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

Yes digital payments are helpful but its not secure enough in India. That's why very less people are using digital payments in India. They have their own bank accounts online transaction facilities still they are not ready transaction by online this is only because of secure payment modes.

Hello everyone.

I would like to few things on this topic. In my view,

Digital payments are more useful to us. It is not only for transactions but also we can do developing ours economics. So we need some secure for the transactions when we provide the security to transactions we have successfully increasing our capability on cashless transaction. We should also concentration on uneducated people because of they don't know how to paying money in online. So we should awareness of digital pay amounts on who have no idea on cashless transactions. And one thing by using digital transactions we can provide more jobs as well as do transactions more efficient and within little time without go to the bank.

In my point of view, yeah it's secure enough for the Indian economy but in India around 50% of the people were educated and the rest are uneducated as the people in rural areas. They don't know about the digital system like online transactions and aren't able to find how to use ATM CARD, NET BANKINGS. We should make it possible if we enlarging the banking system in the rural areas.

Though Demonitization Is quite a good move by PM Modi, going cashless has its own flaws. Safety is one issue which keeps everyone from going into cashless transactions. Corruption can come to a halt if cashless transactions are promoted but not everyone will go into that because of risk of safety. Hacking into accounts and losing money is obviously a threat in cashless India.

Moreover, there are people who still don't have access to all such facilities so going cashless has its own Pro's and con's.

Hello Everyone, In my point of view, this initiative taken by our PM that is digital payment, is secure enough for the Indian economy is a good but it is upto some mark.

As we all know about 70% of our Indian population is uneducated and poor. They are unaware with uses of computer and digital technology and also some can not bear or handle the smartphone. But yes for these problem government has started many application like BHIM, PAYTM etc. But in spite of these they will face huge problem because sometimes educated person deceive them while transaction and payment due to unawareness of technical knowledge and government or bank policies.

So along this initiative government should start some plan or camps for these rural people regarding technical knowledge, these policies and how to work with these applications so that they can become aware of pros and cons during transaction and payments. Then everybody will be smart enough after having this knowledge and always opt for digital payments. Due to this black money will remove from our country and then this initiative will achieve its goal.

Thanks.

Yes, digital paymet is very useful for people in India because we can control the coruption and make India as smart technology.

Hey, friends, according to my opinion, digital payments are not secure not only in India but in all over the world but they do many goods to our court system as no one can hide money or ask for extra income and most importantly the pupil has the proof of their transitions. So lastly I want to say that it is not so secure but beneficial.

Thanks.

Yes, in my point of view, India must go digital, but at same time country like India, people of rural areas are still not aware of using ATM cards & with less knowledge they are unable to do, so before going digital we must take care about these things & educate them regarding this, then it will shows the positive growth.

In my opinion, cashless means less cash and not no cash it is not possible to go completely cashless. Digital advancement has paved way for digital money. Now even Indian PM emphasizing more on educating people about using digital payments by various means because using digital payment method has many advantages for the person using as well as for the nation. BUT with advantages, there are disadvantages as well. Talking about advantages it is convenient, fast, 24x7 available, no need of carrying cash everywhere since digital payment are accepted mostly everywhere and the most important thing it is safe. Now it has its own disadvantage for using digital payment fast internet connection is required and India still lacks in terms of internet connectivity. Sometimes the transactions get failed so many of the companies usually takes 4-7 business days to refund your money. There is also threat of your important data getting misused. So yes digital payment is very good and convenient for the people but with some improvements, it will be accepted by more number of people.

Yes, but this initiative needs to be promulgated to every part of the country especially into the rural parts of the country. We need to buy things every now and then so why not make such kind of payment which is evident.

If we start doing all kind of payments ranging from daily needs to bulk purchase of course this country will move towards achieving its cashless goal. One great example of cashless economy is Sweden. It is completely cashless and the corruption rate is less than 0.2%.