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

No, Because as we know that digital payment is done through 3rd party system and that's why there are more chances when we use digital pay with the help of 3rd party app they might be possibilities there our privacy gets compromised.

Digital payments are a very good initiative by our government. Best thing about is that it is not time consuming within a minute we can make payments. We don't need to take money with us all the time. But in rural areas people still don't know about all these payment steps. They feels like it is not a secure method of payment some initiative should be taken regarding this if this is done digital payment method is awesome.

Hey guys.

For me, digital payments are a great success in our economy, We don't have to carry hard cash everywhere to make our payments. Our payments have been made so much easier with the use of smart multimedia. But its more prevalent in the major cities not so common in the rural areas, So there is kind of diversion occurring in our nation which has to be removed, to avoid problems faced by the people in our nation. Government should make sure that valid means should be made available to the people so that they can go cashless anywhere in the nation.

Good afternoon everyone.

My name is Granthana Dutta,

I want to highlight some points, on this topic.

Is digital payment is secure enough for the Indian economy to go cashless ?

Yes, digital payment is secure, reliable, easy and fast.

If I relate with the presence condition of Indian economy I would like to say online payments are so more time saving, so that by using apps we can send our money to bank account. In shopping malls, we don't need to carry a huge amount of money because if it gt stolen somehow and also as well if we are carry our debit or credit cards if cards get stolen we can immediately gve a can to bank and can it easly. For school or college fees we can also do the transaction easliy via online apps.

Also In rural areas I should mentioned that govt so give the people some time and help them to knew how it's beneficial and time saving, because in rural areas, they get scared to use it for there money shortage in the bank bank so they repudiated it easily.

All over these digital payment, is something which is very much help and it should solemmized well day by day.

Digital payments are making our country to move one step forward and that is very good implementation or step made by our government. Even though, it is useful it has some of the disadvantages also. Illiterate people who don't have enough knowledge about this technology will really feel uncomfortable to accept this. So, the government should take necessary solutions for this problem by creating awareness among them and giving some demonstration in the way they can understand. And also say about the insecurities of this and make them even more clear about this. So that people will become more conscious and will not believe the third parties and tried to make their own effort to do such online transactions.

Note: government can also provide them android mobiles and give demonstrations on how to use them.

Initiation of digital payments is really appreciable. In this era even people of rural area are using smartphones and not aware of the facilities so according to me if they get volunters or employess from various bank portals to make them learn about the digital payment it will be beneficial and that would enough for Indian economy to go cashless. Due to the initiation of govt now many people are atleast aware of the digital payment stuff. Also there are so many disadvantages that there are 3rd party for making payments and also there are hackers. The 3rd party payment system may not be minimised due to lack of availiability of system and opportunites but the hacking problem can be solved by online payment security method.

Digital payment is a great initiative for a developing country like India.

I'd like to say that digital payments has its advantages and disadvantages,

Coming to the advantages, Online payments is fast and pretty reliable and about the security issues, I believe there is not much to worry about as IT industry has developed secure ways for the transaction.

If the government issues mandatory digital payment methods, the most affected are the people in the rural areas who earn a lower wage. These people earning 200 bucks prefer hard cash to buy basic commodities rather than using digital payments for the transaction.

Instead, the Government can appoint people to educate the uneducated about the uses of digital payments and introduce new measures to stop cybercriminals from gaining access of the transactions and such, gain the trust of the people of rural areas and start digital payments.

Hello everyone.

Digital payments, as can be deduced from its literal meaning, is payment through any digital medium be it smartphones, apps, internet, mobile banking, e-wallets, anything in the virtual world. The current government is trying everything possible for making this digital payment a phenomena in every Indian household, completely overlooking the fact that still more than 60% of the population don't have access to the most basic requirement for digital payments, "the internetc". Internet penetration in India ranges between 30-40%, which makes it even more limited to implement such a change nationwide. On the security front, some will say that it is more secure than traditional payments, because there will be less robberies. But mind you, we are living in the 21st century. Here robberies are being done on the internet itself. 21st century is a digital book. If you are going for digital payments, you are giving everything online, just on the assumption that the party (bank) concerned will do everything possible to keep your data safe. But still, loopholes remain. There's no doubt about the willingness of the banks to ho the extra mile for making our transactions safe but still they also need the basic infrastructure (physical, technological and legal) to back them. They can't do it on their own. Coming to the physical infrastructure, you need to have a dedicated high speed internet facility, which is a dream anyway, with teh assurance that it will not be down in the middle of the transaction, which none can guarantee. Now, on the technological front you need to have the latest security systems up and running across the network as well as your devices, be it security patches for operating systems or antuvurus antimalware programs, etc. Now the legal front, we don't have any legal act that deals with cyber safety, or the safety of personal data online. So if anything goes wrong, we can't fix the responsibility. Recently, I guess 5 million debit and credit cards of various banks were hacked and the data stolen, forcing the banks to withdraw those cards.

Given all this, it's a good thing if you are going for digital payments. It shows that you have the trust on the system to ensure your privacy and safety. The onus is on the parties concerned to take it on themselves to di everything possible to ensure that the idea of digital payment spreads across the country, not by force, but by motivation.

Thanks.

Hello guys.

According to me, digital payment is the new era for our Indian economy.

Digital payment is secured, easy and fast.

The one with the digital payment have their transaction id with them which can help them for future problems.

For making this digital payment successful in India, government have to make full effort towards our villages. Through the right effort, people will get educated they get the sufficient knowledge they will explore by interacting with the internet etc.

So this is the step which is very good for the development of rural areas of our country.

This digital payment is time saving too.

Busy employees, hard working villagers will not have to stand in long que and make themselves more tired, this will make their life easy too in many aspects.

Hello every one,

Our topic is very good and relevant in today's scenario. The government step towards the cashless is appreciable and needed to our economy. Why because India is a developing country, not developed so this is the best time to go to the cashless economy? Our IT sector is very boom stage and industries and developing in gradually and education sector also has some achievements. Every people are busy at their work anyone didn't get the sufficient time for doing their own works. That time the digital payment is very valuable. The digital payment reducing the time of transactions and the transactions are very clear to anyone, no one is going to make corruptions in the transactions. The major think is that the better using of the digital payments wants to some of the knowledge in using the system or smartphones regarding the banking transactions.

And now also the security of the transactions is in question marked. Why because of the huge amount transactions under the observation of some hackers. It has the chances of hacking account. So the government Wants to take the efficient precautions to prevent these kinds of activities. One more thing is that the awareness of the digitalization in the uneducated people. If the government Do these two works successfully then we can go to the cashless economy in simply and confidently.

Thank-you all.