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

Group Discussion

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Gopi said: (Dec 6, 2018)  
Digital payments save time, energy as well as paper. There is no need to carry liquid cash to everywhere which reduces the tension of theft. No need to waste our time in banks as we can do all transactions within a minute all by ourselves. There may be a problem of hacking which is to be overcome by providing advanced cybersecurity. Special departments and laws should be set up to reduce cyber crimes. As per current statistics, only 33. 2% of the population comes under Urban category what about the poor people they don't have the education or good network to get used to digital payments. Proper education should be provided and all fears and doubts on digital transactions are to be cleared in rural areas. The government, students, banks and, media all should come together to bring a change.

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Abhinav Jha said: (Dec 3, 2018)  
Yes. I agree that digital transactions are secure and there are so many benefits attached to it but instead of cashless economy, I would rather suggest for less cash economy. We can't ensure that everybody in the country will get used to digital payment. So small denomination currencies should always be in circulation so that people in the rural areas and older people can transact easily.

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Pradeep Vg said: (Nov 16, 2018)  
I think the digital transactions s necessary for our country. it reduces the time and also we can do transactions at any place and time, all those UPI banking apps are encouraging by providing cashback offers through OTP so that we can have extreme protection for our transactions. but this is only suitable for educated people. some anti-Indians are made use of this illiterate peoples and get their bank details and cheat them. so the government and banks should give proper awareness to peoples on online transactions.

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Min said: (Nov 14, 2018)  
Yes, they are secure enough and even more security is provided to it using the OTP concept that until we don't put the OPT the transaction is not completed so even if a hacker tries to do it that won't be possible without the OTP. Coming to the rural areas they need education for it and government should lauch such programs to spread awarness about the digital payments or sessions should be conducted on it and training should be given to performing the digital payments.

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Megha said: (Oct 23, 2018)  
According to me, the digital payments are not secure enough for the Indian economy to go cashless. As it needs proper technology, awareness, knowledge, connectivity and in the country like ours connectivity is very poor although jio has reached to a great extent still all the rural area has not developed yet and also digital transaction can be failed, can lead to money loss to that person who is in urgent need of it and his cash is faltered.

So, prior to digitalisation, India needs development of rural area so that they can also use it properly and also it needs a good amount of trust. i.e the transaction can be cashless if it is not faltered between.

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Ramesh said: (Oct 15, 2018)  
The Cashless Indian economy, rather quoting cashless I would rather say less cash economy. 31.16% is the urban population of India, the urban population rapidly get used to e-wallets, netbanking and other digital payments but what about rural areas.

Coming to the safety, the actual online transaction is 128 bit which is the second most secure with compared to 256 bit. Initial the use of digital payments was so low because of the fear of hackers hacking our bank details. But as the time change, the present generation is rapidly getting used to it. Eg: Paytm which had come out with an idea of online banks.

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Krishna said: (Oct 12, 2018)  
Yes, this is a time to make India cashless. Nowadays, there are so many digital platforms like Bhim, Paytm, PayU etc will save our time in banking transactions. In earlier days we have to stand in long queue to perform banking operation and it has to take a long time to proceed. My point of view we have otp and right click will go to operates accounts and we have apps like bhim, paytm, goole pay etc.

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Shobhit said: (Oct 11, 2018)  
Yes, I can say that but I saw one thing I saw many cheaters are doing their work very clear like they were sending one link and written in their please link on this link to see your bank detail and when we are clicking within a few second one message were come on our phone is 35k is deducted from your account so there is a big drawback of digital payment so if you are doing digital payment do but never save your card on any application for the frequent payment and I can say one thing that by only digital payments bank load is also reduced and in previous year if we want to do send money to other bank account or if we want to withdraw cash then we will have to stand in a queue for 2-3hrs and in nowadays we just enter amount and click money will be sent within a second. So, we all know that if there is some advantage then there is some disadvantage also.

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Shrushti Gite said: (Oct 7, 2018)  
Yeah, I am agree India can go cashless as we know that earlier days we have to stand in bank and for 2-3hr waiting to transfer money, transit money but the time for doing this is too much and on the other hand digital India will have online transaction in which we can operate all types of payment with our mobile having internet connection.

As we all think that it not secure but in my point of view we have ltp and only right will going to operate account and we have apps like Bhim, paytm, google pay etc thus I wanted to say we have to take one step forward and support for the casheless transaction.

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Priyaedwin said: (Oct 4, 2018)  
Digital payments saves our time and energy but not secures our money though it is a way of developing our country sucurity issues are main idrawback of this method and I think that this method not well go with illutrate peoples and this will not siuts our economy.

Thank you.

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Sangeeta said: (Oct 2, 2018)  
Yes, this is a time to make India cashless. Nowadays there are so many digital platforms like bhim, paytm, payu etc will save our time in banking transactions. In earlier days we have to stand in long que to perform banking operation and it has to take long time to proceed. But through this digitalization one can enjoy the banking operatios within a fraction of seconds. Even though there are some threats like hacking its good way to make India cashless.

Thank you.

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Prashaht said: (Sep 28, 2018)  
We know that online payment is easy but it is not as secure as we think, we have to fallow right instrection and must be sufficient knowledge of about onine tranjection. When we use online tranjection we have to be active and don't be careless at that movement when we doing that. If we are carless on during online tranjection your account detais can be easly hacked by a hacker.

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Shivani said: (Sep 23, 2018)  
According to me, yes digital payment is enough for our economy to go for a cashless economy as we know that every company is devoting their most of the time on increasing their security level and mishappening can be done anywhere, it does not mean we will not move forward so this is the time for us to go for cashless economy.

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Ravi Ranjan Kumar said: (Sep 21, 2018)  
Yes, of course, it is. Now a days we have moved very far away regarding digital payment, I still remember that day when we have to go bank and stand in que to send money to someone and bank staff used to tell that it will be processed after 2-3 hour.

Now you can imagine we have paytm, Google pay, phone pay they all use UPI method of payment it takes only seconds to transfer money. And it is transparent, you can track transition history, it just not saved our time, No tension of getting theft, you can keep lakh of rupees in your pocket and Saved tree as there is no cash involved.

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Sohan Prasad Bhatta said: (Sep 19, 2018)  
Digital payment is the easiest way and less time-consuming way to do our payments. Digital is the best thing of today scenario. There is a little bit problem with security but nowadays we have our phone security. As we know that this phone OTP is the best secure and no one hack. So in my point of view, the digital payment is the best way for the development of the country as well as people.

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Ash said: (Sep 19, 2018)  
Hello friends,

Digital payment is one of the method where we can easily do the payments through internet using mobile.

Nowadays everybody is using mobile for the payments like we use Tez, phonepe, paytm. We can easily do the payments without standing in line in the bank. But is this secure? We can easily do the payments without standing in line in the bank.

But we know there are so many hackers around us anytime they can hack our account. Within a second whatever we worked hardly and earned money can go.

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Lakshmi said: (Sep 18, 2018)  
In my point of view, digital payments are secure to Indiana economy, it is very easy to translate or receive. But if there is some amount of money with us then it is easy to buy anything where there is no facilities.

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Madhumita Dey said: (Aug 27, 2018)  
I would like to differentiate both the scenarios in order to showcase my point of view. Cash in hand make it easier for all to know what we are spending how much we are spending and to whom we are sending and to verify instantly that the person is receiving the same.

Whereas, If Indian economy go cashless with the help digital payments method it can't be 100% secure. First of all one should have the the knowledge and technology as well as proper equipment in order to opt this method.

I would like to tell all of a story in brief. My school opt this method of digital payments and all the parents's are told about this transaction method and many opt it. After a few days the news came out from the school that they are not receiving the money that parents have already paid for there pupils. Some hackers have hacked the schools transaction process and have robbed. In this case, what do you think can be questioned? Security right? but, the schools says it was secure.

Digital payments undoubtedly made it easy to carry your bank with you any where and everywhere. But, it is not 100% secure and can be gibberish for many citizen of India.

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Seema said: (Aug 26, 2018)  
In my point of view, I always suggest upgrading the technology, in order to compete with other countries digitalization of India play a prominent role. According to me no thing is exist without advantages and disadvantages.


1. With digitalization all work can be done very easily. Because nowdays all are having the knowledge of smartphone usage so money transaction or any other work can be made by sitting in home itself.

2. The main reason why we prefer digitalization is TIME. All are trying to save their time because it is as equal as money nowadays.

3. Corruption is the major fact why our India is not grown still now as we expected so by digitalization corruption can be controlled as it contains the full electronic lists of money transaction in the database.

4. As various strong cryptography technics and algorithms like SHA-1 are applied they are secure and not that easy enough to crack.

5. Safety is also achieved by digitalization because all our data is stored in the database we can easily get any information from any part of the world and there is less chance of loosing the data as it not follows the traditional way of storing our data in files etc.

6. Trustworthy, because machines are involved in doing all the work we can believe it because it doesn't know any cast or something else.

8. 24*7 services are available.


1. As in India many people's are there who is still illiterate they don't understand various processes of digitalization.

2. Sometimes data may be hacked or loosed.

As there is a less disadvantages I always prefer digital India. Although there is a various advanced technology emerging such as machine learning and artificial Intelligence still I believe at the same time the technology is also advancing to provide security for our data as much as possible.

We youngsters should support digitalization as we all are the pillars of our country.

Go digital, Go cashless and made India as digital India.

Thank you.

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Suraj said: (Aug 23, 2018)  
In my point of view,

It requires skills and technology to access all the digital transaction. India has taken a great initiative to adopt digital transaction. For the people who are from a village background and illiterate, it is nearly impossible for them to trust these methods of the transaction as one required knowledge of basic technology. It also requires to upgrade their smartphones which can be costlier for many people. So now India is not ready now. But maybe in the future.

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Farheen Ali said: (Aug 12, 2018)  
As every coin has two faces, just like that it is associated with some drawbacks. But due to it's numerous advantages I strongly favour cashless economy. The only thing that is required is we should be alert enough while going cashless. Many fraudulent sites are there claiming to be fast and safe we should not believe such new popup alarm unless we are sure.

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Prerna Singh said: (Aug 3, 2018)  

Digital payment makes the world cashless. As we cannot keep a huge amount of money with us all the time so.

It provides the means to keep a large amount of money.

Secondly, As we all know that the TIME IS MONEY, so it also saves our time and we make the payments in no time.

Thirdly, It is available 24*7 and globally.


Digital Payments are secure but the threats are more as compare to security.

As today world is full of technology and software that proves to be threat to the security. With the concept of Artificial Intelligence and Machine Learning the things are changing form impossible to possible. And this gives birth to the cybercrime.

And now a days when it comes to money I think nothing is more important than that. In India although the digital payments are made secure to very much extent still we listen to the cases of cybercrime that leads all of us to think once again on our security locks.

And we cannot go to completely cashless also because during emergency period we cannot trust on the technology.

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Nikhil said: (Aug 2, 2018)  
The digital payments nowadays are no more secure.

Let's take the recent incident that happened with the TRAI Chief RS Sharma by just trying to prove that nothing can be done with the aadhar number and posted his aadhar number.

Online and challenged hackers to crack this. Very soon Rs 1 was deposited into TRAI chief account by some hacker.

So we can conclude how secure the digital payments nowadays are.

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Acchuthan said: (Aug 1, 2018)  
The digital payment is needed but not to a cashless India.

In this advantage, the work for engineers can be recruited more.

In the case of disadvantage:

Nowadays the Indian government is going worse and there will be no guarantee for the safe of cash.

Beyond to the safety, more Hackers are improving they can easily watch your current activities.

The problem is there is no safety for cash and in case of emergency, we cannot assure the ATM debit card credit card will work.

In my thought Having cash in our hand will be useful in the emergency case.

Doing digital payment there will be an extra charge for the payment is applicable in some banks and after some years the tax will be increased in order there is the large recruitment of IT sector peoples for the process to claim their salary.

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Sankhadeep Burman said: (Jul 30, 2018)  
Digital Payments are pretty secure nowadays. But, that also depends on whether the person has followed all the guidelines provided by the banks to ensure that the security of his or her account is maintained.

By linking mobile numbers to email ids and also two-factor authentication (for eg. Fingerprint scanners) provided by the companies, are there so that even though there is a leak of information, without biometrics the information is invalid.

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Nayan B Mane said: (Jul 30, 2018)  
Digital payments secure but if and only if when there will be a software good enough for the hackers who don't able to hack inside the security of banks and other things like because whenever you put all the character in a digital format then if someone hacked then it becomes totally 00 and you will have nothing in your hand and the opposite side digital payments are good because you don't have to carry so much money with us and not worry about that it is going to be lost and having some trouble like this.

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Onkar Gurav said: (Jul 30, 2018)  
As digital money transfer is very secure system only for educated people because there are directly money transfer to the receiver account and no esue about money thef or fall from pockets. Also no worry about carrying of money in pockets. But other hand lessawear people about digital system are unsecured for the digital transfer. At any instant place or any time we can transfer money to anyone account or also for shopping etc. But sometimes because of incorrect information there will be chance to transfer cash on unknown acount.

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Neeraj said: (Jul 30, 2018)  
Online transactions are always prone to cybercrime. Also, the digital payments are not universally accepted everywhere. The digital payments have a transaction fee associated with every transaction that you make, if you take paytm as an example, it will charge you some transaction fee plus you need to have the connectivity and infrastructure and technology to use and transaction with digital payment methods. India can become a "Less cash" economy but it cannot be a cashless economy.

The cash to GDP ratio of India is smaller than that of the developed nations such as Japan.

We now rely less on cash but the advantages of transacting with cash are still not inculcated in the digital payments platform.

That was my opinion, thank you.

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Sanu Raj said: (Jul 29, 2018)  
At current scenario, the Cashless transaction is partial good as numerous region behind this. India is the very large country consists of numerous types of people, landscape. For any form of cashless transaction, there is a requirement of the internet, smartphone or other atm devices. The Internet has been not spread at all located in the current date. The population of India consists of 70 per cent of poor who are under the poverty line, so most of them can't afford a smartphone. If you take a keen look towards our society, most of the old aged group people don't use a smartphone. As a result, they can't pay in cashless mode.

Yes, in last few years cashless payment mode is promoted at vastly and its effect you can see easily anywhere. The youth of our country use to pay in cashless form. It can be more popular by giving proper training and information to the citizens.

In the future, it will replace cash surely.

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Riya said: (Jul 29, 2018)  
In my opinion, digital payments are more secure than cashless system if used wisely.

But, to make digital payments secure it's very important to be aware about crimes related to it and to get educated about these.

There security depends on the digital awareness of a person.

And, for this govt has taken several initiatives like awareness programs, and easy to use payment methods like tezz, paypal etc.

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Utsav Singla said: (Jul 29, 2018)  
In my opinion, digital payments are the safest way of the transaction as all our transactions are encrypted and are secured with an OTP which makes us threat-proof. The only requirement is that the consumer should be aware enough to not leak his personal details of his account to any 3rd party via phone call or mail. Otherwise digital transactions are the best.

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Sowmily said: (Jul 29, 2018)  
It has been a privilege for us to know more about digital payments yet people of our previous generations are sceptical to use it. They do know about all kinds of proceedings to make digital payments yet they prefer to go for cash payments. They fear the glitches of the system which can be very minute and can be rectified. Again with the campaigns going across India to make people understand the importance of digitalisation they are trying hard but the fact that illiteracy and poverty exist it becomes a great barrier for people to grasp all the new advancements.

In my opinion, they are secure and should be an integral part of the Indian economy yet going totally cashless it is going to take a long time. People should use more of Paytm TEZ BHIM etc apps to get to know more about these.

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Bhersa said: (Jul 29, 2018)  
Digital payment is good to make economy cashless. It will prevent money laundering, Tax evasion and black money going in Swiss banks which is a cash amount.

It prevents circulation of cash money and keeps an accounting of the nation income and total money.

It can abolish the bribery system when we use digital payment method. Tax revenue will increase and everyone has to give the reason for access to money.

Making cashless increase marketing and takes all market on a single platform to buy and sell everything.

If we talk about the drawbacks then there will be a great danger of bank accounts and UPI accounts hacking and money theft online.

In rural areas, it will take a lot of time to be totally digitised and opening if banks and account of the whole. Educating people for the cashless transaction and use of ATMs and online services is a great challenge.

There is also trust losing in people for banking system after money laundering by Mehul Chowksi and Vijay Mallya.

So they think that banks are also insecure.

First, by implementing all the measures to protect the accounts information and security we can dream of cashless Economy.

Read and give review and comments.


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Bhavani said: (Jul 29, 2018)  
Yes, Digital payment is secure enough for the Indian economy. Digital payment is easy and secure. In Indian currency is protected from the illegal notes by using digital payments. Where ever the transactions are easy by using digital payment.

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Bishal said: (Jul 28, 2018)  
Hello everyone,

I hereby want to mention that till now India isn't ready for a cashless economy, i.e. digitalisation. As because we all know about the software market now, which is being increased incredibly. If one can create history, he can destroy it also, likewise hacking of digital payment application is not so far. On the other point of view, due to unawareness of digital system in all over India, it is impossible to step towards a digital economy.

The Internet is not spread throughout India, so it might cause difficulties in this step. One barrier or fluctuation of the Internet may make a person wait a few days to get back his money back in the digital system.

Consider the case of physical handicrafts, means blind people, they usually make their transaction by touching and recognizing money. So if India will be digitalized, it will be difficult for them to survive.

When someone goes to any relative's house or they come to you, usually one thing normally happen in India that is elders usually give some penny to the children, which makes them blissful. If India will select the digital economy then there appears some missing of that situation.

Finally, I want to say the things that it is not impossible to make India digitalized in the case of economy. But before thinking about this, the curriculum should be made like that in order to avoid the difficulties in the future. Or else lots of problems will appear due to a small wrong step.

Thank you.

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Neha Sharma said: (Jul 28, 2018)  
This is not a right time to go digital payment. We are all know all about India illiterate people rate. In our country, there is so many rules area and even they don't know about the banking system and we are faxing the electricity problem.

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Mayank said: (Jul 28, 2018)  
In my opinion, India is not ready to become a cashless economy, this is less because of technology more because of a security threat.

Not because one has not come across theft incident in this digital money transfer it doesn't mean it is safe. It is easier for a thief to steal money in this digital money transfer, just sit in front of computer do some hacking and within some time you may have lakhs of money in your bank account it is that simple actually but fortunately, not everyone can do it. The one who can, it becomes very difficult to catch him.

Security is a big problem that one can face here.

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Mahi said: (Jul 28, 2018)  

I think the digital payment system provides high-security levels than the cash mode and because of digital payments, the black money in the country will gradually decrease. Nowadays rural areas are also well aware of digital payments and also present govts are also providing awareness camps on digital payments system in rural areas to ensure the people.

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Soumen Maharana said: (Jul 28, 2018)  
Yes, digital payment methods are secure enough to make Indian economy cashless. Govt has taken some several steps to support digital payment methods like encourage apps like Paytm, Tezz, BHIM. This online wallet will help the consumers to send money fast and safe, it will also help the beaurucrats to keep an eye on every single penny which is being illegally used.

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Jayishnu Roy said: (Jul 28, 2018)  
Although one might say that, 'we Indians have got a digital literacy rate of around 75%, the rest of the 25 don't even know to type on a digital platform. But over past few years with the advent of Government's latest projects to boost digitization, the common man is getting wiser and wiser towards the crimes against the cashless economy. With rising wisdom, we are getting towards secure digital transactions.

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Anmol Purohit said: (Jul 27, 2018)  
Hello friends.

According to me, digital payment is the best and very useful way of transferring cash globally somewhere one might think of cyber crimes but if we use it wisely we can avoid it.

Secondly somewhere it is not considered very useful in rural areas where digital knowledge is not very good among people but initiatives have started to reduce this problem.

Thank you.

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Raviraj Bhosale said: (Jul 27, 2018)  
Hello friends,

This is the very interesting topic today because of current government banned currency at any time so is it not safe to take hard cash and use. I think digital payment is good that reduces most of the time we are spending on banking disposition and credit some money.

By using digital payment we can easy to transfer money at 1 min all over global. For it's safety we can follow the bank's rules and policies like don't share your pin number, ATM card number to avoid cyber crimes and more thing guys it's helpful to reduce global warming by using digital payment no paperwork and we can save our nature.

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Braj Gupta said: (Jul 26, 2018)  
First of all, I would like to thank all the member who participated here and have a healthy discussion.

As far as I concerned about digital payment, it is one for the bold initiation of the current government. It's a new beginning I would say, however still we have lots of challenges of illiteracy and awareness among the people about the use of safely digital payment to avoid cybercrime. However, beginning has started somewhere and I believe we will give the full digitalized system to our next generation.

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Sudhanshu said: (Jul 26, 2018)  
What I feel is that digital payments are fast and saves a lot of time, can be said secure for some part as its not totally secure, a breach or a hack can be done anytime but lets just say its secure and its a great advantage to the economy of a country and its people as it takes the country towards modernization and globalization. But like one should not have total faith in anything ever, they should not be relied upon totally. They have their bane as well on the society. There are many factors at hand. Digital payment and cash payment plays a vital part in their own ways and they should be the best rest the way they are. One can not erase the other. Digital payment can not be afforded by everyone in the country but cash can be there with everyone. Some of the reasons for it can be illiteracy and poor. So, according to me, a digital payment and cash payment should go hand in hand.

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Utkarsh said: (Jul 26, 2018)  
Indian economy is expanding with a very good pace and had been ranked as 6th richest and biggest economy. By this going cashless can rocket boost its economy.

But looking at the other side of the coin shows a big threat of security, for this we need to educate our people about the internet banking and threats related to it.

In a nut shell digital payments are reliable but within the jurisdiction of common people that the can handle.

"Excess of anything is harmful".

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Santosh Kumar said: (Jul 26, 2018)  
I think yes, if we have used in a proper way read out all the instructions. But in India , uneducated people first of all, give the idea about how to use like don't share otp number, your id password, mobile resisters numbers then we have used.

There is a huge amount of benefits time saving, don't fear theft. Reduced correction and don't a problem of taxes.

There are many applications are used for the transitions the money don't use the local app. Used net banking.

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Muniraju said: (Jul 26, 2018)  
Going cashless is a good idea for a people who are well versed with the smartphone users when it comes to illiterates are formers it is very difficult to make a payment and now we are facing a lot of cybersecurity problems. So, it has to be done in the safer way.

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Rojae said: (Jul 26, 2018)  
Hi everyone.

In my point of view, it is necessary to adopt modern technology only if it is beneficial to everyone, but if they are facing many problems from this then what is the use of implementing.

To make use of completely it is mandatory that at least minimum knowledge about the digital banking release, there are many possibilities of losing money may occur.

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Ishpinder Monga said: (Jul 25, 2018)  
I think digital payments are secure enough as the providers who are providing the service needs to take care of the security or else they won't find enough people for their service hence might not be able to grow. Also for the economy of country like India it can come. Into action as a person is eligible to transfer a big amount within no time and able to get its work done.

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Pawan Virat said: (Jul 25, 2018)  
Maybe but when it comes to the rural area's there is no idea about the digitalisation of money? And when our digital payment is not useful to the villagers then it is no use and it has more danger than the snake because when the computer technology come to us it has advantages as well as a disadvantage in case of the hacking the normal income people will suffer from this type of digital.

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Mukesh Pant said: (Jul 25, 2018)  
I feel digital payment is good because it makes a life very easy. We don't have to carry cash on our wallet. Anytime through digital technology, we can make payment. Also, it provides security as no one like to carry huge cash with them. It also safe time as we don't HV to go out to make a payment just sitting in our home we can do online payments at any time.

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Vino said: (Jul 24, 2018)  
It can be enough for the Indian economy. Because our Indian country is a developing country not only in money, but also in education. Our Indian people can learn anything easily without the education. So if we teach, create or conduct one awareness program, guide them about the security level (to tell them don't share your One Time Password, PIN to anyone) in a clear manner means, then they easily understand the purpose of use it. When this process is proceeded means, then the Cashless Scheme of an Indian Economy is going to worked out. Awareness is main, security level with full confidence is the important thing to consider in this consideration/process. With full of Creating one Awareness Program and full of confidence with security level, proper guidelines is provided to the people means, they can easily use it and is going to be worked out properly.

I conclude that the Indian economy is more secure enough to go cashless world.

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Girika Khanna said: (Jul 24, 2018)  
For a country as populous as India this question is a debatable one. If we say yes it is secure enough for our economy to go cashless we might be forgetting about the numerous hacks pertaining to data, banks etc which have been happening because of technological advancements. On the other hand if we say no it isn't safe we might be hampering the main reasons behind such an initiative of the government. A cashless economy reduces the risk of theft, gives the government better understanding of the cash flow in a system which further strengthens its tax collections and can ultimately reduce corruption.

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Yasha Gadodiya said: (Jul 24, 2018)  
Yes, it is a secure way to pay because all transactions are done online and create an evidence which no one can deny.

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Sushmitha Gowda said: (Jul 24, 2018)  
I feel digital payment isn't safe from the perspective of being hacked, but then if we could make an improvement in cybersecurity this would go hand in hand.

As most of the people in India are not comfortable of being digitalized may be because a few are unaware of usage, it would be prominent if you make a social awareness about the ease of usage of digital payments this would make wonder.

And yeah on a serious note misplacing or theft of money may also be reduced as a carry of heavy cash may not be needed all the payments are done in our fingertip.

Rate this: +22 -4

Sumit Jangid said: (Jul 24, 2018)  
No, I think digital payments are not secured because we are living in an era where all the countries are being forward to us in cyber security. If it is possible for a hacker to hack the NASA database than it would be pebbles for him to reach to our bank accounts, also in our country people are not so active on cyber that they can protect themselves from this threat. From my point of view when cyber payments are executing in our country it should be highly protected by Indian government Through their cyber cell. So that we can go cashless one day.

Rate this: +26 -4

Harsh Rajput said: (Jul 23, 2018)  
In country like India which is a developing country it is not possible to be cashless totally because of many reasons. Most important is even half of the population of India is totally aware of the Technology they don't now to operate smartphones nd computer properly so it take time to make cashless.

Rate this: +6 -1

Maneaishwarya said: (Jul 23, 2018)  
Hi friends, according to me, in India still cashless transaction is done successfully. But there are many more problems in a cashless transaction. Related to security, Still, India is not completely sure that the cashless transaction is more secure.

Rate this: +6 -1

Nitesh Sharma said: (Jul 23, 2018)  
First and foremost, I would like to thank Our Government for this new step they have taken towards the betterment of all citizens as we are in juncture where everyday we have to learn and adapt and implement new things with the gadgets and gizmos to go by hand to hand without aprehensions, See you all must have understand that these machines are the most sphosicated if we know to use in good manner. I think everyone must have Flaw with this new digital achievement.

Rate this: +2 -3

Nishanka said: (Jul 23, 2018)  

According to me for every forward step, there are some negativities.

Now, coming to this topic "going cashless" means paying all the necessary bills by using a single button sitting button sitting at home.

But all the people doesn't know about this. So people awareness should be grown to increase this activity, especially in all the small towns. And the securities should be given much better without hacking the pages.

I finally tell that this is a positive step.

Rate this: +15 -4

Satvik said: (Jul 23, 2018)  
Hello guys,

A digital payment is not secure for India to get cashless because in India there are and many people who doesn't know how to use androids or computers. If they get some information about it, they start using it but there are hackers who can misguide anybody and loot their money. Nowadays cybersecurity problems are increasing and making digital cash is like giving our money to them easily.

Rate this: +4 -1

Toshi Jain said: (Jul 23, 2018)  
Hello everybody.

As each and every coin has two faces so as this topic.

This "Go Cashless" scheme t is really an appreciable step taken by our Indian government.

-> Because it's making people digitized.
-> They are learning on the apps.
-> It's time-saving.
-> It's also maintaining the transparency between the government and the citizens, and working as a helping hand in reducing corruption.

On the other hand, apps which is most widely used for transactions " Paytm" is a Chinese company and we have a blind faith on it. Logging in means giving all your details to the Chinese shareholders. Now, if we talk about the future, maybe at the time of financial calamity like world war 3 they can withdraw all the money from accounts and may leave India helpless.

So, making India cashless by promoting Indian transaction apps is an immense need in today's world scenario.

Rate this: +26 -14

Priyanka said: (Jul 22, 2018)  
According to me, digital payments are secure but this is possible for only those people who know how to do online payment or any other.

But in our India most of the people are illiterate they don't know about this. So, first, we will make to all people literate.

Rate this: +14 -5

Meet Desai said: (Jul 22, 2018)  
Basically, at current stage Indian economy is at its rising stage, which wasn't the case a few years ago. To enhance this growth, digital payments are the best solution. And like many major countries like US, China etc India too have the potential for securing this payment and finding a solution to any flaw in the system.

Keeping the population as one of the aspects, digital payment won't be accessible to everyone at the beginning stage but as time passes everyone should and would go cashless and the system would also keep optimizing itself.

Concluding that digital payments are secure and can completely achieve cashlessness and help people to live an easier and cosy life.

Rate this: +2 -0

Vijay Gawate said: (Jul 22, 2018)  
I partially agree with this, It's true that digital payment is secure enough for the Indian economy to go cashless but it is valid for the peoples from cities who have good knowledge about this system because they mostly are educated but if we look into villages peoples they do not aware about it, even they don't know how to use smartphone then how should they make digital payment.

So, I just want to tell government awareness should be done by the peoples who were living in villages then and only then this system gets more efficient.

Rate this: +7 -0

Arushi Jain said: (Jul 22, 2018)  
Just like a coin has two sides similarly to the concept of digital payments has both negative as well as positive aspects. One one hand looking towards it positive aspects digital payment mode is the best method that benefits the people in a variety of ways. These include;

* Saves a lot of time.

* Contributes towards development of the country.

On the other hand, focusing upon the negative aspects more than 70% of the population of our country is primary activity based such as (agricultural, animal husbandry, fishery etc. ) which denotes that most of the population of our country is illiterate due to which it becomes very difficult for the people of the country to adopt the system of digital payment moreover the security system is not so much highly advanced that it can lead to safe completion of the process. In India before any system is made completely the ways of breaking that system are made first due to which it is unsafe to perform transactions through online mode.

Thus, it is not possible to completely transfer the economy in a cashless due to its disadvantages but slowly and steadily the dream of digital economy can be made true by spreading awareness about its benefits, making people literate that will serve the dual purpose of 100% literate India, providing training sessions so as to train them how to use the system.

Rate this: +2 -0

Apoorva said: (Jul 22, 2018)  

Life has become easy since this scheme as everything can be pay and can be brought using mobiles. It might be grocery or paying bills, mobile recharge all our daily needs. The daunting has been vanished for carrying money in their pockets because of digital payments and in worst case even if mobile is been mooched It can easily be endowed. But still, as the majority of people is illiterate it becomes difficult to understand and make use of this scheme. If there is provisional of awareness regarding how to use such technique between such peoples no wonder it will help them and India to be a developed country.

Rate this: +1 -0

Pranali said: (Jul 22, 2018)  
Yes, I think its safe. Because nowadays there are lot of secure ways to cashless service. Before we go to the payment the Password, OTP are the steps through which our details are encrypted. But the most imp fact is that in India there is lack of awareness as well as lack of knowledge to use cashless service. Most of the people can't handle smartphones. So, before the implementation of this, we should make people able to use this service. Because it has many benefits. We can order or purchase the things we needed at home only. No need to go outside. It saves our time. .

Rate this: +2 -0

Amit Srivastava said: (Jul 22, 2018)  
According to my opinion, digital payments are much more secure than the cash because of the following reason.

1. It is easy to carry. In India, before digital payment, people feel unsafe when they have to carry a large amount of money with them.

2. It is easy to transfer. Before this, if any people want to transfer money to other then it necessary to go to the bank for transferring money. Now in the present days, we use mobiles & various electronics gadgets to do this.

3. It is highly secure. It uses various security checks like OTP, password, biometrics etc.

But there are so many demerits, as we all know in India there are 65% of the total population are dependent on agriculture. And they don't know how to use mobile phone & gadgets. They are easily cheated by the people. So firstly, the Indian government should have to start an awareness among the people related to digital payment.

So we conclude that digital payment is not much secure in India because of lack of knowledge among people related to this. But it will take at least 5 years to the completely secure Indian economy.

Rate this: +4 -0

Aditya said: (Jul 22, 2018)  
In my opinion, the context varies throughout the country. Nowadays people are abruptly shifting towards the smart mobile phones which is in itself a good sign to bring people to the digital platform thanks to the internet data giants. This enables all to use the digital modes for the transaction.

Regarding the safety as all the modes has 2-3 security levels like OTP, PIN, mPIn for UPI are safe enough. Sometimes, these modes fail which causes panic situation but there is no worry as per my experience the failed transaction amount is reversed back into the original account within 7 days. Also, anyone can say that I will not be able to use the money instantly in case of failure so this is truly a major drawback of payment modes like UPI.

Rate this: +1 -0

Goks said: (Jul 20, 2018)  
From my prospective, digital payments are safe in India today. Everything has become so easier and safe these day whether you talk about paying fee, mobile bills, electricity bill or ordering something. The various apps and digital transaction sites are secured enough to prevent from any hacking attack. There are atleast 2-3 security level like your passwords, otp etc before any transaction is made. So, I would say the person doing digital payments should be well aware of fraud calls, messages etc and not to share any security information like password, OTP etc. Otherwise, the banks and other digital wallets are providing us with enough security to make easier and safe transactions from our home.

Rate this: +27 -1

Disha Parikh said: (Jul 20, 2018)  
Yes I agree, digital payments are secure enough for the Indian economy to go cashless. But firstly, we need to make people aware about the latest technology, still many people don't know how to use the smartphones, so I think before implementing any drastic changes in the way of making payments, making people aware should be the first priority. Also, India is still a developing country, so for the development purpose, we need to make the human resource of the country literate and then going cashless thing should be taken into consideration.

Rate this: +16 -5

Harshada Rajput said: (Jul 20, 2018)  
Yes, I absolutely think that going cashless is secure. Because of it more of the traditional money transaction which are hidden from Govt have came into eye of Government So anyone trying to fraud can easily be captured. Along with these, digital payments have saved the time. People can transfer money easily on one click. They do not have to go through long process. Just a click on [phone and you are done. Also, it is better because we do not have to carry money all the time. You have a mobile phone and thus you have money.

Rate this: +12 -1

Krishna said: (Jul 20, 2018)  
Proper implementation of anything in the world is a difficult task for the management. If we talk about the Indian economic system, the first thing comes in our mind that the approximately 65 percent of the population dependent on the primary sector (agriculture) of our economic system which of the most are not able to use digital payment system due to the lack of awareness and knowledge. And another problem related to the digital payment is security which can be secured by implementing the proper data algorithm system because today India is growing in the field of computer science. Another side we have many benefits of it like convenience, time-saving (fast payment), more flexible, no tension of carrying cash etc. Finally, I want to say that digital payment would be better if we bring this system in front of people with more secure and aware.

Rate this: +10 -3

Yeshwanth said: (Jul 20, 2018)  
They can be said secure but not totally, As Indian economy consists of people involving of different status and of different perceptions. Firstly let me tell obut an above average people (financially). These people are much aware of technology and they even encourage digital payments as it is easy going process and they can see to it and can look at changes thoroughly. But if you take the case of people who don't have any prior knowledge in technology. For them it would be risky and they might not adapt it properly and may not even go dependent on others for financial payments. I mean to say even the payment might be secure but some people may try to cheat them as they are not aware of it. So I conclude its not secure if all the cases have been taken into consideration.

Rate this: +9 -2

Alankar Tare said: (Jul 19, 2018)  
Well, digital payments are really working in India since past 1 year. It has own merits and demerits that are as follows.

1. Most important is that India is moving to the cashless scheme.
2. Its saving our time rather going to ATM and make payments to others.
3. It also secures our details and information and password too.
4. Increases India economy.
5. People are easily transferring their money through there phones and gadgets.


1. Lack of awareness among the peoples.
2. Lack of knowledge that how to send money.
3. Data can be a hack if we not use secure payments and share their information.

Rate this: +6 -2

Jesee said: (Jul 19, 2018)  
Hello everyone,

Our country (India) is a developing country. Now many things what we do everyday are cashless. Government is making changes regarding this. Even though so many people in towns and villages don't know about the digital payments. Awareness need to be increased, so that we can make everything digital. When it comes to security, maximum security to their extent is being provided by the apps but rest is in our hands. We should be a bit cautious when we are sharing and in keeping of our details. So, I consider digital payments are secure enough for our country.

Rate this: +21 -3

Vasanth said: (Jul 19, 2018)  
As pert my opinion, still INDIA is not developed to impose cashless economy. We jest thinking about city, but still more then 60% don't know how to use debit card (even some peoples in city) and many village not even provided electricity connection till date. Without considering rural peoples speaking about cashless economy is wast.

Rate this: +5 -9

Revanth said: (Jul 17, 2018)  
Hello everyone,

In my opinion, digital payments are not enough secured why because they are two things we should consider in this topic.

1. How many percentages of people are educated?
2. Security.

Coming to first thing in India they are cities and villages in the case of cities we no need to bother but in case of villages, they can't be able to do these digital transactions so the government should bring more camps to bring awareness and educate the people in villages. Coming to the second topic some apps are secured and some apps are not secured for example Tez and so on, we should also take into point that when transactions are processing if they are any disturbances in net the money will be debited from our account but it won't get credited to whom we are sending, if in small situations ok but in an emergency case and also while sending the large amount definitely it can be hacked by some other person and assume if it is not hacked the money will be returned after 6 or 7 days these days who will fulfill the persons need. In the case of educated people they can manage but in case of village people, they may face difficulties so in my opinion, India is not ready for these type of schemes to amend this still India need to increase the security level and more awareness camps.

Rate this: +45 -7

Ananya said: (Jul 17, 2018)  
The way I think India is good enough to go cashless because government are already introduced some sites like BHIM, paytm and many more and they are secure as they provide UPI gave Otp to the number which is register to that account, the only thing we need to do is to aware people about not to share the OTP and password to anyone we can't blame government For security its in our hand.

Rate this: +15 -7

Parijat said: (Jul 17, 2018)  
Hello everyone.

According to me, the digital payment system is not yet completely secure to undergo a hassle-free digital transaction. The increasing number of financial scams and cyber crimes are enough to prove this statement. There are still certain digital payment platforms where adequate steps have not been taken to ensure the security of transactions. While some online payment apps may be secure enough, some others are lagging behind with regards security of transactions.

Coming to the consumers of digital payments, there are different categories of people. One category includes people who are educated enough and have a good amount of knowledge about digital payments including the security measures to be taken beforehand. Another group of people are those who are uneducated and hence lack financial literacy. And the third group includes people who are educated but show negligence or reluctance in adopting security measures while transacting digitally. Therefore, govt organised campaigns, seminars and advertisements should ensure knowledge of ways to adhere to digital security in transactions among these people.

Rate this: +18 -5

Ritik Agiwal said: (Jul 17, 2018)  
Yes, the digital economy is secure enough for the Indians economy to go cashless because.

1- It reduces the taxpayer's fraud (they can't change or generate the different amount bill).
2 - It reduces the lost of people who are sitting at the roadside for selling the vegetables.

Reason - The people who are selling the vegetables at the roadside and a customer comes to them and buy around INR 52 vegetable (the actual cost is 52) and they paid INR 50 to the seller, so they have the lose of INR. But when the digital payments and wallet hit the market the lose was decreases rapidly and the seller is getting their actual amount of product. (The common / lower-middle-class benefits).

The digital wallet is highly secured because no one is going to take your money without your approval or until and unless you paid them. This is a good cause and we should appreciate this cause.

Rate this: +2 -7

Divya Miglani said: (Jul 16, 2018)  
In my opinion, digital payments are not 100% secure for the Indian economy to go cashless India being a developing country but still, there is a lack of technology. Moreover, there are so many hackers who hacked credit card details of an individual and there is a need of education in our country because uneducated people don't know the process of digital payments. As govt of India introduced UPI and BHIM digital platforms for security purpose but due to lack of awareness in our country digital payments are not secure enough to go cashless.

Rate this: +7 -1

Treasa Jacob said: (Jul 16, 2018)  
Hello everyone.

In the current technological era, the world is welcoming the new and innovative concept of making payments i.e. Digital payments. More and more people are embracing digital payments across the globe. In India, with the extant government great focus on digital India and making the country a cashless economy, millions of people are now entering into the digital payments arena. There are so many people who are making payments via Net-banking and mobile banking for the first time even they have been maintaining their bank accounts since years.

The digital payments are safe and secure if the people follow all the rules and guidelines. The people tend to ignore some small points mentioned in the guidelines which creates space for breach of security for the digital payments. All the payment banks, the wallet owners, mobile banking apps manufacturers keep researching to make the payments secure. So it is necessary that the people upgrade all these apps time to time. There is no need of panicking if the people remain alert while making these payment.

Rate this: +3 -1

Ritu Sarma said: (Jul 16, 2018)  
From my point of view, the digital payment is secure enough if you are not sharing details. As for payment you have to enter the OTP that shared by SMS or your ATM PIN number, which is secure enough. You does not need to carry cash. But one problem is that if you save you banking password in your mobile is dangerous. Other ways it is safer than cash and saving your valuable time also.

Rate this: +4 -3

Tom Joseph said: (Jul 16, 2018)  
Good Morning everyone.

From my point of view, I think it's almost secure to do online payments. As govt of India is doing maximum possible activities to make the digital payments secure. And digital payments provide a wide opportunities to the Indian customers. As it gives a wide platform for the buyers and sellers in Indian market to do business.

It enhanced the Indian markets to next-generation marketing and selling activities. While we make a payment we can understand that how safe is the payment platforms. As it is processed through 3D payment gateways. And for online trading activities SEBI keeps an check on every transaction. But we should consider that every law has a loophole. Even the most secured American gateways are being hacked. Thus we should also keep an safety from side without exposing the passwords. Thus I conclude that, Indian digital payment platforms are secure and also have a vital role in the development of Indian economy.

Rate this: +11 -6

Keerthy Xavier said: (Jul 16, 2018)  
Good Evening all,

My opinion is digital payments help us in many ways by using various different modes of payments. Basically, it is secure and unsecure also because most of the uneducated people don't know how to use this type of digital payments and they have to face a lot of problems and it hacks details. The people may forget the passwords. And most of the people use different apps for making payments but it is not secure for the people it will lead to create many problems. It is not secure to use certain accounts in the economy because the number of the hackers are increasing. Digital payment is secure and unsecure also.

Rate this: +9 -2

Liya Margarette Antony said: (Jul 16, 2018)  
Hello friends,

As India is considered as a developing country, the use of digital payments is an important factor. Actually I think digital payments are secured enough unless we share our private details. Most of the people are unaware of this usage, so they feel unsecured. In this present senerio through digital payments one can easily access money.

I would like to conclude that all digital payments are secure and our economy would meet them in future, that is cashless INDIA.

Rate this: +4 -0

Alister Fernandez said: (Jul 16, 2018)  
Hello everyone,

From my point of view, the digital payment system in our country is secure. The transactions which are made are full encrypted. The details of the transaction is fully encrypted where there is less chance for the details to be hacked. The OTP which is sent to our mobile phones is valid only for a couple of minutes. Therefore it is safe to pay bills through online payments. However, if the payee is not aware of online transaction it might lead to many problems. Even if the transaction is not complete and the amount got debited from the account it will be credited within 3 working days.

Rate this: +2 -0

Mathachan said: (Jul 16, 2018)  
In my viewpoint, the digital payments in India is secure enough. The government of India is bringing the best technologies to make the economy cashless. Bank to bank transfers are reliable, secure and fast. The government of India has made payment platforms like UPI and BHIM which are 100% secure.

Rate this: +2 -1

Tresa said: (Jul 16, 2018)  
Good Afternoon friends,

In my view point, for each and every development there is prons as well as cons. As we know INDIA is developing country, thus we need to adopt new technologies and developments. Therefore in my view point in this present stage digital payment is not secure enough for our country due to lack of technology as well as lack of education.

But I'm sure that in future if our country give education as well as improvement in technology it will be secure enough for the Indian Economy to go cashless.

Rate this: +2 -2

Aparna Abraham said: (Jul 16, 2018)  
Good Afternoon friends,

I totally believe that country like India is still developing with its improved technology and other latest innovations, but some kind of a development that makes the digital payments secure to go cashless economy is somewhat convincing for everyone.

It has its own advantages and disadvantages. Its necessary for the Indian economy to make digital payments more easy and convincing. It makes a person to make digital transactions possible and is very less time consuming. A person doesn't have to go to physical place spending their precious time. At the same time, it is somewhat not a secure system for making payments as it can misuse a person through hacking and stealing money. People use others password number and they can reach through our account and makes a persons life miserable. We totally can't depend on this for carrying out our activities. This system is totally ineffective for a person who is uneducated and for those places where it is backward in almost all sectors. So this is latest technological development as technology has got its own benefits and harms, digital transaction to make India go cashless is a boon as well as bane.

Rate this: +4 -2

Alister Fernandez said: (Jul 16, 2018)  
Hello everyone,

From my point of view, the digital payment system in our country is secure. The transactions which are made are fully encrypted. The details of the transaction is fully encrypted where there is less chance for the details to be hacked. The OTP which is sent to our mobile phones is valid only for couple of minutes. Therefore it is safe to pay bills through online payments. However if the payee is not aware of online transaction it might lead to many problems. Even if the transaction is not complete and the amount got debited from the account it will be credited within 3 working days.

Rate this: +4 -1

Anumol said: (Jul 16, 2018)  
Hello friends,

In my point of view, digital payments is very secure as compared to other. India is not a devoloped country but it is a devoloping country. For a devoloping country this type of technology is needed. Today most of them chooses online transactions. But in the rural areas people don't know how to use this process. So this technology is mostly useful for the coming genrerations. As every coins has two sides so just on the basis of negative sides we cannot just torn out this process.


Rate this: +2 -0

Benitta Raj said: (Jul 16, 2018)  
Hi everyone,

According to me, I agree with this statement. Because, we can go anywhere in the world without cash. But, think one thing that is in our economy there is illitarate people also. They don't know how to use these technology, also they don't know how to use a smart phone. So, firstly governmnent initiate to take first step to take awareness class to illitarate peoples.

So, other thing is digital payments is technological system we can access this with smart phones easily. We can purchase and buy things without payment of cash. It was very confidential with password.


Rate this: +3 -0

Sneha Santhosh said: (Jul 16, 2018)  
Hello Everyone,

According to my opinion, everything has a merit and demerits. The good part with digital payments is that you can save time and also reduce black money. But the sad part with this digital payment is that online transactions may be risky as all people in India are not educated, mainly people from villages would face a lot of problems. So I would like to say that the government should create more awareness about these digital payments.

Rate this: +1 -1

Shintu said: (Jul 16, 2018)  
Hi everyone,

In my opinion, everything has its own pros and cons. A cashless economy is a very effective initiative in a developing country like India. Digital payment systems are more accurate, time-saving and gives security for our transactions. It is easy to do transactions at any time from any parts of the world.

As we all say a coin has two sides, digital payments hold some problems like illiteracy among the citizens, due to this lack of literacy many of them may not be able to access to the present e-payments systems. Many of our citizens are not aware of our digital service.

Rate this: +2 -0

Jeesa Christeena.S said: (Jul 16, 2018)  
Hello friends,

In my opinion, digital payment helps to faster our transactions. But all the technology has its own pros and cons, modern digital technology helps to faster the transactions. But it cannot be sure that it is secure to enough. Another major disadvantage of this digital payment is it cannot be applicable in rural areas and villages. Online transactions are risky threat to not educated peoples, they will face the major problem as they unaware of smartphones and the modern technology. Most important advantage of the this sector fastest online payment system and we can save time. The government should take suitable steps to secure the online transaction. It is a suitable for the Indian economy to go for cashless. But we are aware about the threats and take steps to avoid them.

Rate this: +0 -0

Treesa Tomy said: (Jul 16, 2018)  
Hi Friends,

To discuss upon the matter of digital payment, it is the process of carrying out payments in an elecronic manner.

Digital payment is a high requirement in the present world. It facilitate us to make our transaction with a gentle tap on your device. It help us make our payment, recharges, shopping, etc done in a quicker manner. It saves a lot of time. We will no more require to stand in long queues. Apart from that, one will be able to transfer funds irrespective of location. Debit card, mobile banking, Paytm wallets are some of the examples for digital paymnets. Inordrer to make digital payment more attractive popular e-wallets provide us with multiple number of offers such as cashback, coupons, first time free payment and so on. The digital payment is made secured with captcha code and otp.

Just like everything got it's own merits and demerits digital payment has got it cons too. Digital payment is not fully secure even though it has security provisions. Living in the world of hackers, it is highly dangerous. They can peep into our personal life. More than that India is only a developing nation. Not everyone has access to digital banking system.

To conclude I would like to say that with proper development in banking sector in all areas of nation and educating people about digital payment will help them make their work easy. Using of approved banking apps help reduce security breach to an extent.

Thank You.

Rate this: +2 -0

Dineshkumar.D said: (Jul 16, 2018)  
Hai friends.

The digital payment system idea is very good. And very safety and secure system. But our Nation is developing nation the all areas not develop only metro cities and town and cities are only applicable the system. The rural area and middle towns are not Internet connection and proper electricity service not provide. The only cites used.

My conclusion is digital payment system is very super and secure. And Essy to payment and transaction steps.

Thank friends.

Rate this: +0 -2

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

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