Are digital payments secure enough for the Indian economy to go cashless?
Points to remember before you participate in this discussion:
- Assume you are one of the members of a real group discussion.
- Take the initiative to participate and contribute your thoughts.
- Contribute your positive thoughts towards providing the solution.
- Post your thoughts here.
Discussion:
2111 comments Page 116 of 212.
BIPLOW KUMAR said:
8 years ago
Hello, everyone. I am Biplow Kumar and in my opinion, definitely digital payments are secure enough as the mediating apps or software provide bit encryption and even an OTP is sent on the registered mobile number to complete the payment or transaction. There is no fear in our minds which used to be while carrying cash or note packs. A lot of chaos and cold quarrels used to take place at shops which denied to return change and in return gave us chocolates. This hustle has also been overcome.
(10)
Soumya Ranjan Padhy said:
7 years ago
Yeah, definitely it is more secure than the previous transactions. Look at the back we have to carry our money with us and nowadays it is gone all through online payment or with cards. Although this happens from 'Demonitisaton' which is happened last year. But anyhow it is Insecure in the sense hackers will use to transact the amount from one account to another easily. So we will improve with our Firewalls, Encryption.
So lastly, Yes, it is very helpful to go forward for cashless in INDIA.
So lastly, Yes, it is very helpful to go forward for cashless in INDIA.
(11)
Vamsi said:
8 years ago
Hi, myself Vamsi Krishna. Yes, it is secured. We should be more careful. Because of cyber crimes increasing our company so that we have to receive a lot of wrong messages and emails, but we can avoid that thing. So keep aside that negative thing. But we have many advantages due to digital payments. It is fast and safe. There are no illegal transactions. So that we have to increase our economy. But it is possible and easy for city people's only, so we can take awareness of the rural people.
(1)
Mahadev said:
9 years ago
Hi everyone,
In point of my view, digital payment didn't come in market now, it's before Modi government few peoples are using but Modi intention is every Indian must use internet banking then only corruption is decreasing, we are all support him then only our country will be developed after few years.
I know in India more than 60% rural people, but in rural area also we have banks so learn how to use internet banking then use it.
I think this is the first step of decreasing corruption.
In point of my view, digital payment didn't come in market now, it's before Modi government few peoples are using but Modi intention is every Indian must use internet banking then only corruption is decreasing, we are all support him then only our country will be developed after few years.
I know in India more than 60% rural people, but in rural area also we have banks so learn how to use internet banking then use it.
I think this is the first step of decreasing corruption.
(5)
Salman khan said:
8 years ago
I think digital payment is may be secured for our county. It's a good for a present time & also will be in future. But sometimes many people cheated to innocent peoples because they have no idea to operate payment app & also sometimes server problems to slow internet speed is a huge problem because sometimes my payment was not completed & withdrawn money in my account & waiting to refund for 4-6 days.
So, I think its a secure but refund will give be given within 24 hours.
So, I think its a secure but refund will give be given within 24 hours.
(26)
Aish said:
8 years ago
Hi.
Before coming to the point whether these cashless economy and digital payments.
One second thing about the depositing the amount into respective customers accounts in the bank.
If you have sufficient balance only you can make or transfer the amount, for depositing the amount only takes more time. So banks need to be provide facility for depositing amount.
Starting stage from here only need to improve then digital payments and cashless economy will work out in our country.
Thanks.
Before coming to the point whether these cashless economy and digital payments.
One second thing about the depositing the amount into respective customers accounts in the bank.
If you have sufficient balance only you can make or transfer the amount, for depositing the amount only takes more time. So banks need to be provide facility for depositing amount.
Starting stage from here only need to improve then digital payments and cashless economy will work out in our country.
Thanks.
Tarak said:
8 years ago
Hi! everyone.
Let me share my opinion. With digital payment, time will save. But as there is a risk of a hacker, here we can overcome that problem if we use the application which is provided by corresponding account holder bank and also approved by RBI and RBI must take the responsibilities of the transaction. And if there is an accident (hacking), RBI should investigate and should refund that money to that account. I think with this approach everyone will use digital payment fearlessly.
Let me share my opinion. With digital payment, time will save. But as there is a risk of a hacker, here we can overcome that problem if we use the application which is provided by corresponding account holder bank and also approved by RBI and RBI must take the responsibilities of the transaction. And if there is an accident (hacking), RBI should investigate and should refund that money to that account. I think with this approach everyone will use digital payment fearlessly.
(8)
Nish said:
8 years ago
Digital payment is secure enough for the Indian economy to go cashless if we go cashless more transaction will take place digitally that helps the government to stop corruption & government will have all transactions records so that no one will able to take advantage of taking extra money. But in country like India it's difficult to go cashless because the literacy rate is not that much not all are educated so they will not able to do payment digitally. So that's the drawback of this.
(5)
Akash Tripathi said:
9 years ago
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%.
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%.
(8)
S Rana said:
8 years ago
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.
(1)
Post your thoughts here:
Quick links
Quantitative Aptitude
Verbal (English)
Reasoning
Programming
Interview
Placement Papers