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

Nobody can witness the security behind a certain decision. Before taking an action the government should help to learn those who even don't know how to operate a smartphone, and also there are people who have cell phones but no internet available. In this busy life no one even cares for each other then there is no point to say that literate people go to the rural place and arrange a study camp for those people. India is full of middle-class society they want to save money by not taking the internet connection and even bargaining at the shop this will not be possible when India go cashless.

According to me, nothing is fully secure here. If you carry hard cash, there is a problem of theft & if you are doing digital payments there is a problem of cybercrime. But if we see, we can control the problem of cybercrime as various laws are getting introduced to it. So there is a solution if people think that digital payments are not secure.

Now, if we talk about the initiative taken by PM about going cashless & encouraging digital payments, then I think it is one of the best initiative taken in order to make India Developed country. This will give a boost to our economy. It will increase the pace at which our economy is moving & most importantly it will control tax evasion problem. Also if we go digital, government's revenue generation will increase as the share of taxable population expands.

But for this, we have to work on some issues like infrastructure, educating rural population & ask them to use new technologies for their betterment.

From my point of view, digital payments are secure enough for the Indian economy to go cashless but if we compare the educated and the uneducated people in our India. Uneducated and rural areas are more so if we go cashless the most of the rural people will suffer and also there is no digital payment related things in rural areas. As we all know that after Demonetisation all the politicians and rich people are safe but only the rural people faced so many problems due to demonetization I would like to conclude that before going to be cashless government should take some steps to educate the people about the digital payments. Thank you.

I take it as the side of coins as an India is a country of farmers and lots of people are below poverty line. They cannot afford to have smartphones and all to make payment digitally. They are not having bank account also.

On another side, digital payment is a good option for people of the cities as it makes work faster and no need to go to the bank and withdraw money. Money is secured from the thief all people will keep money in e-wallet so the chance of crime is reduced to the greater instance due to the digital payment.

This is an opportunity for people who are not known to the mobile facilities to learn payment and side my side in free tin=me the can have the youtube surfing and can enjoy or gather information of their choice.

Yes, I think digital payments are necessary to make the India cashless. It is right step to make the country corruption free and poverty free. The digital payments are secure enough.

Our cirbre securities are doing their good job on this problem. They regularly updates the security system.

If India wants to go cashless we should think that there are people who are not aware of secure payment or secure methods of online payment. As technology grows threat for data piracy is increasing and various malware viruses are affecting the giant entities too. So before going cashless the people should be taught about the secure methods of payment to avoid loss of money as more people of India are coming under average or middle class people and loss of money is a huge loss for them.

After the demonetization affects from November of last year in India, there is an increase in the cashless transaction throughout the country which leads to security in sending and receiving transaction of money from others. This cashless transaction will lead to decrease in corruption it is a major advantage I think with this factor Indian economy will increase as Indian is a major country which is facing the corruption as the main problem so by cashless transaction there will be an increase in the Indian economy.

Hello everyone!

According to me, it's too early to say whether digital payment is secure enough for Indian economy or not. The government in charge has to burn the midnight oil to make this move successful. Not only they have to teach the fellow Indians about e-payments and net banking stuff but also they have to educate them about cybersecurity and cyber threat prevention.

Teaching online transaction and educating cybersecurity should go hand in hand.

What I believe is, this digitization of payments has recently been adopted in India. Talking about security issues, it takes time to improve things especially when it is to be implemented for mass, but what's important is an initiation of digitalization and adaptation of it by common people which was the result of demonetization. Security issues will be rectified anyways when digital wallets like Paytm, Airtel Pay & others will compete in themselves to attain the trust of the customers so that customers use their service. In India still, there is a major chunk of people who would not change or will not adapt to change unless it becomes a need. That's what Demonetization did. It created a need, and common people started adapting it and using digital wallets, as it was difficult in early demonetization days to withdraw new currency notes from the bank as cash.

According to my point of view, digital payment is absolutely right decision to make our country growth as seen from the payment point of view we can pay rupees in any firm or any bill payment company payment can be done by only a digital payment facility it will be some difficulty for the people who don't know about the online transactions processes but by teaching them properly this thing I m sure that digital payment can make good growth of the country and from wherever place we are able to do the payment and for the people to learn about digital payment process government has to take some steps that there will be seminars or the things held in villages in which people get knowledge about the digital payment processes.