₹500 and ₹1,000 notes on November, 2016 that led to a temporary shortage of cash in hand. This gave further kick to payments via point of sale (PoS) machines and led rise and popularity of mobile –based payment options such as wallets and real-time payments system Unified Payments Interface (UPI).In October last year, transactions via the three-and-a-half year old instant payments system UPI recorded a fresh high of 1 billion transactions.