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

For a country where a wide range of diversifies exist and each set of people have a set of diversities most of the time having subsets and supersets in themselves will lead to greater chance of confusion and insecurities when they try to step out of conventional methods. We must safeguard their privacy concerns by making the digital platform 100% foolproof and there has to be a strict act made which fastens the redressal mechanism irrespective of set the individual belongs. Most important is the provision of accountability and responsibility of government to create simple and straightforward awareness of public platforms available and the security they provide for this transactions so that the real black money comes into digital transaction for a considerable time period and get caught through proper mechanism by issue of notice for proper justification of transaction, in case there is no proper justification provided in time, must be checked in with further complications. Once this mechanism comes into the notice of the people who create this money, there must be a time gap in between where they will surely have some other route, and that must be found out through intelligence agencies observation and the quick ordinance has to be passed to act on. If the process is so, then we must be proud of our government which in direct sense can increase its trust along with great show of integrity, timely decision-making and honourable sense of intrinsic responsibility and all the sections of society cannot adapt to this cashless economy and there must be proper sources of identified national banking institutions and non-government organisations in their reach to help them with their issues solved in no time.

But we must also remember that if we aim to reduce black money and corruption issue through digital transactions, we must have proper suppression mechanism for underground elements and proper mechanism and immediate process to tackle with this illegal mechanism and again ensure the same people that they may proceed with atmost trust. Ironically, one must remember that Change begins from within but not through online access and digital platforms.

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.

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.

Hi from my point of view digital payments secure for the Indian economy to go cashless there's so many advantages of online transaction because due to online transaction our government can access every single transaction detail of individual that's why there is no fear for black money instead of that there is some disadvantages if we go cashless then we vulnerable to Cyber world hackers can get a lot of money from any account of individual or from any institution but it is quite impossible to get directly from Bank or any other financial institution one of our friend tell that our country did not spent a lot of money for decrease the cyber crime as compared to other country.

Security is the biggest issue now a days in the digital world with any application requesting you to allow the access for your private data. And even if the privacy can be protected from the digital payments application it is long way to go for them to make Indian economy cashless as we will need to educate the population about the secure gateways for payments.

I am against cashless economy. Because I don't find its useful for grassroot level people. I just want give reasons which really support my thought against cashless economy.

1. Our literacy rate is not sufficient to go for 100 % cashless economy.

2. Concerns with security Because it may be hackable.

3. Developed countries also tried for go cashless. But they also fail in that.

Yes.

As we talk about cashless economy it would be beneficial and secure for people because if people will use online transaction they will learn more about things and tend to be digitalized. It saves time because example if we are going to withdraw money from bank we have to go there and do it if we are having online banking we can do it in few minute and save time.

Hi, one and all I Am Deep Shah,

I feel digital payments in India is not yet secures as big chunk of our population does not feel safe to go digital and many of them don't know how to operate new gadget as well as new technology. The also don't know how to pay digitally. So our government should start campaigns for awareness of digital payment and should inform them how safe it is. As of now lots of peoples are moving towards digital payment. The use of Digital payment was very high during Demonetization.

I don't think so that digital payments are secure enough to go fully cashless. It is good for small transaction but for large amount of transaction it's not secure enough to go cashless. As day to day we all are getting news of money is getting stolen by some hacker. Also the people in rural areas are so illtrate that the not even know how to manage your bank account or how to withdrawal money. It'll take time to aware the people about going cashless in India.

In my point of view, digital payments are not secure enough because many of the Indians belonging to villages are not aware of this to a great extent so their accounts may be hacked easily.