Demonetisation changed India's cash habits? Not quite, but UPI a big hit

The digital payments platform that has clearly made giant strides since the note ban is the Unified Payments interface (UPI) which was launched in August 2016

Joginder Sharma, who owns a small textile dyeing unit in Panipat, Haryana, bought a point-of-sale (PoS) machine, learnt how to operate a mobile wallet and make electronic fund transfers just two years ago. For three months after demonetisation, Sharma did business via every possible digital means. However, as cash made its way back into the system, Sharma too resorted to his old ways.

“Cash is easier to handle, people get paid then and there. No one likes to carry cards around here. We get paid in cash and we prefer to pay in cash as well,” he says.

Sharma is