and receive cash from their smartphones without entering bank account information using only their unique Aadhaar identification number, mobile phone number or virtual payment address.
COST & TIME EFFECTIVE
UPI operates better than IMPS and NEFT payment methods if you transfer money instantly to another UPI account holder. You must know the bank account number and the IFSC in NEFT. You don’t need to do so if you are making purchases on the UPI website. As many as 100 banks have put UPI-based facilities on their scheme as of now.