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

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2106 comments Page 1 of 211.

Rupali Mourya said:   2 months ago
Greetings Everyone !

Our topic is "Are digital payments secure enough for the Indian economy to go cashless".

Digital payments is widely prevailing all over India and in foreign countries. Because people find it easy, time saving, proper records of the transactions in no time. If we look back when Covid-19 Hit our country, hardly 10% of people were using Digital payments because they were not use to it and also very worried about banking frauds, but in Pandemic people were not having any option to any other option to transact of their purchases. Main reason behind this was no one was allowed outside so they find this very easy way and at that time only they got habituated of it. Digital payments not only safeguards our money but also it gives track record of day to day transactions. Proper idea about where exactly your money is going. It is Safe but it also have some drawbacks which one should be very alert while paying through UPI, before entering pin must verify your receiver who you are going to pay. This will safeguards your payments/transactions. Only problem will be faced by our illiterate people, still they hesitate to pay online. It will take more decades to cover this problem but soon India will be totally Cashless.

Digital payments shows its an secure transactions but not actually it is. The more the technology is enhancing, on the another side cybercrime is also increasing along with it, if Goverment is taking measures to frauds, like millions of amount get debited daily, if there is no solution for this how one will continue his digital payments, if one has suffered he will got to know more people and they will also reduce their transactions, one will only continue digital payments when they get proper solution of their issue.

We have to look in both the perspectives then only everyone will make an unanimous decision.

Now 90% of Indians use Digital payments and 10% are still not aware, this will automatically increase in coming decade with lot more benefits.

And soon whole India will use Digital payments, Now already our UPI is accepted Globally in many countries like Paris, sooner the counts will level up.

Harsh Dev Tyagi said:   11 months ago
Good Morning.
Today's topic is very different "Are digital payments secure enough for the Indian economy to go cashless?".

In my view, digital payment is a very good option because it saves time to think that every person go to the bank for each and every work related to bank, cash and spends much time on bank whenever if we use digital payment then we can do much work through our mobile and internet banking like transfer the money, view statement, apply for cheque book and many more.

And due to digital payment, there is no chance of money loss from the pocket.

We know that each and everything have some advantages and disadvantages.

The advantages of digital payment is as follows:

1: Saves time.
2: No need to carry money with us.
3: Transfer money to anyone who uses digital payment.

And digital payment has disadvantages which is as follows.

1 : Non-literate person face difficulty to use digital payment.
2: Online fraud is increasing.

Niraj dayanad said:   1 year ago
Yes, the digital payment system is a very good thing to keep money safer. Till the information is not there in the hands of the cyber hacker person.

The cashless payment is not good for the illiterate person who has no idea about phone or the technology.

Samatha said:   1 year ago
Digital money made life easier by not going to banks and waiting for hours and not carrying cash around, but digital money also becomes problematic when the bank server is busy where the payment doesn't process. Difficult to understand for illiterate people. In some areas, still, a lot of people use cash. I think both digital money and cash should be in use.

Niharika said:   1 year ago
We've all used currency notes and coins for generations. We are all completely familiar with cash transactions. All of a sudden to bring in a new form of financial transaction is not correct. It wasn't correct even during the lockdown. The digital transaction, digital currency, digital rupee, etc should not be made compulsory. If at all, it can be made optional but definitely not compulsory. Not everybody is digitally literate or inclined. Nobody should be forced to be digitally inclined or digitally literate.

Satendra Kushwaha said:   1 year ago
For literate people, digital payment is good, since it is flexible and easily transferable and within seconds amount reached to person's account but these days it is quite irritating as well some times amount gets deducted from the account due to certain reasons and that amount not reached to depositer account. My request is Centre government should look into this, they can talk to all degital payment application authorities to provide their customers care support number so that people can interact with customer one to directly instead of using customised options. Thank you.

ABhishek mishra said:   2 years ago
Yes, I think digital payment is one the relevant process of payment its always be a time and place flexible.

But we should also think about the others who don't have an idea about the digital payment.

Ananya said:   2 years ago
Yes, as our finance minister MRS Sita Raman said that India will have the centralize digital rupee which is now in pilot mode so digital payment become more secure due to this.

Kanchan soni said:   2 years ago
I agree with this when it comes to literate people who can easily use the digital system because it is good for Indian economic growth but when it comes to illiterate people then It might be risky because of the increasing percentage of cyber crimes nowadays. So I conclude, a cashless system is good for those who have knowledge about this.

Vikas said:   2 years ago
Yes, I Agree, the digital payment is secure because nowadays black money is more in India all are using digital payment. Black money will come out.

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