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

Hi.

I am Abhishek.

I would like to mention some points which should be focused.

Digital payment is good for reducing corruption, saving time, improve the transparency etc but point should be noticed that how it is secure.

Before go through the digital payment to make Indian economy to cashless,

There are very village where we can't access the internet, if there is the network problem is there.

And also less security to our biometric data like AADHAR.

And there should provide awareness program to the people.

Digitization should be at ground level.

I think people living in rural areas must be taught how they can do digital payments by starting campaigns and also government should employ few people in banks who could teach rural peoples how to do a secure transaction. In this way, some people would also get employed and maybe the problem would be resolved.

They are not secure enough for the Indian economy to go cashless because there is still network and internet problems in rural areas of our country and major of the rural areas population is not literate enough to know all the security measures related to money transfer or any other transaction. Any third party can take advantage of that and can access it. Apart from rural areas security of all digital payment application needs to be more secure and reliable to rely on them for India to go cashless.

Hello friends,

It is very interesting topic to discuss.
As technology develops it is important to update ourselves.presently almost all sectors are digitalized it is better to us to move towards digital life.
There is both advantages and disadvantages in this also

Advantages:
1.It will make our life easy
2.it saves time
3.digitalization provide 24*7 availability
4.it reduce corruption
5.helps to improve our nation

Disadvantages:
1.less secure as hackers hack it
2.lack of knowledge
3.availability, because digitalization totally depends on internet and power
4.it causes unemployment
5.it increase e-waste

First, the government should train illiterate people about digitalization. And we also should take initiative to train those people who are not aware of digitalization.

As every coin has 2 faces it also having both advantages and disadvantages.as it is having less no of disadvantages I support Indian economy to go cashless.

Thank you.

Hello.

Everything changes with time. Therefore we have to step on the era of the cashless or digital transaction. As we can see the condition of environment that how we are disturbing it so frequently that we are no left with other than using alternative ways. Therefore.

1. To save paper digital transaction is necessary.

2. To step up India's economy faster it's better to prefer such method.

3. It is easy and convenient.

4. Reduces time consumption. Just a Matter of seconds.

5. It's the need of the hour.

In my opinion, the cashless transaction is very difficult to implement in India. It is a good idea to improve our Indian economy so many countries using digital payments because the government will be implementing first in urban area peoples are very educated in an urban area then after implementing in a rural area.

In cashless transactions both advantages and disadvantages are there, in that some what I shared to you,

Yes, digital payments are very easy for this generations. It makes easy way to banking through internet.

Digital payments are safe answer secure transactions and also traced. Even it helps to reduce corruption.

Disadvantages.

The digital payments makes extra charges and services. Time consumption and also hacking.

But most of the thing is that woithout awareness, India will not take very long time for cashless transactions.

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.

According to me, digital payment is not secure unless more security does not provide in rural areas because in rural areas max person don't known about digital payment so person are victim to be cyber attack. I think after 6 to 8 year digital will secure because knowledge about digital payment is increasing day by day.

Thank you.

Most people don't aware about the cashless system. Most people don't have a good digital device. Most peoplein India are poor people they can't afford the infrastructure. Then, how it introduce in India. But cashless India is better idea.

First govt should provide good infrastructure to poor people and make them aware about it.