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

I'm apriceate to all my viewers.

A significant percentage of people live in rural areas where the knowledge is assumed to be less for using digital payment modes.

Also many people in rural areas peoples are still not using smart phones as they cannot afford it.

Another hurdles which came towards the digitalisation is networks in India is not up to that level to go India for cashless.

So from my point of view, we should have an eye like in coming next 10 years we have to make India cashless but for that need to put focus and attention towards the activities, policies, laws etc required to implement it.

Firstly, one day will come when we all will be on the same path of innovation and technology. Today we must have to accept that today's era is based on internet and cyber world. And one day our country will also be with the same bar as of developed countries. Although suggesting it right from the moment will be little earlier because our country still lacks infrastructure, education and ability. Perimeter like electricity, computer education, the basic institution needs more attention. We only can think about a healthy and wealthy cyber society after having basic computer education and then it's safety and security.

In my opinion, every thing comes with pros and cons, digital transactions are no doubt helps you go hassle free as it would help you save your time to stand in queues at the bank, plus you always get an OTP on your registered mobile number to secure the payment. Tragedy can happen even if you are doing a cash transaction, for instance there have been people who have encountered snatching of there belongings. It's just that you need to be vigilant and careful enough when it comes to your money be it digital or cash transaction.

In my point of view,

Digital payment is very secure and easy way of transaction but in India 100% cashless transaction is highly impossible why because in India so many people don't know the digital service, some people know only how to do the online transaction, but in case of any problem (minor problem) is there they don't know how to solve that problem. Only who knows the technology they will do digital payments easily. This issue mainly happens in the rural area.

Now come to the metro cities and towns,

These people don't bother about the pickpockets. But they bother about the HACKERS. This is the main problem in this areas.

Alright, let me vent on this topic straight.

"YES! Digital payments are to a pretty good extent secure enough for our daily transactions" but with some CONDITIONS APPLIED. There are some basic privacy setups or some guidelines to be followed, there is a procedure to perform, if done rightfully it is not very likely to be hacked by anyone. The problem here is that we (as in the people of India) have trust issues, due to which we do not even want to get hold of a new technology or anything alien. People do not want to get out of their comfort zone, but we need to. Because moving ahead with new technology is basically progress. I mean, if we talk about ATMs. Frauds did occur with those as well. They still do. But did we stop using them. No. Right. At least the failure rate of digital payments is much lower than that of ATMs. We need to accept the new birdie in town with the same mindset.

I indubitably believe that in a country like India where we need huge celebrities like Mr Akshay Kumar or Mr Amitabh to teach us to use proper sanitary conditions, here trying to lure the people to upgrade to a smartphone from a "Dabba phone " was a huge milestone achieved by JIO.

Now, the only thing left is- The proper knowledge of how to use it and be secure is to be imparted to the users. Especially the new ones. Maybe not now, but once all the tiny its bits are achieved, soon we'd go cashless.

According to me,

Digital payments are quite safe because there are zero % chance that Bank never ask you debit card number or any other internet banking details etc. It is our responsibility to keep it safe from unauthorized person.

We don't have to share our internet banking details, or an OTP during online transaction to anyone. Government of India has provided an Unified Payment Interface (UPI) and BHIM for better and faster transactions. But, before we move to cashless, Government have to think about uneducated people who don't know about digital payment even they don't know how to use it. In this case Government has to provide information about digital payments to rural areas or uneducated people that will bring new change in their life. It will be the huge step for our Indian Cashless Economy.

Unlike cashless transaction, there may be a chances of damage with your cash or even robbed, so to avoid such things and to do go for Cashless payments.

YES, the digital payments secure more since they come under cards too, if stolen also we can save our money the best method of securing money is going through cashless.

No.

I think that there are many hackers who can hack our data so when we feel that we are fully secured then we can do cashless payments otherwise it will be harmful to us and we can be lost our money. So, I cannot say that we do not do cashless payments but when we do it we do it very carefully to secure our money.

I think it's not safe anyone can access your account login password and you can't see him and now you all of using WhatsApp that you can see many offer links in what's app and the normal people don't so much aware on web about the entire details and they are misusing with that details.

Yes, nowadays India is becoming a global power and to race with the other developing countries we must adopt the digital payments, it is true that many of the poor people of India will face a problem with it at the starting but if the govt will provide the perfect platform after some time they will well known about the process. I belong to a rural village and I have seen the change where people are not much educated but everyone is using a smartphone and use ATM they don't know much about the technology but they know the method to operate it. So I must think India will soon take initiative to launch digital payments on a large scale.