Points to remember before you participate in this discussion:
|Krish Tripathi said: (Apr 2, 2020)|
|As we must know that our country today has the world's 6th largest economy, we must now go cashless.
Our country and the software engineers are doing their best to make the digital transactions safe and secured. In most of the payments OTP`s are used.
We must make the Indians aware of the safety precautions to be taken while doing digital payments.
|Suman said: (Mar 17, 2020)|
|It is not just about illiterate people but many literate people also do not show interest in digital payments as they are not confident about it. They are unable to trust digital payment apps as they have heard about so many scams and frauds. So firstly, the government should sensitize people at the ground level to make them confident about digital payments. In my opinion, digital payments are secure enough for the Indian economy to go cashless but it is only possible when people will become sensitized and confident about it.|
|Sahil Thakur said: (Mar 8, 2020)|
|Digital payment is not only good for us but also for our nation's development. Our nation is one of the biggest nations in the world and for this if the nation there is a need for big networks and digital payment is one of them. The only thing government should do is to take some relevant measures to teach people who don't know how to use it.|
|Prasanna said: (Feb 27, 2020)|
Here digital payments thought is very good.
But once think about people who are live in villages and they not even know what is digital transactions in that case there will be a huge problem for them.
First mainly the government as to trainee the every individual about digital payments and then they can start the method.
And also there is a problem with internet connections.
|Sailuu said: (Jan 27, 2020)|
In my opinion, digital payments to go cashless is a very good thing to use. In our society, every man or woman earn money with hardwork so mainly the rural people are mathematically run their lifestyles so they won't be able to spend money easily, for example, they go by auto to somewhere they have 20 rupees but charge is 15 rupees they didn't have change and auto driver also didn't have change so here the excess money credit to auto driver but debit to the common people. For those illiterate or common people or rural people must want this digital payment then they save money easily. Some of the people think there is most from things done this digital payment but the government increasing more security alerts so we didn't have any problems for using this digital payment.
|Vikash Singh said: (Jan 26, 2020)|
|Yes, I think digital India is enough for the Indian economy to go cashless but point is to implement in a more effective manner in which less educated people can also use their transaction by cashless mode eg Paytm etc govt should acknowledge people in about important of cashless. In a rural area, people should use the cashless mode of payment as imperative. Then only we can say digital payment is enough to Indian economy cashless.|
|Shivani said: (Dec 20, 2019)|
As the question is about secure payments, the apps provided for digital payments are not completely secured and also there are risks of frauds and cyber attacks. Talking about the citizens of India most of the citizens are not aware about digital payment methods and would become the victims by fraud people. So we are not ready now to go cashless.
|Ankesh Sinha said: (Dec 18, 2019)|
|Somehow it is possible for the hacker or say cheaters who fool the common person of India (i.e) who is not aware enough about digital payments. Day by day there is increasing demand for digital payments across the country to complete the digital India dream but limited to cheat and frauds.
It is necessary for the government to take necessary actions to resolve the root cause of online frauds.
|Shazen said: (Nov 22, 2019)|
In my opinion, India is heading towards digital payments. The use of digital payments have increased in India in the last two and three years.
But the most important point is "are digital payments secure enough for the Indian economy" I think still there are many things to do in order to make digital payments secure enough to go for a cashless economy. Although, there are many security features in place while doing digital transactions. However, in recent times we came across many breaches, thefts, and frauds. So it can be said the use of digital payments/platforms does not secure enough so far.
In India, most of the population lives in rural areas and they are not confident enough to lose their hard-earned money to waste. There is no doubt about it that internet connectivity has reached every corner of the nation but there are lots of elderly and illiterate citizens of the country who are not aware of the functionality of digital payment modes. The lack of awareness is due to two main reasons.
1. Lack of awareness.
2. Highly secured digital platforms.
I think the above two reasons contribute a lot. These are restricting to the Indian economy going fully cashless. In cities, peoples' literacy is too good to understand the benefit and need for digital transactions. On a daily basis, we see a lot of Apps are providing a very good offer for doing online transactions that encourage people to be part of digital payments.
So, in conclusion, we can say India is not ready to go for the cashless economy at present.
|Avi said: (Nov 17, 2019)|
|In my opinion, digital payments are not enough for the Indian economy to go cashless at least untill before creating awarness among people because in India most of people are not very much aware of digital things. India is one of biggest user of mobile phones in spite of this most of people are using it only for communicating with each other or use it in very light manner but when we talk about cashless it means everythings i.e. money hence before going cashless government should aware people about how to do secure transaction or how one can secure ones smart phones and more things.|
|Riya said: (Oct 3, 2019)|
|In my opinion its not secure for the Indian economy to go cashless. Its true that payments are done easily through digitalization. But when it comes to rural area, they are not aware of these kind of online payments and they don't feel secure, they still believe in banks. By the recent survey most of the phishing attack happen in India. More steps to be taken to make the transactions more secure.|
|Priya said: (Sep 27, 2019)|
|In my opinion, digital payment are secure. Digital payment is saved the time because you can and transaction the money in other bank accounts very easily and big amount of money you can easily transfer nowadays maximum people are using paytm, phonepe and with the help of application easily transaction money two other people and bank account.|
|Diksha Jain said: (Sep 8, 2019)|
|I think just digital payment can't create a cashless India. Digital payment can only be applied when there is financial inclusion of whole country everything thing has its pros and cons but just because of its cons we can't deny the idea of digital India. Digital transaction save our money, time. Our government can show us the way through which we can solve the problems but initiative must be taken by us. We can see we have more advantages than disadvantage by cashless transaction.|
|Prachi Prabha said: (Sep 4, 2019)|
|Advantage- digital payment is secure and easy for the transaction. We say that time is money so during payment no time is required. You can not take large amount of money with you but through digital payment, it happens. We can also save money from thief. Digital payment is more secured through OTP (one-time-password) and biometric. It also reduces corruption.
Disadvantages -our most of population are depended on agriculture in fact 65% so they are not aware of this system n they are not educated. In fact, they think that it's not trustworthy, so they go to the bank and deposit or withdraw their money. As the report, the most phishing attack is performed in India. There are various apps are used for payment, paytm is one of them, everyone is aware of this app, the app is made by China. A/c to economic parameter world war 3 would happen then they can withdraw all amount through the app, so India becomes helpless's.
|Saurav Suman said: (Aug 22, 2019)|
In my views, Digital payment is very secure and easy for the transaction of money.
But I think India is not ready for the digital transaction because it is very difficult for those people don't have an android mobile and also for those people who are uneducated. In a rural area, we can see that people do not believe in the digital transaction because of fraud.
Even now some people go to the bank and they deposit or withdraw in the bank. Because they trusts the bank, not in digital payments.
|Gaj said: (Aug 18, 2019)|
|I think India is not ready for the digital transaction because it is very difficult for those people don't have an android mobile and also for those people who are uneducated. In a rural area, we can see that people do not believe on the digital transaction because of fraud.|
|Swati Jha said: (Aug 18, 2019)|
|Hey, everyone, this is Swati Jha.
According to my opinion, digital India launched with a vision of digitally empower each and every citizen of our country. The foremost challenge is to increase digital literacy in the country. I just want to say that India has already progressed enough digitally but we can't say this is 100% secure because every thing comes with some pros & cons.
Cons are it's difficult to access everything online for those persons who are not aware of internet and technology that much n also for those who live in rural areas and thought that these are totally insured. But if we follow the set of rules & guidelines that need to be followed to stay secure with online transaction then I must say this is not that much difficult to tackle, and also awareness plays an important role when it comes to the online transaction it's our responsibility to being more alert n also aware others. It is also essential dt people upgrade their application from time to time when a new update is available it also help to improve security level. If we do this then I think the Indian economy is ready to go cashless.
Thank you so much.
|Siran said: (Aug 11, 2019)|
|In my point of view, India is not ready to go 100% cashless because of the undeniable facts like poverty in some part of our country and also uneducated people lack awareness among them. They actually don't know how to use the servies and their terms and conditions. According to the report of the Qualcomm which is one of the American chip maker company, there is no Indian e-wallet company is providing hardware lever security which is a key factor of cyber theft. There is also a network and bank server issue in some region of our country. Although as we see from 2005 to 2019 there is tremendous increase in digitalization digital payment is nowadays is easy and fastest mode of transaction it kept all the end to end information of data whatever is send is received or not but we can't deny the fact that it is mostly applicable in urban areas where people are educated and aware not for the people who struggle hard to survive their daily life.
Yes, digital payment is safe nowadays but India can't go 100% cashless because of its rigid undeniable facts.
|Pawan Bachate said: (Aug 10, 2019)|
In my opinion, this is the current relavance topic. I would like to say now India is ready for 100 % cashless transition. But the problem arise here is all digital process is enough secure. There is no doubt that is time consuming, fast process but some people specially uneducated don't have knowledge about that so first upon we need to try create general awareness in people through arranging special workshop & training.
Even that we can't do 100% cashless because in the Eastern state have problem of network. And many time bank server problem also. Government should give guarantee of security because nowaday's cyber crime is one of the biggest challenge of the digitalization.
|Maneesh Mishra said: (Jul 24, 2019)|
|In my point of view, considering Indian geographic condition, India should not go with 100% cashless without educating the people about cashless payment. India is an agriculture based economy, where most of the people live in a rural area. In a rural area, they don't believe in online mode payment. There are two reasons either they don't know online mode payment or don't believe in the security of payment. India has a large population, as well as some area like UP, Bihar, Odisha and northeast state, have not a good network. I am not saying that cashless mode is wrong, it is very fast, less time consuming and provide 24-hour service as well as we should also keep in mind its side effect.|
|Rajneesh Mishra said: (Jul 22, 2019)|
|Good afternoon everybody.
My name is Rajneesh Mishra.
Today, I am here to talking about cashless economy. So, according to my point of view, I m favour with a secure point because our government going to digitalization and its a good achievement for us. But in the present time it is working in cities and they all accept the digital payment but in rural areas they not aware with digitalization I m not talking about all rural person but most of all people don't believe in digital transaction, he thinks that is not secure, so government should launch some scheme about how to aware the people towards digitalization.
And the second thing the e-wallet company should secure our system more because hacker finds the different ideas to hack the system.
It's all about my view.
|Saiyad Faizan Ali said: (Jul 4, 2019)|
|In my opinion, India is not ready for going totally cashless.
1. As per the report revealed by Qualcomm which is an American chip maker, no Indian e-wallet company is providing hardware level securities which is one of the most essential factors for preventing cyber theft. It also provided the solution by revealing that it is working on its chip in which many new modifications will be made to ensure the prevention of such attacks.
2. RBI, which is the leading operator of Indian economy has still not provided mandatory guidelines for the e-wallet companies.
3. As per the report, the most phishing attacks are performed in India.
4. In the states of UP, Bihar, Odisha etc there are no proper facilities for digital payments and people still believe in cash transactions.
|Chandra Kant said: (Jul 2, 2019)|
|I think that India has progressed enough digitally to agree with this topic. We can not say it is 100% secure as we can not see how it is happening digitally like magic so keep on transacting online as there are cyber crimes happening I have heard of. We need to consider and support online transactions with security precaution and care. In fact renowned banks like SBI, Axis, BOI are having a partner company naming cpp India for the security of the credit and debit cards of their costumer on insurance. I think it can be made up to by our little efforts which can make old and needy people understand that it is very easy and secure to go with. We should give them a Demo how will it work. That's all very soon we will be totally in digital currency.|
|Chandradangwal said: (Jun 11, 2019)|
|Hello good afternoon everyone.
I am in favour of the topic. Digital payment is very secure and easy for the transaction of money.
It saves ous time.
It is also a step of digitalization for our country.
We also can save our money from the theft.
And we are able to check the bank balance at any time and anywhere just with the help of our mobile phones it is really making our life easy because the transaction of money is important for everyone life.
We should accept the system of digitalization.
It also resolves the problem of change because when we are going to any shop there is a lack of changes should the shopkeeper forcefully give some other thing in the exchange of money.
As we all know that we have to change something in the system like awareness the people who are not educated how they got to know to use of digitalization. Supporting to us what are the main things should have to be changed.
There are some basic suggestion for me to changing the system of the things which make us easier to all the people for transaction money as digitalised.
First of all the app developers design the easiest pattern for the transaction also give the facility of language like in Hindi or maybe audio by which uneducated person also can understand how we can transaction the money with the help of our mobile phone.
My second opinion is that the government should do some door to door campaign and advertisement in the television audio advertisement in radio also by the help of newspaper articles drawings for how to transaction is easy. Because we all know that we the Indian people are very attracted to the things of television send you the product because of their advertisement in the television So, As the same process utilisation payment transaction should be used by the all people.
So, I conclude my points we should take the step of awareness by the help of television advertisement for the transaction and make our India economy to go cashless and one thing also I want to share everything has their pons and cons. I listen to someone says it is not secure because of the hackers so as the same if you take your money in the wallet also be not secure by the theft.
|Atul said: (Jun 9, 2019)|
|I think there is no one who can say that India is not ready to deal with digital payment. We are here talking about the country who is establishing their own space satellite in the moon and according to my point of view India is ready and can set an example for corruption free transaction. Nowadays we can easily pay money to vegetable market as well as in the mall without the loss of a single paisa. Earlier we have seen that if they don't have to change we were forced to buy chocolate and vegetable forcefully but now we buy what we want.
And I summarise my point that India is ready but the customers are not ready to get the advantage of that.
|Ragav said: (Apr 29, 2019)|
|In my opinion, digital payments are growing to be secure in many ways. Apps such as google pay, phone pe offers payments between any bank A/c, 24/7 monitoring is done to prevent any unauthorized access, Bhim the government provided app for upi fund transfer is also taking measures to be secure day by day. We cannot just load all the cash digitally and move to a remote place and buy goods there it is difficult without some cash in our hand for example- paying for street foods, in small puncture shops as they don't know what digital payments are they need money cash on their hand. I don't say that digital payments are insecure govt should educate people on digital payments and make them understand the use of it, by this if digital payments reach every nook and corner of India the govt automatically take steps to make them secure.|
|Anand said: (Mar 23, 2019)|
|From my point of view, I think India is presently not ready to deal with digital payment and make the country cashless. Still, most of the people have strongly believed in a cash transaction. For example, if we want to pay any amount in metropolitan and cosmopolitan cities like Delhi, Chennai etc in India through digital payment that is acceptable I mean we can easily pay through digital mode. But on the other hand, if we go to the rural area in north and south states than we will face the problem. Especially if I am taking the example of a rural area in Bihar, Jharkhand and Uttar Pradesh. There is no changes in their thinking towards digital payment it may be because of lack of awareness, lack of infrastructure, digital communication and other digitalization. If we are talking with respect to economy dan the main reason is -most of the people depend upon primary economy i.e. Agriculture and them have strong faith upon cash payment because lack of education they don't know how to operate the digital mode. Ok, I m giving my experience, two months ago I was in Bangalore and everywhere I paid through online transaction bt, just two weeks ago in my home town Asansol I went to repair my mobile and at last I wanted to pay through online but not accepted by the shopkeeper the reason behind this because of security they did not believe in digital transaction or, we can say lack of awareness. So, it is my perception because of that I think at present India is not ready to adopt cashlessly. The best solution is to aware the people, educated them at least up to a certain level on which then can think about the benefits of digital payment.|
|Mira said: (Mar 9, 2019)|
I totally agree with this topic. Now we are living in 21century and we had faced many changes in technologies cashless payment in my view is one of the great achievement. People can carry a large amount of money in android phone and can be tension free. I think digital forms have high security. Its risk free also. Today India is said as digital India and in coming days our country will totally convert in digitalized.
|Shweta said: (Mar 5, 2019)|
|I'd like to go in favor of the given topic. With new age times, new age technology is coming and and we all need to update ourselves with the changing times. In order to move forward, we need to switch to digitalization as it serves a lot of purposes. Making digital payments online, would eliminate the need of carrying money personally, which in turn would reduce the petty crimes that happen on a daily basis like theft of wallet and etc. , thus reducing crimes also. Digital payments saves time also as we don't have to stand in long queues waiting for our turn. The only problem that I see as a con in digital payments is that it is still not a very secure mode of payment, since it is always under attack by hackers. However, digital payments have more pros than cons, hence I stand in favor of it.|
|Piyush Tyagi said: (Feb 22, 2019)|
|I think the digital payments are very helpful in making transactions however these payments gateways are prone to hacking which they claim is not, however, continuous improvement and upgradation in technology are required to keep the best for use.|
|Prakriti said: (Feb 19, 2019)|
|Good evening friends,
We all are heading towards digitized world which is making our life easier and easier but do we exactly know that it is secured enough to rely on it. According to me they are using hardware level security which is mandatory for secure online transactions, if we are aware of the little little points which is prescribed generally which we ignore usually to stay secure so its not very difficult to stay secure with digital payment system. Its our duty to be upgrade or update our application when new version with new security and facility available. These digital payment are secured till we are alert on digital security and make other people aware too. It should be rectified on a daily basis and improvise continously otherwise India as a cashless society is a 'dream'.
|Chinni said: (Feb 14, 2019)|
|Unless and until we share our password and OTPs this is going to be very useful in many cases through digital payments. It has become easy for any amount to transfer, payments, recharges. Etc at any time securely.|
|Abhishek Jadhav said: (Feb 6, 2019)|
|Yes, I'm agree with the given topic that is *are digital payment secure enough for the Indian economy to go cashless*.
Nowadays we all uses smartphone and we are very well connected with various technologies. Such as Google pay, Paytm, bhim. Phone pay. One thing we all have to remember these all apps have very good security. If you don't share your password with anyone then there is no risk.
|Tangled said: (Jan 29, 2019)|
|Good evening friends,
Now the given topic is: "Are the digital payments secure enough for the Indian economy to go cashless". These days every thing is going in digital form, we may get a situation to pay money. At once what we can do, nobody will help you, particularly in financial aspects. Hence there is no need of carrying money in all the situations like a smart phone. Nowadays every individual is having a smartphone so if you are carrying a smartphone, it could mean you are carrying all the belongings related to you. Where ever you are? Whatever you are doing is not necessary. You can comfortably pay the bill or transfer money easily with secure payment through online banking and net banking.
As this method is completely based upon our profile. We should not share our personals with anyone that is the main drawback for these online payments and net banking. Cashless payments provide high security for the users. If we follow the right way then we can make our India as a "Digital India" & also it is the time-saving process, we no need to count the money. Every coin is important because we are earning it so it is responsible to know how to spend the money. For suppose if we are paying the amount by cash, We may not have the chance of getting the remaining amount but if you go through the online payment method where we can get the remaining amount back.
|Rajdeep Roy said: (Jan 29, 2019)|
|Every form of payment systems has some form of risk associated with it.
Take for Eg. Payment by cash, it has a risk of theft, robbery, damage of currency notes, use of fraud currency but regardless of all of that we use it as a medium of exchange due to the huge benefit of money being easy to carry, widely acceptable and availability in different denominations.
Likewise, cashless payments have a huge risk like cloning of cards by fraud machines, hacking of bank accounts, stolen card details and OTP. However, all these risks though very grave can be avoided by awareness of cyber crimes and by being careful.
Therefore, in conclusion, I would say that though cashless transaction has some risks associated with it due to the huge benefits, we must work towards a cashless society as well as continuously work towards making cashless payments more secured to the growing skills of fraudsters and hackers.
|Chetan Patil said: (Jan 26, 2019)|
I think digital payment with trusted payment gateway is good for the Indian economy to go cashless because see to remove corruption from the country we have to take our steps towards cashless India. And for that we have to implement all possible resources that will help us in implementing cashless India and secure digital payment will play a key role in that.
|Charles said: (Jan 22, 2019)|
|No, digital payment made our work easily we can even pay at midnight and we can recharge a distance relative phone from our palm device. Its having few negative sides that it.
1. Less Security.
2. No Awareness for an uneducated people.
Even though there is SSL certified site which blind hackers eyes but still there is a possibility to hack our details. There is no 100% guarantee for the secure online transaction!
Secondly, there is no awareness for using this online transaction. Hacker cheats people by saying they are talking from particular bank as manager and ask their ATM card number by saying its lock like that and also cheating by sending OTP as their security code and stolen more than thousands of rupees from poor people in one day. So for the secure cashless nation, we need to bring awareness to all people and then implement new technology which avoids money loss.
|Rakesh said: (Jan 14, 2019)|
|Yes, Because in this country have a big population and we need a big economy, making digital payments is secure in India because very strict terms and conditions of Indian government on Banks which are member of RBI in some area fraud apps and local banks are miss generating public by cheating them so in this India everything is secure and banking also very secured and this is helpful to save the time of public and they are using their account by themselves only and each transaction will be recorded and auto-generated messages by banks I think digital payments have enough secure.|
|Neha said: (Jan 5, 2019)|
|Digital mode of payments are not only time saving but it also reduces corruption and many more crimes eg: theft, loots etc. As an example I would like to mention that earlier scholarship to students were being given to the student by cash to which many times the student could not assessed as it was getting finished in the middle of the journey. But now a days due to digital payment all the student are getting their scholarship. So we can say that it reduces corruption. On the other hand, it has encouraged cybercrime. Nowadays it is very common for getting a call and being asked for atm card no. And atm pin no. To which people who are not aware of such frauds become a victim.
So, I would like to say that the digital economy is good for those who are educated and aware enough and follow precautions. They can go for digital payments as there is no such good time to go cashless. But for the people who are not aware and educated enough should go through cash. So instead of cashless, I would like to suggest less cash society. In fact, all the people should have a little cash in their hand since network cannot remain good in all the area for all the time.
|Niraj said: (Dec 30, 2018)|
|If you are aware of the types online threat lurking in cyberspace, you can guard yourself against most financial frauds. Here, only awareness is the key. Follow all the safety norms and you are good to go. There's no such good time for going cashless. Threats are present today, they'll be present tomorrow. Need is to keep yourself updated and know what to expect. Here's a Pro-tip: Maintain a secondary account with just the amount you need to carry out online transactions. This way you keep your primary account beyond reach, in the event you're a victim of online fraud.|
|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.|
|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.|
|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.|
|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.|
|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.
|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.
|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.|
|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.|
|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.
|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.
|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.
|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.|
|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.|
|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.
|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.|
|Ash said: (Sep 19, 2018)|
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.
|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.|
|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.
|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.
|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.
|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.|
|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.
|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.
|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.
|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.
|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.|
|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.|
|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.
|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.
|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.
|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.|
|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.
|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.
|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.|
|Bishal said: (Jul 28, 2018)|
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.
|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.|
|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.
|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.
|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.|
|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.|
|Anmol Purohit said: (Jul 27, 2018)|
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.
|Raviraj Bhosale said: (Jul 27, 2018)|
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.
|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.
|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.|
|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".
|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.
|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.|
|Rojae said: (Jul 26, 2018)|
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.
|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.|
|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.|
|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.|
|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.
|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.|
|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.|
|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.
|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.|
|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.|
|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.|
|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.|
|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.
Are digital payments secure enough for the Indian economy to go cashless?
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