Are digital payments secure enough for the Indian economy to go cashless?

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Navyasriram said: (Jul 14, 2018)  
Yes, digital payments can be made in India but there is no necessary to go cash less. India being a developing country is included with different sectors of people. As we know that India is Farmers Country there are people who have only limited knowledge of the digital payments and they end up in choas. In addition to that being dependent on Internet of every transaction is not good. There are place where the signal strenght is low. If their is failure in the transaction then we need to be wait for recredit of the money to the account. Generally blind people used to calculate the amount of money by the touch of currency notes which is not possible in digital payments. Even to that there are many people who hack the sites and steal the money during transaction. In my opinion digitalization in India is good but I didn't mean that we should go cashless.

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Mannu Jha said: (Jul 14, 2018)  
The payments done via VISA or MASTERCARD is secured but that are not India based companies that means we are sharing the details with the international countries. Thus if people use services from Indian authorization system such as RUPAYcards we can have our data secured from foreign countries.

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Poo said: (Jul 14, 2018)  
India being a developing country has achieved so much since independence.

It has advanced in every field technology, medicine and what not.
But being the country with largest population in the world.
There are so many hindrances.
The illiteracy rate and poverty rate is still very high.
Going cashless means each and every person has to depend on digital payments.
The people on whom we are dependent so much. The sabziwalas, the kamwalis, guards, koodawalas, thela walas, rickshawalas and so many people. Who receive so little amount and number Of times will never be comfortable to switch to digital payments.

Even people in rural areas have no or very less knowledge about banking, internet and digital platforms.

India in 2018 has achieved 100% supply all over the country.

Such areas which have received electricity now will take few years to achieve full awareness and.

Such remote areas where we even don't have network connectivity.

Have impossibility to go digital.

Seeing this lack of awareness.

Such people can be easily manipulated and exploited.

The security of digital payments can be easily breached.

Although India has been successful in implementing secured payment gateways which protects us from malicious activities.

But out there are more knowledgeable hackers and fraudsters.

Who are doing the business of fraud.

By stealing the Pin numbers, credit/debit card details, Online password, one time passwords (OTPs).

By tracking and keeping log of your activities.

Through various malwares, viruses and cookies.

India has achieved what not, maybe in future it will be able to achieve 100% secured digital payments.

But at this moment it cannot switch completely to digital payments and go cashless.

The need of the hour is to spread more awareness and knowledge about technology and avoid scams and frauds.

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Sansi said: (Jul 14, 2018)  
Yes, digital payment is a good initiative towards the cashless economy it will reduce the manual workload and very helpful to reduce the crowd in the bank, The result will be that it not only reduce the manual workload but also helpful for the environment to save the tree. But there is small risk is that in India large population is not aware about the technology so we first we should to educate them about the technology.

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Ashish said: (Jul 14, 2018)  
Yes, I think it's fully secured and have certain benefits too :

1. Adapting these technology will surely make our nation increase our strength in global market.

2. People will surely adapt these kind of changes which leads to modernization of our country.

3. Reduce the risk of carrying a large amount of money.

4. Reduce any kind of risk in ATM crime.

5. Definitely people will rely on this technology soon.

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Vishal Jena said: (Jul 13, 2018)  
I think digital payment is better option rather than use cash on hand as in India people are very clever In some SBI banks people noticed the pin number and then it leads to problem when something awkward happening in their account so if we use digital payment we are free from cyber eyes or robbers as digital payment method will also increase our country's economy even labour work will be reduced if everyone become knowledgeable of digital payment method then people can do additional work with do payments online, and transection will be few seconds people also doesn't get worried about whether the money goes or not as this problem occurs in offline payment.

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Shubh said: (Jul 13, 2018)  
In few countries the transaction is only done by the cashless mode but the literature count of that country is high too. In India, majority of people even think 10 times before using the ATM card because of the less awareness. So before thinking about the digital payment, the people should be trained and aware of all online payments so they will feel confident to use.

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Mithun Nayak said: (Jul 13, 2018)  
It's not secure until everyone has the proper knowledge about it, it will take time but it is a good initiative I think.

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Rish said: (Jul 13, 2018)  
I think any payment has a risk some has less and some have high risk. If we talk about the digital payments then India is a developing country so it should try these type of things that would create more awareness about the technology to the other countries. It is not enough to secure but that was the starting if people work on this as a whole than only it will succeed to the country.

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Kshitij Sharma said: (Jul 12, 2018)  
I believe this is our move towards civilization. Considering Nationwide, this process is an opportunity for us to grow for real. It can prepare us for better tomorrow. As per the security is concerned, please let me know if we are secured now? Each individual contributing in this cashless economy must understand key fundamentals, risks and preventions. Everyone must get educated about it.

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Lavanya said: (Jul 12, 2018)  
Of course it reduces the risk of human to be afriad of carrying huge money with them.

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Parul said: (Jul 12, 2018)  
Only payments made through a recoganized platform can be termed as secure but the risk of theft or any other cyber crime still remains in the mind of a customer. Cashless economy is only possible if all the people belonging to the rural society are able to use it, the amount of illiteracy and poverty in India makes me think if every single individual in our country will ever be able to do cashless payments or not.

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Rahul said: (Jul 12, 2018)  
I think.

Digital payment is secure because many countries are using digital payment by country economy will increase.

To make Indians cashless firstly we have to educate them about what is digital payment and also briefly explain about it advantages by using it frauds will stop and there money will be safe and they can use it any time they want.

So, we have to make Indians cashless and use digital payments.

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Surya Ghosh said: (Jul 12, 2018)  
Yes, nowadays India is becoming a global power and to race with the other developing countries we must adopt the digital payments, it is true that many of the poor people of India will face a problem with it at the starting but if the govt will provide the perfect platform after some time they will well known about the process. I belong to a rural village and I have seen the change where people are not much educated but everyone is using a smartphone and use ATM they don't know much about the technology but they know the method to operate it. So I must think India will soon take initiative to launch digital payments on a large scale.

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Roshan Bagul said: (Jul 12, 2018)  
Yes, I say it is fully secured. If you can use proper way then you will never be facing a problem in. Before using it you should read all the Instructions. Nowadays according to previous experiences system has more improved and secured like as one-time password you always get on your register mobile number while transecting Or any other practices with a bank account. OTP will get on your register mobile after OTP matching they allow to proceed next. So, you don't share your personal data like as OTP.

Nowadays you no need to go in bank physically you can access your bank account at home by digital banking. In this case, you save your time Also access any time no time restrictions as banking hours. Also, you have to no need to carry cash anywhere.

Yes, I say it is fully secured. If you can use proper way then you will never be facing a problem in. Before using it you should read all the Instructions. Nowadays according to previous experiences system has more improved and secured like as one-time password you always get on your register mobile number while transecting Or any other practices with a bank account. OTP will get on your register mobile after OTP matching they allow to proceed next. So, you don't share your personal data like as OTP.

Nowadays you no need to go in bank physically you can access your bank account at home by digital banking. In this case, you save your time Also access any time no time restrictions as banking hours. Also, you have to no need to carry cash anywhere.

Digital payments is more beneficial for online shopping, you can choose a single product from many products by comparing cost and discount on it. If you pay online by digital payment then you get good discount to compare to cash on delivery. You can easily buy anything or ordered from your home by digital payment.

Also, digital payments have some drawbacks hackers steal your information from social sides as facebook, linkendin, orkut etc. The informations are date of birth, mobile number, pan card number, Aadhar card number etc. All bank account holders are linked their mobile number with a bank account. By using stolen document's they get another sim card of your number then they get OTP on your sim and steal money from your bank account. Therefore don't share your personal information to others and aware about fake and illegal sides.

Also digital payments have some drawbacks.

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Himanshu Vyas said: (Jul 12, 2018)  
I think digital payments is suitable because India is not single country that uses digital Payments there are lots of countries who uses that so I think digital payments is safe and secure and make an very much impact in India to go cashless.

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Priyanka V said: (Jul 11, 2018)  
There is nothing like whether it is secured or unsecured. It depends on how you execute it. It will be secured and successful if we plan well and execute well. There are many drawbacks of digital payments like security fraud, data theft, hacking, etc. But this drawbacks can be overcome. Firstly we need to educate poor and uneducated people about this and spread the knowledge throughout the country because we people know how to use it and how to manage it. But those people don't know. They find it difficult. Hence, we need to educate them first. These are some of the small things we need to consider. And then plan well and execute well. And it will definitely work out.

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Nandhakumar S said: (Jul 11, 2018)  
First of all every country says India is an cashless, because the reason is politician. So many people don't know to use ATM. Whenever cashless India are published, so many poor peoples are affected by this rule.

So, first, Go for free education then execute this rule.

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Avdhut Nalawade said: (Jul 11, 2018)  
According to me, if we provide knowledge of payments apps like Paytm, tezz it is a good one for our people to adapt the modern technology.

Carrying always cash sometimes it becomes risk-taking rather than if we create any wallet and provide some secured password it is good.

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Rambo said: (Jul 11, 2018)  
To add on, Digital economy has played a vast role in contributing to our society up-gradation. One of the major benefit is people are liable to engage to new technologies with keen to learn more and more about the latest techs. Like if we are moving to online payments or doing card payments then it is obviously good to use them more often as it is somehow enabling us to forgive cash burdens. While it is also making people to go quick in terms of saving loads of time.

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Ashish said: (Jul 11, 2018)  
On the other hand if we take the case of NFC payments then anyone could touch their payment card to your phone and a theft could be done.

I believe digital payments are not secure enough.

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Nikhil said: (Jul 10, 2018)  
I totally agree with Rajeev. The Digital payments are secure enough for the Indian economy to go cashless but also, it can not be ignored that numerous people in India do not know about this.

So, there must be a proper planning including providing knowledge to every citizen about digital payments and security regarding that can surely make the Indian economy cashless.

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Balaji said: (Jul 9, 2018)  
May be it possible but most of the people doesn't know about digital payment because of illiterate so they have to update some of the terms in digital not all the things.

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Yash Chopra said: (Jul 9, 2018)  
No, I don't think so that digital payments are secure enough. Because, especially for people who don't have much knowledge about digital payments, they might get thier account hacked.

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Rajeev said: (Jul 9, 2018)  
Yes, digital payments are more than sufficiently secure as per the standards of rules and regulation of government of India followed by payment gateway in India.

Once the printing note will be eliminated, all black marketing of note currency will be stop and depending totally on digital payments will surely Indian economy will far ahead.

Hence we can say digital payments are secure enough for Indian economy to go cashless.

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Akash` said: (Jul 9, 2018)  
Cashless is a very important concept but in India people are not used because they do not have proper knowledge.

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Anupam said: (Jul 9, 2018)  
In my point of view, this current scenario Indian economy growing very fast and people use digital payment options which many presents in the market like paytm, digiwallet, oxygen, credit card /debit card /master card many more option available. Due to fast improvement in Indian economy digital payment contribute much more people go cashless and done with online payment options but this current era Indian banking system"s atm runs on old version which can affect the whole system and problem occurs with it i.e. is to be being hacked by someone and control the data by ownself so banks came in danger. So for as security reason concern its need to enhance the old version which is installed in the atm systems and also in banking operations version need to be upgraded. Lastly, I say digital payment is more secure enough for the Indian economy to go cashless if their versions of OS are upgraded and enhanced.

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Adee10 said: (Jul 8, 2018)  
During demonetization, digital payments also a very big role otherwise it would be really very difficult for the people for having the cash by standing all day in a line leaving behind all the work.

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Adee10 said: (Jul 8, 2018)  
Yes, it is very much secure to go cashless as we can carry lot of money with us. Digital payment is not time-consuming its easy n can be done effortlessly. For eg; if we are not carrying enough money in our pocket n if any kind if an emergency arises then we can easily do digital payment without any effort. It keeps us away from the fear of thieves, dacoits. Since everything has pros n cons. So more security needs to be improved in digital payment to make people attract easily and it should be promoted to small cities to make them aware of it.

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Souvik Rakshit said: (Jul 8, 2018)  
In my point of view, Indian Government has taken a much effective step to go cashless and digitize Indian economy. Most of the developing countries of the world has already made their benchmark in digitisation. For the betterment of the Indian economy, no doubt it is a big thing.

But there are big disadvantages of the digital payments. Firstly, Speed of the Internet and server of many digital website portals gives terrible problem and transaction stuck.

Secondly, Cybersecurity is one of the main concern often Hackers hacks the password and they steal the amount.

Thirdly Many of the people uses digital payments become the victim of fraudulent.

India needs to develop their technology to provide a well secured digital transaction, as well as people, are needed to be awarded to resist that fraud. And I am very much confident that India will overcome these problems and be one of the most powerful economies in the world within some decade.

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Vidh said: (Jul 8, 2018)  
In my point of view, the digital payment is good and it takes less- time, manpower. But the steps to pay money should be created an easy way where both educated and uneducated people should easily understand.

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Ramjagannath said: (Jul 8, 2018)  
No, because digital scandals are being more popular nowadays than theft. It is easy for a person to look for another person's bank details than to look at the locker details. Digital payments can highly reduce the space and paper work but making the man lazy enough for this generation. Also digital payment has its own advantages such as making the transaction more easy but there is a high risk to lose the details to the intermediary persons.

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Akansha said: (Jul 7, 2018)  
Hello everyone.

We are here on a topic that digital payment secure enough for the Indian economy to go through cashless.

We all know the what is the population of India and besides that how much people are literate or we can say aware of these digital payments.

In India, we can't say that it won't be working it's actually working. We are having such a great IT sector for it's security. Now a days every person wants to move cashless without any fear. Many people faces the problem of lost money. Through this digital payment they will be free from carry money from one place to another.

We can't say that only a person having a smartphone can go through digital payment but also a person who is not having a smartphone can go through digital payment by their ATM cards, debit cards and many more. Through this we can also make cash India.

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Thakor Piyush said: (Jul 7, 2018)  
In India digital payment is good initiative, but still people are not much aware of that which increases chance of cheating.

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Arif said: (Jul 7, 2018)  
Yes, it is a good step but its time to go because there is not much educated.

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Vinod said: (Jul 7, 2018)  

It is secure, digital payments take an important part of country growth, And it saves time, paperwork, manpower. But in our country, it takes time to go cashless. Because not everyone that much educated.

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Mrinal Gupta said: (Jul 7, 2018)  
With digital payments, there is always a risk involved. The risk of data theft and we have seen the example of Cambridge Analytica. And moreover to that India has the slowest 4g net in the world. Every day we hear about the transactions being stuck in the middle, banks running out of connectivity etc. So hitherto the digital payments are not something we shall look up to. We can use the digital payments for paying a small amount but when it comes to transferring a hell lot of money, everyone wants a complacent gateway and digital payments are not providing it.

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Anshu Sinha said: (Jul 6, 2018)  
In my perspective, digitisation is very much secure and convenient enough to use by anyone. It makes you go cashless, and even blocking the black money concept. This is the big initiative of today's government, we should support them, for our country development.

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Bhaskar Kumar said: (Jul 6, 2018)  
Yes, digitization is a very good step towards security. It is a one step towards technology, but there is still much lack of awareness towards this, which will take some time to modernize people.

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Yuri said: (Jul 5, 2018)  
In my views, digitisation is making man lazy and all that we get is readymade. And also digital payments may create a chance for professional hackers to hack our accounts and this may create problems in the future. In short, digital payments are not that secure.

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Anshu said: (Jul 5, 2018)  
From my perspective, digitisation is secure enough for cashless payment but still lot of loophole exist in the whole system that needs much attention in order to improve the quality of payment and winning the trust of more people.

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Desai said: (Jul 5, 2018)  
Yes, Going cashless and using digital payment system is totally secured. It's saves time, paper works and manpower too. As we can see that the counties who are developed now are one of the digitalised nations like USA, Russia and China as well.

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Santosh Kumar said: (Jul 4, 2018)  
We know that every coin has two face like that digital payment has pro and cons. But digital payment is good because it reduce black money and so it helps to increase economy of the country. If you use digital payment then anytime you can know current status of account.

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Anomiii said: (Jul 4, 2018)  
In my opinion, digitisation is making humans more lazy day by day and in some aspects, digital payments are not secure because of the hackers. A brain can't compete with another brain I mean that all over the world there many professional hackers which are able to hack our bank accounts and something else and may create. Nowadays hacking is becoming a curtail.

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Nitin Shelke said: (Jul 4, 2018)  
In my point of view, Digital payments are secure enough for the Indian economy. Actually, digital payment is secure but the people feeling insecure with it because of their lack of knowledge towards its use. Many people finds the difficulty in their net connection, server slows down, forgetting pin n much more but they simply blaming to digital payment method, however, this inconvenience is totally due to their faults, sometimes the system issues. So simply I want to tell you that, we should understand the fact behind, unsure feeling towards digital payments, as they are very easy, less time consuming and really safe. Sometimes it's possible that anybody may face difficulty with it, even they did precautionary, so in such case just remember "Everything has an exception". Some limits, If we get flexible with it, then I don't think people may feel it unsecure.

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Sanj said: (Jul 4, 2018)  
Yes, digital payments are really good for our economy because using the cards, UPI, net banking all these modes are transparent and to use of these modes are so easily. All are more secure and used by each age of group people. All modes are promoting cashless India.

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Rahul said: (Jul 3, 2018)  
Yes, they are good enough to promote cashless economy in India & that's why many customers, shopkeepers (both small & large scale) are using them in both big and small cities. But, there is always a room for improvement & hence the digital payment system in India should be strengthened more so as to attract more people towards it.

This can be done by promoting the same in big cities, then small cities and towns by advertisements, street plays, social sites which will tell people the merits and usage of digital payments. Youth & children can encourage their elders towards this new step.

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Bhavana said: (Jul 3, 2018)  
Hello everyone!

Digital payments were best because you need not carry cash wherever you go and of course, carrying cash everywhere you go is not so safe too. As well many people still Don't have an idea on these digital payment methods, govt must take an initiative on conducting camps and educating people on the benefits of going cashless.

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Thanu said: (Jul 3, 2018)  
I think that in some cases digits payments are good if the aware of it and there one time passwords for every digital payment so it is not easy to trash any account we are becoming technical and made India as more knowledgeable right. For people who didn't know about digital payment, it is unsecured.

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Rishabh Saxena said: (Jul 3, 2018)  
Digital payments are secured enough or not is depend on hands of users.

There are two type of users:

1. Customer.
2. Merchant/Service provider.

If both of the users are aware then, in general, we can say it is safe but when we talk about the Indian economy, it is not safe because we don't have our own data servers on which we can store all the digital payments details and whatever payment details data we store in server those are mostly located in Europian countries or the US. So, if someone from somewhere attacks our data it will be very difficult to manage it because servers are located outside India.

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Amit Gupta said: (Jul 2, 2018)  
It's not about the security one should be concern of, even cash facility is not secure. There are many issues now as infrastructure access digital gap illiteracy unawareness, but It is the initiative on a positive note to create a corrupt free nation where black money and corruption are making their way to destroy the economy. I think It's a great initiative by Government.

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Anjani Tiwari said: (Jul 1, 2018)  
I think it's not safe anyone can access your account login password and you can't see him and now you all of using WhatsApp that you can see many offer links in what's app and the normal people don't so much aware on web about the entire details and they are misusing with that details.

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Manu Sharma said: (Jul 1, 2018)  
Hellow everyone.

I think it's a good initiative by our government There are a lot of perks of cashless payment. We get of rid of loose money problem that we usually faced in taxies and at ration shops, robbery problem by theif, burden of carrying money with us and so on. For the success of any policy, the thing matters is that how many people take advantage of that. In our county, the people in rural areas are not aware of these things. And not only in rural any person who is not aware of the security terms can do a mistake. Then they feel cheated. So, to make this great step to its peak govt should provide camps and campaign for telling the people how to use this, telling them how they can secure their transaction, how they can use it wisely and most important if anything wrong happen to them then they should never ignore that. They should file complaint in cyber crime investigation departments. Because if cyber crime is easy to done then it is also easy to catch the culprit. You just need to aware of your rights and your power. This awareness should be spread in our country so most of the people can easily and unflinchingly do digital payment and contribute in making our Indian economy cashless.

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Priyanka said: (Jul 1, 2018)  
According to my point of view, Yes, the digital payments are secured enough for the Indian economy to go cashless. I have these views because if we compare going with cash or cashless methods, there is more security with cashless methods. Everyone has their own passwords or pins which they have to keep confidential and secure to make payments. But there is still lack of planning in the implementation of this digital India concept. Because many people don't know how to make cashless payments and advertising on T. V or in posters won't teach them. Some people don't know the security policies or they don't trust the cashless online payments. Also, there could be the cases of forgery and robbery by hacking, and there are many such cases but they are very less in numbers as compared with cash involved cases. Digital payments make it very easy for many people to do payment while making a blunder for some other people. The government should plan more effectively to make India digital by providing proper guidance to people about the use of digital methods for payments.

I also think that digital payments have nothing to do with black money. Those who are involved with black money can do anything to secure their money until the government took some Strict action against them.

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Ritik said: (Jun 30, 2018)  
In my opinion, digital currency is better than cash money due to digital currency we have a profit we can carry a lot of money in the pocket so I feel like that it's a very nice step towards digital India.

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Suyash Agrawal said: (Jun 30, 2018)  
In my opinion, digital payments are not secured in INDIA as many people are not fully aware of the facts and usage of this method and govt is also not providing any campaign to resolve it, advertisements will not help in clearing doubts and enhance the knowledge of user rather govt should conduct seminars and workshops for better understanding. Digital payments are not secure since many a times server gets disturbed due to low signal connectivity which results in freezing of money of an individual which may affect the user. Also, digital INDIA is not too secure since forgery cases are too damn high as well as hacking is in its peak. To make it secure enough firstly all the measures should be launched and then digital payment should be instilled.

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Shashank said: (Jun 29, 2018)  
In my point of view, digital payments are secure enough as we all use ATM in that case we have given specific password which is only known to us so as that of cashless payments, in that case, we have to put a certain OTP which is provided to you and that is too applicable only for 30-60 sec. So it's a secure process as we see during demonetization period this cashless payment is very useful because at that time atm are fully dried. So during that time, various startups came into play. Which provides various features besides privacy although there are many cybercrime reports government is fully focussed on that and they are trying to control the crimes and nowadays government become more dependent on cashless payment because this can reduce the amount of black money and control the counterflow fiet.

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Richa said: (Jun 29, 2018)  
At present scenario, our prime minister Mr. Narendra Modi is applying his lot of effort to digitalize India. According to me, it's a good step for Indians as it is difficult to carry money to buy goods from another state and We know that nothing is perfect in the world so neither the digital payment is 100% secure nor the cash payment because in both the cases chance of robbery is same. In case of digital payment, robbery is done with the help of cyber system which is called cybercrime and in case of cash payment, there is a danger of thieves and robbers but when it is a matter of comparison then digital payment is better than cash payment, there is no fear of robbers and its security totally dependent on the user. If they don't share their password, OTP and ATM's pin code to anyone and use secure wi-fi connection then cybercrime reduced automatically and digital payment system become secure and successful in India.

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Rishabh said: (Jun 28, 2018)  
In My point of view, the digital payments are secure because we all use ATM and when to use ATM machine we are put the pin code and this code are only know me and my nearest family, and to use online payment then your mobile get an OTP on time password and this password is used in only 30to 60 seconds otherwise this not apply. Above small things of digital payments are secure but cybercrime is most danger in cashless payment but the government of India is think and work to prevent and remove this cybercrime and then to use cashless payments.

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Swetha said: (Jun 28, 2018)  
I think as of now it's no. We know cash to cashless is essential for the Indian economy to set the standard but in concern with the percentage of illiteracy in our country it's not secure And not everyone using a smartphone, even educated people are making mistakes by sharing OTP number and responding pop up messages.

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Rahul Kumar Yadav said: (Jun 28, 2018)  

I think that there are many hackers who can hack our data so when we feel that we are fully secured then we can do cashless payments otherwise it will be harmful to us and we can be lost our money. So, I cannot say that we do not do cashless payments but when we do it we do it very carefully to secure our money.

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Abhishek Kumar said: (Jun 27, 2018)  
Hello everyone,

I am in the favour of this topic, We can go anywhere and we don't have to think about money. Because ATM service is available in every place now. And we can do digital payments everywhere. And it's secure technique because everything is connected with the Aadhar card and we also use our phone no. To secure the account. And everyone should be aware of not giving pincode to any stranger person. So I think if we don't do these type of silly mistake then we can feel secure.

Thank you.

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Vishnu Vardhan said: (Jun 27, 2018)  
I support the statement of " go cashless". Digital payments are secure enough for the Indian economy unless otherwise mentioned: "you share your private information with anyone". Everyone is very foolish that they access the apps to read our messages. Everyone clicks the allow button which is an easy access for hackers to read our messages, to see our images etc, unless we are safe, nothing is safe.

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Ayush said: (Jun 26, 2018)  
The fact that digital payments have made our task very easy. Now we don't have to carry huge cash in our pockets, we no mere have to think about cash being stolen made us feel the necessity of shifting the whole system to didgital payment. But when it comes to security then we are really lacking behind. Even in the west security is not 100%. I have heard cases where money is being deducted from people account without their knowledge, accounts are getting hacked. Even the crime is also transformed from pick pocketers to cyber criminals which is even more dangerous. Another major concern is illiteracy where people are easily fraud by these hackers. So shifting complete system online will certainly leave us nowhere. So some major security steps are needed to be taken.

Rate this: +20 -3

Riyas M K said: (Jun 25, 2018)  
It is a fact, that digital payments are very easy and we can buy anything we want in online without any difficulties associated with buying the same thing from the market. But we cannot shift the whole economy from currency to cashless in a single day. You must have heard the saying that "Rom is not built in a day". It will take at least 50 years to shift majority of our economy from cash to cashless considering the facilities we have and the percentage of illiteracy in India. Coming to the point of security of online transaction, I don't think it is one hundred percent secure. Recently I have read news about incidents where hackers stole crores of money from banks. I have a personal experience of losing my money when I was depositing it to my account through a cash depositing machine. Even the bit coin which was claimed to be very secure was stolen, I know a news about a man who lost his bit coins when he was checking his bit coin balance by connecting to the wifi of a restaurant. It is true that the people who developed those technologies are intelligent, but we should not ignore the reality that the hackers are also equally brilliant. So we have rethink before jumping to this cashless economy, otherwise there is a chance of literally becoming cashless.

Rate this: +25 -3

Satya Ranjan Kar said: (Jun 25, 2018)  
According to my opinion, It's the not the perfect time to introduce cashless scheme in India. May be it has more impact on Indian economical developement but for common man it's too hard to manage. We all know that, there are more illitirate people are living in rural area. Even they don't know how to sign in a required one. Thumb is their only proof for any officials. If they want to buy a fish from their village fisherman. Then it will be more difficult to both of them to manage as they don't know what is going on in digital system. Indian will develope automatically and all digitalized schemes will be applicable, when the literacy rate in rural area will impove significantly.

Rate this: +2 -1

Dilip Arya said: (Jun 25, 2018)  

The digital transaction is secure enough in India and the major factor behind is a huge IT sector developing and flourishing in India (Banglore and Hyderabad). However, It is true that there is nothing absolute secure in Cyberworld but we can be ensured that "walls are high enough".

Beside this one more difficulty in putting India cashless is that still, a majority of Indian population live in rural areas where people are either illiterate or not aware of the security of digital money. So one can easily still money from their accounts so Government should first try to make aware them about how to make digital transactions, its benefits and security methods so they could also protect their valuable money.

Meanwhile, illiterate people can continue with hard currency transactions there should not be any force on them.

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Sara said: (Jun 25, 2018)  
I totlay favour the motion but I am more concerned about its safety.

At present scenario, not much theft is seen regarding online payment. It is going smooth. But privacy has always been a concern because nothing is 100% secure. With the AADHAR being mandatory in banks in our country, our privacy seems to be more vulnerable as AADHAR always remains in news for its privacy issues. Our government should take more responsible steps towards its security, then it would be worthy for the Indian economy to go cashless.

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Gitanjali Mehra said: (Jun 23, 2018)  
Yes, I am in support with the view that digital payment is secure for the Indian economy to go cashless because everything is so easy and confidential so that people feel secure and invest more in any good. Also, it's not only contributing in financial perspective but also from the social perspective the people from the village to the city are now more literate about the bank and its services and this will help to build trust in government and its policies. The incident of being theft reduce because of the transparency and accuracy in government services its all lead to a secure caseless system in India.

Rate this: +20 -4

Arunima said: (Jun 22, 2018)  
According to me, digital payments are secure for the Indian economy as it carries lots of advantages with it but to go 100% cashless is not advisable as a section of Indian population is uneducated and they hardly will trust the digital payments as secure until & unless there will be some programs be arranged to educate them however it should be such that those who want to avail the services of digital payment they should go forward while those who are not able to use they should be educated and it should be their choice to use or not.

Thank you.

Rate this: +25 -1

Heena said: (Jun 21, 2018)  
Considering the current scenario, neither the digital payments are 100% secure nor 100% Indian population can go for the cashless system. There is a lot more to do before making India completely cashless.

IT industry is booming in India undoubtedly. Security is making progress every minute, but the cashless system will also be that secure, when the whole country turns cashless, has no guarantee.

Another complication here is only 2.3 billion people out of 7 billion (the population of India) uses smartphones. It becomes too difficult for the rest of the people to use smartphones and we just can't say them to do their daily transactions in a cashless manner.

What solution I can draw is, initiating cashless system progressively can help to solve both the problems.

By the time, we start doing cashless transactions we will be able to find the how secure they are, simultaneously we have to first make India an Smart India.

India, where it's maximum population, can take the benefits of the technology.

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Zainab said: (Jun 21, 2018)  
Yes, Digital payments are much more secured form of payment than cash but every coin has two sides, In our country, most of the people are reluctant to go cashless yes this is the bitter reality governed by many factors like lack of awareness, fear of not knowing the process, no proper guidance and promotions plus illiteracy is an add-on to it. India has a diverse range of population some rely only on cashless transactions others don't have enough money to even arrange their two times bread and butter. So, yes going cashless is secured but those who don't have cash, who are thinking about them?

Thank you.

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Swag said: (Jun 21, 2018)  
Yes digital payments are secure for Indian economy to go cashless. Nowadays all payments are via 256bit encryption which provides high security. And even if transactions failed at one money is refunded to source account again.

Rate this: +3 -0

Ranveer said: (Jun 20, 2018)  
I would like to say that it is secure enough because of the huge IT industry paving the way in India. It has become a hub.

Though still ,we see India lags behind in total amount it pays through the digital transaction. It is because of behavioural change we don't want we feel we have money when we have hardbound currency in our pockets. Digital payment includes all the money we use in form of debit card, credit card, transfer through the account, payment through mobile wallets. Illiteracy is also a major challenge for digital India. The government and people should have to work together to increase the digital payments. However 100% cashless is also not safe there should be a balance between both type of payment so that we do not lose everything if sometimes like ransomware like wanna cry gets released.

Rate this: +16 -6

Varsha said: (Jun 19, 2018)  
YES, the digital payments secure more since they come under cards too, if stolen also we can save our money the best method of securing money is going through cashless.

Rate this: +10 -0

Mahesh said: (Jun 19, 2018)  
I think cashless economy doesn't mean being 100% cashless. There is more percentage of illiterate people and people who don't know to use a smartphone. So, thinking of making completely cashless within next 20 30 years is impossible and nonsense.

But also you should notice that cashless transactions don't mean only mobile banking. Even credit cards and debit cards come under digital payments. So if people begin to use these kinds of payment modes for daily transactions, small transactions like in retail shops, petrol stations, I think then we can say India is moving towards becoming cashless.

So the question, are digital payments are secure enough for India, I would ask if not India, then for which country these digital payments are suiteful? India has the best IT industry in the word. So India has already achieved significant achievement in digital payments. And it's already secure. But in future, when everybody starts using this, the present security may not be enough.

One more advantage of digital payment is personal safety. If you are carrying much cash, you will always have the fear of it getting stolen, But no such problem if we start using digital payments.

India has already made ADHAR must for digital payments. But I think that's not enough. As ADHAR has our data like a fingerprint, I think for each payment authentication using fingerprint should be made must. Now maybe not all smartphones has fingerprint, But in just 2 or maximum 3 years, every phone will have a fingerprint scanner. And we can use this to make digital payments more secure.

Rate this: +54 -4

Neetesh Maravi said: (Jun 17, 2018)  
Hi, the digital payment is good for the country and it progresses the country but all have the people are not aware of the digital payment so it's responsibility to all young students to teach everyone how to use the online payments. All the thing have two things one Postive and negative so if you are using the digital payment so it's drawback also but it's good points it's you have your money deposit safely in the banks so it when digital payment does not have so it very risky to all the people to Thief. I think the digital payment it's good for the country and its help to progress the country. Thanks.

Rate this: +12 -1

Sai said: (Jun 17, 2018)  
I think the digital payments are enough for an Indian economy to go cashless. We need to take some precautions to secure our money by doing that so we never share our confidential data to anyone. For an under developing countries like India consists of some uneducated peoples also, they don't know how to do transactions so that kind of peoples unintentionally they share the data. Coming to secure now a days all the companies are using cloud computing. Cloud computing provider connects different clients to single server so there is a chance of hacking the accounts.

Rate this: +17 -0

Akash Gupta said: (Jun 17, 2018)  
According to me,

Digital payments are quite safe because there are zero % chance that Bank never ask you debit card number or any other internet banking details etc. It is our responsibility to keep it safe from unauthorized person.

We don't have to share our internet banking details, or an OTP during online transaction to anyone. Government of India has provided an Unified Payment Interface (UPI) and BHIM for better and faster transactions. But, before we move to cashless, Government have to think about uneducated people who don't know about digital payment even they don't know how to use it. In this case Government has to provide information about digital payments to rural areas or uneducated people that will bring new change in their life. It will be the huge step for our Indian Cashless Economy.

Unlike cashless transaction, there may be a chances of damage with your cash or even robbed, so to avoid such things and to do go for Cashless payments.

Rate this: +10 -1

Arun said: (Jun 17, 2018)  
Alright, let me vent on this topic straight.

"YES! Digital payments are to a pretty good extent secure enough for our daily transactions" but with some CONDITIONS APPLIED. There are some basic privacy setups or some guidelines to be followed, there is a procedure to perform, if done rightfully it is not very likely to be hacked by anyone. The problem here is that we (as in the people of India) have trust issues, due to which we do not even want to get hold of a new technology or anything alien. People do not want to get out of their comfort zone, but we need to. Because moving ahead with new technology is basically progress. I mean, if we talk about ATMs. Frauds did occur with those as well. They still do. But did we stop using them. No. Right. At least the failure rate of digital payments is much lower than that of ATMs. We need to accept the new birdie in town with the same mindset.

I indubitably believe that in a country like India where we need huge celebrities like Mr Akshay Kumar or Mr Amitabh to teach us to use proper sanitary conditions, here trying to lure the people to upgrade to a smartphone from a "Dabba phone " was a huge milestone achieved by JIO.

Now, the only thing left is- The proper knowledge of how to use it and be secure is to be imparted to the users. Especially the new ones. Maybe not now, but once all the tiny its bits are achieved, soon we'd go cashless.

Rate this: +10 -0

Monty Saini M said: (Jun 16, 2018)  
There is some possibility to hack our account by hackers. It doesn't mean that we can't go cashless, but we have to take precautions when doing our online transactions. Like don't share our OTP to anybody, don't share our bank details, login id and password to any person. If we take precautions while making transactions then it's not harmful for us.

Rate this: +14 -0

Sabarish said: (Jun 15, 2018)  
Surely digital payment will secure Indian economy because many who are influenced by politicians will keep on increasing their property until they caught. But the fact is we are in the generation where there are many uneducated peoples, they will suffer much. So proper awareness before the system will also fail because of uneducated people.

Rate this: +2 -3

Leena said: (Jun 15, 2018)  
I don't think digital transactions are 100% secured because there is some possibility to hack our account by hackers. It doesn't mean that we can't go cashless, but we have to take precautions when doing our online transactions. Like don't share our OTP to anybody, don't share our bank details, login id and password to any person. If we take precautions while making transactions then it's not harmful for us.

Second thing is that the peoples who are educated and afford the smartphones can make digital transactions but some are unable to do it because of lack of knowledge or they can't afford. So the responsibility of our government is that to make awareness of digital transactions to the people and provide more suitable banking options to them who are not afford smartphones.

As per my knowledge, I don't think that there is any difference in a cashless transaction in the urban and rural area. Because if you have smartphone and you are educated then it doesn't matter where you are. Even some rural people can make digital transactions accurately but urban peoples can't.

Rate this: +30 -0

Ankit said: (Jun 15, 2018)  
Digital Payments are of course secure unless they are done wisely. In india, there is a strong need of spreading awareness about using internet as a medium to pay.

Rate this: +13 -2

Kumar said: (Jun 14, 2018)  
In India, many computerized data are under the threat of Privacy and security, even your Aadhar card is not well secured then How we can say that digital payment system will not be under the threat of security.

If it would be so easy then people do it directly without asking the government for cashless. People go with the system which is easy to implement. I want digital payment secure but I think it is not possible for India as for as now, where some urban don't know how to withdraw an amount from ATM.

Rate this: +4 -5

Lalitha Ch said: (Jun 13, 2018)  
Hai friends.

Yes, digital payments secure enough for the Indian economy to go cashless. So that no one can theft our bank details or any other information about your bank and all. And black money will be reduced. It will be good if digital payments are come to use before that government should make the people aware about the digital payment otherwise uneducated people will face many problems before implement the digital payments government should be made them aware about this.

Rate this: +14 -1

Bhanu Pratap Bose said: (Jun 13, 2018)  
Hello everyone,

According to me, the cashless transition is quite safe there are zero % chances that your bank will relieve the transition details to anyone. Banks never ask for your debit card number or internet banking id or password so it's our duty to keep it safe although we have to change our password frequently and never share our otp with anyone at any cost. Govt of India has made Unified payment interface (UPI), Bharat Interface for Money (BHIM) etc for better and faster transition. But it is true that we are lacking behind as more than 50% of your country population belongs to the rural area where they don't know about the cashless transition although govt of India has taken the Jan Dan Yojana, but most of the banks don't have money in their account so it will not be possible for them to do the transition. Unlike cashless transition there are chances that you may be robbed with your cash or the cash may be misplaced or even can be damaged to avoid such things its good to go for the cashless transition!

Rate this: +19 -1

Himanshu said: (Jun 13, 2018)  

According to me, if you talk about the current scenario or you can say the condition of our nation we are not at our best at this technical and smart life. Of course digital payments are secure but only when, if you are very good at it or you can say when you have a good knowledge of it because a large amount of our population even our mom dad are not that much advance.

Rate this: +6 -4

Rohith said: (Jun 12, 2018)  
In my point of view,

Digital payment is very secure and easy way of transaction but in India 100% cashless transaction is highly impossible why because in India so many people don't know the digital service, some people know only how to do the online transaction, but in case of any problem (minor problem) is there they don't know how to solve that problem. Only who knows the technology they will do digital payments easily. This issue mainly happens in the rural area.

Now come to the metro cities and towns,

These people don't bother about the pickpockets. But they bother about the HACKERS. This is the main problem in this areas.

Rate this: +9 -1

Hiya Bhandari said: (Jun 11, 2018)  
The need of the hour for the Indian economy is to go cashless. But 100% cashless Indian economy still remains a dream because India has a lot of population which is living below the poverty line. They struggle every day to make their ends meet and to sleep with the filled stomach. For them, smart phones and internet, a must for digitisation, remains an out-of-pocket dream. Even if everyone gets access to smartphones and internet, they are not properly educated and enlightened enough to make transactions by the digital mode. This will rather make them more prone to the digital frauds answer once subjected to fraud the faith in the digital payment system is breached forever. Money to them, even us, is the dearest thing. They can't afford to let go of their money in these digital frauds. Despite so many digital payment apps and services available, the security of transaction to the customer is not hundred percent assured.

Let's not go far. My housekeeper cannot even afford to recharge her bar phone. Smartphone and internet is a luxury to her. For her even one rupee is precious. She neither knows how to make payment digitally; nor she wants to shift to a cashless economy. A cashless economy is one of her worst nightmares.

On the contrary, educated and the well-off population can contribute to the success of the digital payments. They are less prone to digital frauds. They prefer digital payments over cash transactions because of the inherent benefits of the digital mode. Still, the picture is not so cheesy for the educated class as well. Even some of the well to do population prefers cash over the digital transaction.

To be honest, I do not prefer to make online payments of bills or do online shopping. Rather, I prefer to physically go to the shop and make payments via cash. I refrain from digital transactions as far as possible.

In a nutshell, I would like to conclude that despite the need for the Indian economy to go completely cashless, our country is only partially ready for the same.

Rate this: +34 -6

Ranjit said: (Jun 11, 2018)  
Yes, of course, it is secure but the condition is that we should use a browser like Chrome Firefox that will help to secure payment method.

Rate this: +6 -7

Anuradha Singh said: (Jun 11, 2018)  
In my opinion, every thing comes with pros and cons, digital transactions are no doubt helps you go hassle free as it would help you save your time to stand in queues at the bank, plus you always get an OTP on your registered mobile number to secure the payment. Tragedy can happen even if you are doing a cash transaction, for instance there have been people who have encountered snatching of there belongings. It's just that you need to be vigilant and careful enough when it comes to your money be it digital or cash transaction.

Rate this: +10 -0

Poojaa said: (Jun 10, 2018)  
This is actually a very good question for GD.

Digital payments in India has both advantages and disadvantages. Many of them say that the online transactions are not secure enough. But they are very much protected unless people share their private details. The recent incident was that a woman shared her OTP, passwords and everything to a person. And he robbed her money from her account. So the people who are not aware of these kind of payments are better not to use them. Coming to other situation, if we want to transfer money to a person who lives in other town, where he needs money for an emergency operation. If the day you were going to transfer is a holiday for banks or you need to stand in queues to get your turn. You can't keep a persons life in danger. So in these cases the digital payments play a very crucial role. We can instantly transfer money to his account.

So, from my point of view, India is still a developing country. Now in the present situation, we can't depend entirely on digital payments. But in future, I am pretty sure that we will see our country using only digital payments.

Rate this: +16 -5

Pradip Survashi said: (Jun 10, 2018)  
Hello Friends,

Yes, The digital payment is secure. Because of all of payment gateway sites saving your information as the encrypted format so hackers can't be hack easily. Even all payment gateways not using the same server to save user data. But sometimes if the user doesn't have any idea of digital payment then first he needs to learn this. The most benefit of digital payment is you can save your time and some websites providing cashback options so we can save money also. And most important to know everyone about your OTP, some application automatic reading your OTP from inbox message and inserting those applications so avoid this functionality that can be fraud. Don't give any ability to read our third-party OTP like from VISA/MASTER CARD/AMERICAN EXPRESS.

The following points indicated the improvements of digital Payment:

* If we go in the past year 2015 we can see the ratio of online payment is like - Online Payment 20% - Offline Payments 80%.

* If we go in the year 2018 we can see the ratio of online payment is like - Online Payment 60% - Offline Payments 40%.

* If we will go in the year 2022 we can see the ratio of online payment is like - Online Payment 90% to 95%- Offline Payments 10% to 5%.

So for bankers need to think about villages because of the peoples who are living in small villages they don't know about cashless applications. So for bankers need to Install some small many banks in small villages.

And Yes, that will be done in coming few years.

Rate this: +14 -1

Vineet said: (Jun 10, 2018)  
Hello everyone,

See Technology is something which should help us in a way but these online transactions are risky as all people are not educated and mainly the people from villages would face a lot of problems as they are unaware of these smartphones and secondly the threat of hacking. As today, in this world the cybercrime rate is more than normal crimes, so there is always high rate of threat for the uneducated and thirdly in online transactions we lack man to man interface but we have it in the banks, and when we are on a transaction and suddenly the powers go of the boon. The whole transaction is gone and again we should type all the details. You can say that it instantly transfers money but we do have other techniques like speed post and etc. I don't say that these online transactions are completely useless but they are useful only up to a limit.

Thank you.

Rate this: +5 -2

Neha said: (Jun 9, 2018)  
My opinion is digital payment are secure as well as nonsecure also, because it is easy to access the money but some time are not secure.

Rate this: +6 -15

Rajesh said: (Jun 8, 2018)  
No, nowadays digital payment is an advantage. Easily transfer one person to another person.

All digital transaction server are highly secure to run. There have provide OR arrange one-time-password (OTP). Any transaction update are send secret OTP send owner mobile.

Rate this: +8 -1

Leo said: (Jun 8, 2018)  
As per my decision, the educated people can go through it easily but about the people you have cash, I don't know to transfer it as soon be possible.

Rate this: +4 -3

Ajay Bhatiya said: (Jun 8, 2018)  
According to my opinion, it is not so good as we see in daily life the theft by hacking and if we do the payment methods online then we can conclude that any employees have to leave their jobs by which the unemployed person increases which is very harmful to our country.

Rate this: +4 -8

Sanskrit said: (Jun 7, 2018)  
Hello friend.

I think the digital payment is not secure a lot for the person who does not know about the process of the working of it, it will prove very helpful to the people who are well aware of the technology and also help to the progress of our country, we have very small problem like good availability of internet speed and to aware the people who not know about it, by doing this thing we can adopt cashless mindset very easily.

Rate this: +4 -2

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