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

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.

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.

Hello Guys.

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.

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.

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.

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.

Hi friends.

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.

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.

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.

Thank you.

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.