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

Yes, digitization is a very good step towards security. It is a one step towards technology, but there is still much lack of awareness towards this, which will take some time to modernize people.

No, I don't think so that digital payments are secure enough. Because, especially for people who don't have much knowledge about digital payments, they might get thier account hacked.

Good Evening all,

My opinion is digital payments help us in many ways by using various different modes of payments. Basically, it is secure and unsecure also because most of the uneducated people don't know how to use this type of digital payments and they have to face a lot of problems and it hacks details. The people may forget the passwords. And most of the people use different apps for making payments but it is not secure for the people it will lead to create many problems. It is not secure to use certain accounts in the economy because the number of the hackers are increasing. Digital payment is secure and unsecure also.

They can be said secure but not totally, As Indian economy consists of people involving of different status and of different perceptions. Firstly let me tell obut an above average people (financially). These people are much aware of technology and they even encourage digital payments as it is easy going process and they can see to it and can look at changes thoroughly. But if you take the case of people who don't have any prior knowledge in technology. For them it would be risky and they might not adapt it properly and may not even go dependent on others for financial payments. I mean to say even the payment might be secure but some people may try to cheat them as they are not aware of it. So I conclude its not secure if all the cases have been taken into consideration.

Digital payment is good to make economy cashless. It will prevent money laundering, Tax evasion and black money going in Swiss banks which is a cash amount.

It prevents circulation of cash money and keeps an accounting of the nation income and total money.

It can abolish the bribery system when we use digital payment method. Tax revenue will increase and everyone has to give the reason for access to money.

Making cashless increase marketing and takes all market on a single platform to buy and sell everything.

If we talk about the drawbacks then there will be a great danger of bank accounts and UPI accounts hacking and money theft online.

In rural areas, it will take a lot of time to be totally digitised and opening if banks and account of the whole. Educating people for the cashless transaction and use of ATMs and online services is a great challenge.

There is also trust losing in people for banking system after money laundering by Mehul Chowksi and Vijay Mallya.

So they think that banks are also insecure.

First, by implementing all the measures to protect the accounts information and security we can dream of cashless Economy.

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At current scenario, the Cashless transaction is partial good as numerous region behind this. India is the very large country consists of numerous types of people, landscape. For any form of cashless transaction, there is a requirement of the internet, smartphone or other atm devices. The Internet has been not spread at all located in the current date. The population of India consists of 70 per cent of poor who are under the poverty line, so most of them can't afford a smartphone. If you take a keen look towards our society, most of the old aged group people don't use a smartphone. As a result, they can't pay in cashless mode.

Yes, in last few years cashless payment mode is promoted at vastly and its effect you can see easily anywhere. The youth of our country use to pay in cashless form. It can be more popular by giving proper training and information to the citizens.

In the future, it will replace cash surely.

Digital payments are safe until we keep safe. Otherwise, the process that we are not aware of can cause financial harm. But seeing other direction we can say that Indian is on the way of digitalization.

Hello everyone.

I think digital payments are not secure because nowadays hackers play a key role in online networking besides this in rural areas people are not aware of this digital payment and no smartphones at all. But there are some advantages of digital payment like there is no issue of fake money.

Digital payment is the easiest way and less time-consuming way to do our payments. Digital is the best thing of today scenario. There is a little bit problem with security but nowadays we have our phone security. As we know that this phone OTP is the best secure and no one hack. So in my point of view, the digital payment is the best way for the development of the country as well as people.

Digital payments saves our time and energy but not secures our money though it is a way of developing our country sucurity issues are main idrawback of this method and I think that this method not well go with illutrate peoples and this will not siuts our economy.

Thank you.