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

Agree to the topic and the people who gave their contribution! But if govt wants then India can go cashless in one year also, even then it will be an achievement for our nation too. When Paytm was launch in one village the team went and taught them so well that today that village is a totally digital village. Now coming to our contribution towards digitalization, one of the friend in comment section said that we can make the group of some 4-5 "EDUCATED " people and can help the rural people to learn new things, but really do you think so the so cold "well Educated" people have time in their life out of their personal work ?

Even in India from so long people had that mentality that cash transaction is the best so that we can just have to do a cash transaction, online payment is not secure and all so it is really very difficult to change that mindset, and in the oldage people, it is really difficult.

Though this is good diversification and obviously somewhere it will be beneficial to our national.

Yes, Digital transactions are needed, but before that, we should get our Indian payment gateways to be implemented. How many of us know VISA, Mastercard etc are the foreign gateways and we are losing a lot of money while transactions as service charges to this gateways, indirectly we are feeding them with our money. So, at this point, cashless India is a foolish idea now, until unless we totally depend on our gateways.

And the proof is, as from past 10 months in India, many cashless transactions happened due to demonetization. But still, our GDP went down and going down day by day.

India is a developing country so, digital payment is very important to the economic growth of the country. But In India now a digital security system is comparatively low in secure. Digital payment saves the cost of printing of the money. So, digital payment is secure for the Indian economy to go cashless.

Hello everyone,

As You Know, "Every Full moon has a dark sight" like that cashless transaction has some cons too. But one more thing that should be gain emphasize here that Cashless transactions surely change the Indian economy. But each and every one should know safety measures like.

1. One shouldn't share Credential data like User Id, OTP, Password.
2. Fraud awareness topics should be carried out in Public.

Introduction:.

Indian government has started digital India Mission in 2015. In which pillars like Digital Literacy, Cashless Economy, E-kranti are focussed. This mission is helping a country in almost every industry like telemedicine, e-banking, e-governance, e- commerce which include cashless payment. So it is important to discuss the security of this kind of payments.

Points:
1. There are very few payment system that are secure and most of have some and other problem like cash payment has problem of duplicacy, damaged notes etc.

2. World is moving towards digital, superintellgent era. So India should have cope up with it as we have comparatively smaller economy than developed country it will cost less to convert our market into digital and our flaws can be seen here at nourishing stage only. This will useful in future to ourselves only.

3. India has institution like NPCI, cyber cell which are working effectively and we should believe on them.

So it is always better to do something than nothing.

Only cashless practice will make away our fear of cashless economy.

Thank you.

Hi everyone,

As all agree with the topics but I'm partly agree with the topics, I think making India cashless is good as it helps in uprooting the black money and corruption but I think we are not prepared for this move till now. First, of all our software are not up to date so there may a risk of virus like ransomware and second is the majority of the people in the villages still don't know the meaning of cashless so we can't put it on them. We can only make India cashless by providing electricity, and internet network to the villages and teach and train them about the usage and security then only we can go for cashless.

Hello, Everyone.

My name is Kanishak and I would like to say that now India is developing at a very good pace and it is the need of an hour to go with digital payments because there are certain reasons for it such as the method is totally secure as it requires one's mobile number for OTP. Secondly, if don't have to stand in a queue for doing a transfer of money. You can easily do it through various digital platforms such as paytm etc.

However, one major issue that one can face is based on networking. Sometimes bad network can cause a serious problem.

Digital payments are one of the best payment modes for the country. The best thing about is that it allows cashless transactions and one can access their money anywhere without having cash in hands, They all need for it is an ATM card. Moreover, in a developing country like India, it is important to acknowledge people about such facilities so that they can also get benefit from these new technologies. Digital payments modes are secure as well as very easy to access. Nowadays, nearly all people do have smartphones so they can easily access digital payments. In fact more the digital payments will be used less the cash will be used, which in turn will also save the paper. At last, we can conclude that digital payments should be promoted more and more in our country.

Digital payments is secure method to easy payment without hard money. This process is very good for our economy system. Because it help to govt taxiation matter are also easy managed. And easy we pay to each other.

Use of digital payments are partially enough as India focuses on inclusive growth but this facility of government can be utilised only by middile or elite section of society. Now also there are many places that are lacking this internet facility. 37% of people are still below poverty line. They even don't have proper food to eat then what they will think of buying android mobiles or having net connection. Benefits are there of using digital payments like inc. In transperancy, reduction in black money and corruption, financial inclusion but this all can only be possible if technological system is improved and everyone can afford smart phones.

Thank you.