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

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2106 comments Page 1 of 211.

Naman Gupta said:   7 years ago
Hello guys,

Talking about the security of the digital payments, I think they are secured enough for cashless transactions. India is having well defined anti-firewall backup systems and advance IT so as to be trusted upon.

Actually, it's not the security that bounds us to go for cashless economy, it's the people living in rural areas having no knowledge about how the digital payment is made, such people can be easily fooled or let say can be easily hacked by any cyber criminal. Although cashless transactions save our lot of time and money, reduce corruption to a greater extent, but it's very inconvenient for the people earning just Rs 100-200 a day to receive their payment through mobile phones or any other online method.

So seeing the future perspective of this step, it's a very beneficial step taken but first the government needs to focus more on the infrastructure of the rural areas and once it's developed then India is no far in going completely cashless.

Seema said:   6 years ago
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.

Rutuja Sonawane said:   2 years ago
Yes, I agree that digital payments made our life easier, but only if we are digitally literate. We can see, that India's digital literacy rate is around 40%. What about the remaining 60% population? In my opinion, before adopting the cashless economy, we should focus more on the digital literacy rate of India.

A cashless economy will be only beneficial if the maximum population will be aware of the safety norms and can guard themselves against online frauds.

Trisha said:   6 years ago
Hello everyone.

I think digital payment is more secure and beneficial for our economy. Digital payment means going cashless and making payment digitally.

We don't have to go to bank or Atm for withdrawal of money rather then we can use net banking & use the card for payment or there are some apps which also help for making transaction. Nowadays these apps are giving great offers and cash back for making any payments. These are very simple & easy to use and save time.

As we go cashless so it also reduces the risk of theft.

By digitisation, we are contributing towards our country as it's increasing our country GDPA and growth of the country. Most of the developed countries go for digital payment.

It also helps to reduce black money for our country. By digital payment, the government can keep a record of every transaction so there will be transparency of payment.

As digitisation is going to be future so it will increase employment in several fields like Telecommunication, networking, ethical hacking, cloud computing and many more.

And these days cryptocurrency is becoming the trend. We just can easily make payment through this currency.

There are some disadvantages of digital payment. As hackers can easily hack any device and get all information and get all money. So government need to take strict action regarding this and make payment secured.

It will take time to go fully cashless as most of the people are illiterate in our country. The government need to focus on lower-middle-class family and create awareness among them and teach them how to use a computer and do payment.

It will take some years to go fully cashless and make the whole process digitally.

Anand said:   5 years ago
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.

Divya said:   6 years ago
Yes, it is. Because it reduces the corruption, as every debit and credit transactions are legally recorded. It also reduces the human to wait in a queue, carrying amount from one place to other while doing so he may lose his cash due to thief attacks. It saves time. It reduces burden in transferring amount procedure. Etc.

But the thing is to increase it's awareness to each and everyone especially to elders, illiterate people who don't know about internet usage i.e, digital communication. So to create awareness Government have to do one broadcasting program through televisions as almost every house has a television so that everybody can get an idea, that program must demonstrate the digital banking and digital communication usages i.e, about social media in stepwise to reach everyone in the country.

Riya said:   5 years ago
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.

Nikita Gupta said:   7 years ago
When we talk of Digital payments or transactions, I would agree to the facts that digital transactions are way too easy and secure. There is lot more savings in time. We can easily manage our own money. There is almost nil threat of robbery or snatching. Going cashless will help the government to track the flow of money effectively and also curb the flow of black money overall.

But our economy is not completely ready for this digital environment. Considering the literacy rate of our country, huge percentage of population is still not aware with basic internet and banking facilities. Also, we cannot ignore this fact that our small villages are still lacking basic necessities such as schools, hospital and even water and electricity. How can we think of installing internet facilities in such places?

To conclude, yes I am in favor of India going cashless. But considering present position, it is suitable for cities but whole nation is not ready for it.

Aditya said:   7 years ago
According to my view, digital payment is good for any economy. Everything has certain advantage and disadvantage firstly if we discuss its benefit it carries many benefits people can easily make payment within minutes they will not have to carry cash anywhere. It makes transparency in the economy because the govt will keep a record of every digital payment of every people. Transparency is helpful in stopping corruption in the economy. Apart from this it has some disadvantage in India most of the people are not aware of digital payments they do not know how to make digital payment and we do not have any availability of digital payment in every place. Other than there are some hackers who hack the account of individual and doing fraud it makes digital payment is not secure, that's why people do not go for digital payment they feel that there might be some fraud during digital payment. But to control this type of activities the government has arranged cyber sale who takes care of all these activities. On the basis of above discussion we can say now our Indian economy is not fully ready to go for cashless we will take more time to adopt this system.

Vipin_Sagar said:   7 years ago
Hi Friend, I am Vipin From Paytm online payment solution department:-.

I would like to inform you that online payment denotes the value and literacy rate of India. We know that 70% population of India living in villages and rest in city and metropolitan areas. I know that digital payment is secure enough if you are using it as per the precautions and securities during the transactions.

I also deal with the most of the cases where customer said that I have cheated by your company and you have done fraudulent transactions. But actually the picture is different. Sometimes customer logged in his/her account with another one devices browsers or share the personal information of account. As per my experience the digital payments secure enough for the Indian economy to go cashless. Before using it we should also set the clear picture in mind that" Have done it right during the transaction?".

We know that in recent days we have seen/hear that I have been cheated/looted by this one on online payment. So, I think these are the cases where we created it because we do not follow the securities and precautions during the transactions.

In last, I would like to inform you that if we want to secure the digital payment more, then we have to be aware of the policies of banks and its rules of transactions and we need to aware the people of India who are first or regularly using this payment method.

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