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

I don't agree that digital payments are secure enough in India as many people doesn't know how to use cashless system ATM cards or Netbanking. They fall prey to hackers easily because they give away their private numbers etc to the hackers unknowingly that these numbers should not be given to them. Last months I have got a call from a stranger saying that "your ATM cards has been blocked and to renew it you should give the ATM number and CVV number". This is how some people manipulate others to give their private details. Those who don't know about it will fall for it and will give their private details. So people should be educated well while telling them to go cashless.

Moreover in India we don't invest in security system as other country does. Such as Panama paper has been hacked and got leaked despite having high security. So I don't think Indian cashless system is secure.

Hello, everyone, are digital payment secure enough for the Indian economy to go cashless. No, because as we all know we need good internet connection for the digital transaction. And due to low connection may transaction process stop in middle of transaction. And the money was debited in your account and there is no payment shows.

As due to digital payment system there were decreased in corruption and black money.

Example, if you order online a product of rs. 499 and you paid 500 in COD. The amount of Rs 1 not shows any one and if you see all over India crore of Rs. Collected with this which not shows any transactions.

So, the digital payment need to more secure and awareness related to that should be there.

Thank you.

Basically what I believe is that digital payments are simple and safe enough and I don't believe in a cash less economy, both assist each other though there is much training required regarding digital payments and its use for our rural peoples and few securities issue which will seem to be small once the person is informed and aware.

I guess having 5000 bucks in ATM card in one side of my jeans pocket is safer that carrying the same amount in other pocket. :).

Hello,

Digital Payments have done our work more easy, secure as well as fast as compared to previous times. When we have to stand in banks long queue for transferring money by cheque or draft.

But I don't want to ignore the point that now also there are many villages and backward regions where percentage of literacy is very high and even they can not earn enough to complete there basics needs i.e. food, clothes, and house. Bringing awareness of digital payments in these such regions will take long time until proper support and services are not provided for them from the government.

Going cashless is the biggest barrier for corruption in India. Government can easily get track the purchasing budget of the customer. Digital payments are secure enough for the Indian economy to go cashless because it will be action against corruption but implementing it in rural areas will take lot time for bringing awareness of this to them.

Thank you.

May I say sir, thank you. In my view it is very good step that has been taken by Indian government as of now the people were getting exhausted from standing in line for the sake of deposit or withdrawal operation so it is good act taken for the people sake to relieve.

As India is going into a digital world digital payments becomes an important part of it. Regarding the point to go cashless, the more we learn the better the Indian economy future will be. It is also necessary that each and everyone should use digital payment system to exit corruption.

We can't simply ban anything we have to give an alternative for that instead of opinions. If we are talking about betterment as we are discussing about being cashless we have to think about others too (including beggars, rag-pickers etc. ) you aren't gonna pay them using e-accounts. Remembering that either provides better jobs to them so that they can afford a phone and can use it. Else find another alternative.

Hello friends,

According to me the digital payment is not so much secure for the Indian economy to go cashless, Because a lots of people of our country are illiterate and more others are not well known all about it. Besides these a lots of difficulties also have to suffer such as hacking, false identity, internet problem and many more.

As I think, we can't get a best solution of a problem while we start to do it.

So after starting it, we will definitely get a better solution to fight with these problems, and after that it will definitely will be secure enough for Indian economy.

Hello Everyone. !

Just to add some views with regards to the security of payments for Indian economy to go cashless, it is most important to keep the aspects of digital rather cyber threats in mind. The hacking community is always there for the so called cyber threats considering the potential points like URL manipulation to hacking of passwords. But unfortunately all these are considered for the privilege class who are interested in viewing a smarter India. However, there also remains a class of people who don't even posses a mobile to indulge themselves e-payments and being exposed to the digital world.

Hello,

Every coin has two faces Similarly this decision of being cashless economy has two faces advantages and disadvantage. But most important thing is, Is this decision has more advantages than disadvantages? because anything in this can't be ideal.

And if we consider it carefully it has more advantages than disadvantages. You have a track of each and every transaction. Totally secure transactions. Corruption in the country will come to an end. Require less space than before in pockets.

Those who got mugged by fake calls, only because of their stupidity. No bank or organization want your personal information on the phone.