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

Hii guys Shubham here,

Digital payments are very good and easy for this young generation but what about the elders and childrerns of below 13-14.

So we can't go cashless completely.

Yes, the digital economy is very safe and secure. Because corruption of the nation Will come to end. The Government should bring awareness of it. Many people do not know about digital India. They can advertise in t. We channel to know about the cashless economy to village people.

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.

Yes, digital payment is a good step for the development of the country, it makes an easy way of banking through internet but there is a very big deal that most of the rare areas where people don't aware about that. First thing is that government should provide a better infrastructure about digitalization.

Another thing is that not only government, we must participate to aware the people.

Hello, friends, the e-payment is had many disadvantages, they are given below,

1. Limitations on amount and time.
2. Password threats.
3. Risk of being hacked.
4. False identity.
5. Anonymity and privacy concern.
6. Additional cost and efforts.
7. Loss of smart cards.

Hi,

Yes, Digital payments are secure. India is a developing country and development indeed, calls for changes. Gone are the days when people had to carry hard cash in brief cases. In today's world, it is highly risky and life threatening sometimes.

Digital Payments are safe and the path of transaction can be traced. It even helps control corruption to a great extent. With digital payments employed for any or every transaction, the black money generated can be regulated. The Digital Payments can be made very secure by the use of various anti-theft firewalls or technology being invented. We are part of an IT era and this can be used for our benefits. Therefore, Digital payments are secure enough for the Indian Economy to go cashless.

Hi, I'm Shreya,

It's true that today digital economy has grown and there are a lot of people using them.

But thinking about making the Indian economy cashless as a whole is not a very good idea in my opinion, as a significant part of our society is still illiterate.

In my opinion,

Even digital payments reduce the black money flow, saves the time of the people but, applicability this system not an easy thing.

First, the problem we face with the security, Even the well-educated people also not even in a position to secure their social accounts (FB, gmail) etc. They easily provide their account information for any simple advertisements.

Coming to people lives in the rural areas, they not even have the proper infrastructure for accessing the internet. After introducing the ATM's (2003), it took nearly 10 years to adapt to that system. So, for handling this digital system it takes more than 10-20 years with improper knowledge of security.

Finally, India will go cashless but it takes very long time to adopt that system. It requires required infrastructure with complete awareness on digital transactions along with the fully-fledged security of transactions.

According to my view, it's a really a good initiative for India. If India goes for digital payment corruption and bribe will be less.

The Government will know about the transaction in the way corruption will be less.

Also, there will be more advantage, India will be more modern and developed.

My name Avichal,

If talking about the digital payment then it's a good concept for India go toward the digital India.

I have been using this digital payment since 2 years. There is many advantages of online payment time required for payment it less also we will not have go to the bank and make a transaction and stop the growth of the black money. We directly prevent the corruption and also we have a smartphone then we easily make digital payment.

Thank you.