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

My self Rayaan.

In my view, digitalization is a great idea for the Development of Indian economy. But we know that there is a famous saying"Sabr ka fal meetha hota Hai". So, even for the increase in a digital transaction, it takes time. But it in future it will really improve our economy.

As we know that more than half the population of India is rural occupied one.

So, most of the rural people don't even have a smartphone, internet connection. So first our duty is to educate them about the cons of a digital transaction.

As we know that government spends a lot on currency making. So, the digital transaction might reduce the budget of currency making.

So let's hope after a success and strive hard for it.

Digital Payment is technically a complex mechanism, but yet we ask if it is secure to carry out digital payments or not.

For a Bank to provide such a service, it must have -.

1. Skilled Employee on digital Technology.
2. IT Budget to provide an infrastructure.
3. Obedience to regulations from RBI and Ministry of electronics and IT.

And finally to make it more secure we must -.

1. Educate our family and friends about this trend and how to safely do it.
2. Strict regulation on banks to constantly upgrade their data centers or IT infrastructure.

Friends as our country is a developing one so every new step here which is introduced takes some time to become a daily habit. As the case may be of ATM, the people were not aware of it, but now it's a common thing for everyone. The Same thing is with digital payments, the thing is introduced and being used the day is not far away when it will be a common thing. As far as security is concerned the transactions are mostly highly secured so no need to worry. These type of steps should be introduced in public with more information so people have more faith on it helping the growth of Nation. The digital transactions will ensure money is accountable and available in the market for people and overall help in nation building.

Hi, everyone, to my thoughts, going digital for transactions like shopping, money transfer is truly a great idea. It will lessen the black monetary ordeals for the government which is seen to be caused to fund terrorism and hawala business'. Hacking is a concern but we can overlook it against state's safety. And for the awareness of the rural area can be made through government-held programmes to help educate the novice minds unaware of benefits offered by going cashless.

Hello, Friends, from my point of view, digital payments are a good step for a better economic system.

India is a developing country and by the cashless transaction, we transfer money from one place to another place in a fraction of the time.

Also, no system, device, and process are fully secure then the point of security is around everywhere our responsibility for safe our money.

Many villagers have no idea about How to use of digital payment Or internet solution is that in older time these people are also not understood to use of bank but in time they use it.

As like that these people also understand how to use cashless transaction.

Thank you.

Hello friends, my name is shyam and I'm going to tell something about this topic.

I think in India cashless economy will be possible if the people (persons who using the internet) will responsible to create awareness in atleast 10 person about the digital transaction.

Many people have write already about this topic but if these people can create awareness then it will really be the great change in the India by your small effort.

You people can aware your relatives about digital transaction.

Without awareness and without your effort India will take very long time for cashless economy.

So, you guys can contribute a lot towards digital transaction.

Thanks.

Hi I am priyanka,

As per my opinion, we are processed towards, how India become a developed country? And it is one step towards it. Digital payments are very easy and it will save much of the time. If India to go cashless then it will stop growth of black money. But as we all see it is not yet completely started in urban areas also.

And it is very difficult to see in rural areas, it takes much more time to do India cashless. But nowadays hackers are also very intelligent so we can't say that digitalization is much more secure than cash system.

Hello, everyone,

I am Sujit. I would like to talk about this topic that is digital payments secure enough for the Indian economy to go cashless?

As of now most of the people are not educated in India. So it will be difficult to make them understand that how important it is. Most of the people are using internet for entertainment but they are not interested to know about India means what is happening in this world and how they can crack their life from this hectic world.

In India there are some villages, there is no electricity yet. So it is very difficult to say about the cashless economy. Day to day India is using the sate of the art technology but still because of other countries India is facing more problem for cybersecurity.

At first, India has to give focus on rural areas where people are not educated and make them understand what is it and why do we need to know and what happens if we will be doing.

I think every coin has two sides. Digitalization is the need of the hour because it will not only help to reduce the black money in the economy but it will also save the time and energy of people. But then again keeping in mind the rural population and the literacy rate in india, I feel India is not yet ready for going cashless neither do India has the required infrastructure to go cashless. There are villages where still we do not have proper electricity facilities, leave the internet facilities. Talking about the security, nothing is totally secured. In the same way, digital payments can never be totally secured. Although different steps can be taken to reduce the uncertainty. So, it's not the security which is stopping us from going cashless but the lack of infrastructure, lack of awareness and the lack of proper knowledge regarding the digitalization.

Yes,

It's obvious that digital payment will make India as a cashless country.

Before taking any big step or decisions there always hurdles in the path but it doesn't mean we should change the path. Same applies to making India as digital India.

Going for cashless we not only save time but also makes India as a step towards a developed nation.

We can be hacking and online transaction is not secure then why to go for cashless but we can have a remedy.

Over this kind of problems. 60% of our population is rural firstly they should make aware about this kind of facility then the only nation can go in a positive direction.

I have used Bhim app developed government which gives a guarantee of safety transaction and online billing.

To make India as cashless India we have to start from ourselves.

Let make a change.