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

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.

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.

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.

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.

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.

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.

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.

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.

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.

Yes, you are all right.

But as I experienced many small shops or vegetable, and fruit vendors especially from the village side they don't have any UPI facilities unlike us they don't even want to go totally cashless and sometimes it gets difficult to go totally cashless in India.