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

Well, I totally agree that India has a lack of infrastructure, but some or the other way it was to happen it's good that it has happened at this stage as most of the population of India is young and vibrant they can be easily taught about the digital payment mode than the elder people and this can be easily carried to next gen. I think most of you didn't understand the meaning of cashless economy with cashless economy government means less cash and more digital but not no cash and only digital. Around 50% of the population lives in urban and this number is still increasing. We can make an excuse of infrastructure in Rural India but what about in the Urban area, if say at least 35-45% population started doing cashless transition, our economy will boost to a new height. So, it a responsibility of urban people to make use of less cash and make it more available rural people. Beside that government has started a scheme to connect 2 lakh villages with optical fibre. On the top of that many NGO and government organisation are working towards educating people, benifits of Digital payment.

According to my opinion, digital payments increase the country's economy and will prevent from corruption. But on the other side, most of the people in rural areas don't know how to use e-banking, cards etc. And they can't afford money to buy smart phone and recharing with internet packs. To have advantages for government, it should create awareness to people and reduce the service tax and providing some schemes. As the technology is increasing, the hackers rate is also increasing. So, we have to still improve the technology and should have proper cyber security. Whatever may be the step the government takes, first people have to take initiative in following it.

I personally feel that digital payments are an efficient tool. Corruption is at its peak in present urbanisation. Corrupt citizens are trying to hide their source of income and expenditure by various means like oversees bank and law firms. Digitisation will end all of it as it shall monitor a person's or a firm income and eventually lower the black money and various scams that we hear about nowadays, thus increasing transparency. Although, there are a few drawbacks to it like cyber attacks or unauthorised access to data, but it can me eliminated by employing updated version of software and regulated security system. Talking about the backward classes, empowering them is a tool. It's necessary to give the individual the platform to understand the digital economy. If we don't give them a platform we cannot think of making India better.

Hello everyone. In My point of view,

Cashless payment system was only important things of fewer corruptions, avoid black money and economic development.

But the people get more problems on the digital payment, they didn't know how to use the process of digital systems. Suddenly changes are not accepted by everyone. They want time to learning. And the task will be gonna next level.

Dear friends,

As the topic demands a thorough discussion on ARE DIGITAL PAYMENTS SECURE rather AFFORDABLE and when it come down to line of online transaction security, we are still naive or gullible as comparing to USA, Japan etc. Today if we look at the condition of today's internet technology in India, it is too vulnerable which got halt many time due to the excessive user but surprising matter of fact is that not half of our population is actually using the internet. So now if we desire to go cashless we need to answer some question to yourself first -.

1. Is Indian current technology can facilitate good net facilities to every user of India.

2. Will after augmenting users for online payment, our transaction will be safe from any kind of thread like hacking, data lose (due to the excessive user).

After this I can say we need to firstly improve our technology, cyber security and cyber laws after then we must encourage people of India to go for online payments.

Hello, Myself Ajay Rajpoot.

Yes, but not for every person in India. Almost 46 to 50% of Indian population living in rural area. At there is no proper facility are available. Electricity comes only 5 to 6 hours at day time. Then, how did the macro atm and other modes of the transaction can be used?

Also, the people are not educated. It is also very risky like account, atm are hacked nd mobiles phones are stolen. Thank you.

Indian economy becoming a cashless economy is truly a dream come true for we Indians. There is no dark cloud without a silver lining so I the case here. Transforming to a digital economy demands the need for greater cyber security measures. The common man should be made more aware of how to keep his personal information like pin code, password etc. Secure. Digital penetration into the rural areas by means of broadband connectivity & supply of the smartphones is the need of the hour. We should thus join hands to help India become cashless & thus fight evils like corruption, back money, counterfeit currencies & tax evasion.

Digital payments, in a long run will probably make India a country free of corruption but let us not overlook the fact that not all the modes of digital payments are secure enough yet. It is not hidden that many of the mobile wallets have been hacked already. This prove that we still have to work on the software development for digital payment to make it free of loopholes so that it cannot be easily attacked by the black hatters. If this is done then Digital payments are surely going to make India a place without liquid cash.

Now, talking about the e-wallets reaching the rural and under developed areas, smartphones these days are not far beyond the reach of the common masses also the government is trying its best to make people aware and understand the need of going cashless. The educated and aware youth have also taken initiatives to make the rural and remote area people aware.

Summing up, the efforts are from all the sides to make India a better place to live in, free of corruption and from a developing country to a developed country.

According to my point, the digital payment is not good one for who those can get the aware of online transaction.

But seeing through our country population most of the peoples are lives in rural sectors.

So first goverment do the make an awareness about the digital India in the village lived peoples.

That only possibles of active participation of our responsible authorities and government.

Digital payment also not secure well. So also put the good protocols for authentication of transaction. Then only peoples I'll trust.

In conclusion we need digital India but a proper manner.

Thank you, .

Digital India is a really very good step taken by the Indian government. Digital India helps the people to get rid f of the queues for the money transfer, bill payments etc. But this step is not taken in the correct manner. Everybody is not aware of this. Before making everything digitised people should be aware of this and the correct use of it. As we know that every topic has the pros and cons : so the pros for making digital payment are people can go out without carrying the money just everything will be on their tips. It will also help in reducing the use of black money. And the cons are cyber hackers who can hack the account and misuse the account also the lack of education among few sections of our country.