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

Good morning to all for you presents out here.

I Aman Jaiswal wanted to share a few points on this topic firstly of we all we should know the concept offline digitalization in a very simple way digitalization means to make things easy in less time-consuming. Now yes, India should look forward to implementing the digitalization process in every necessary need like banks shopping mall car and much more so that it I'll take very less time and also very much transparency with will leads to corruption free nation.

Hi Everyone,

My opinion is digital transaction is a sign of developing Indian Technology, which is appreciable. Now, coming to how secure enough the digital transactions are, With the developing technologies cyber attacks and internet traps are also rapidly increasing.

So it is truly in the hands of the individual users to do safe digital transactions. We have to remember that cyber security is something we must consider at every step we take online.

So the government has to take steps to train and give a deeper understanding of digital transactions and cybersecurity, to all type of people. So that India economy will safely and successfully turn to a cashless economy.

In my point of view, digital payments are more convinent way to go cashless. And all banks provide us 3D security for transanction. They did theire best to give security for our transction. But we also have to aware about our all bank details and we have to handle this all work with responsility. If user uses those services with awareness and responsibly then I dn't think thank our money is in any danger. Afterall its also depends on us because if we use it carefully then no one can event touch our money without our permission.

If we are talking about hackers now a days bank make that security very tight so there very few chances of hacking our account.

And there are more benifits of digital transaction. If we see overall there are 90% transaction are cashless. Because the people don't have enough time go to bank and stand for long time to make theire transaction every one wants it as quick as possible. So if we taklking abuot digital transaction in my point of view these transaction are very safe and everyone using it. But we also neet to do every transaction securely if we took care of that then there is no problem to go cashless.

Now talking about rural area there are many problems like network problem and the lack of knowledge that people have. But if see these problmes are minor because now a days mobioe operators are trying to give better internets services in rural areas so in some network problem will be solved. So network problm is not the main problem in rural are might be some area facing it but it will be solved in someday. But the main problem that rural area is facing that is the knowledge the people don't have the knowledge and they feel unsecure about digital transaction because of there lack of knowledge. And this is the main problem in rural area. If youth take initative to educates people or at least edcates there family this problem can also slove. There are many student from rural area who are taking education from the city and they all know about digital transaction and they did every day every week every month. So they know all abuot digital transaction how it works how we can use it and all the things. If they take initative to teach theire family how to use digital transaction and how we can use it securely and all the things about digital transsaction. Then rural area people can use these services. And the main thing is that rural area peoples are very curious about these things they want to use it they want to know about it and they also curious about to learn these things but the problem is no one is giving the knowledge to them even bank also. And only because of lack of knowledge these people scared to make digital transaction or using this services. So if the student blongs from rural area take this initative to educates theire families then rural area people also can use these services. And if you ask me is digital transaction safe or not then my answer is yes these digital transaction is safe and more reliable way to live. Thank you.

Hi everyone.

When we talk of security then digital payments are the most secure form of transaction till the interface that is being used by you is not fraudulent. So the hurdle here is knowledge of the interface through which the transaction is being done. This can be done only when the cybersecurity wing that is the CERT-in keep a very strict eye check on the fraudulent website who betray their costumers and thus leading them to a false payment.

Another aspect is that through digitization there will be a full stop for the fake currency which are in regulations.

Another benefit of going cashless is that the party funding (or the donation) that are given to the parties for their campaigning can be checked. This will have a great impact on the growth of our economy as when a party funding is done then it is a huge amount which the firm or an organization tries to compensate by increasing the cost of the community or by someway putting the burden on the general public.

Thank you.

of course, Digital payments are future of our society. Today, our life's are more comfortable and luxurious then our ancestors and also people could find the easiest way to tackle every situation. So, in this context we can say that digital payments are need of our society, now a day no one has time for any extra activity then how it will be possible for them to stand in long queues for bill payments and also to buy luxurious thing in market, they have to take along with them huge amount of money. Which leads to discomfort shopping.

Digital payment is providing all facilities which today's generation want but these facilities are only limited to urban people rural areas still need lot of improvement for digitalised payment.

Considering, India where still there is a huge percentage of illiterate person the dream of the cashless country is still apart. Cybersecurity is also a concern.

Yes, digital payments is a secure way and a very nice step of Indian government to go cashless. Of course, it will reduce fraud, corruption and terrorism because the more liquidity in the market the more chances of corruption and fraud. Also, it will save time and efforts. I read all the comments above some are arguing that in rural areas most of the people don't know how to use ATM cards, online transactions etc. So I want to put a single point that only 10 years ago had they any idea about touch screen phones? Nowadays they are using it without any issues. Every good thing takes time, so it will also take some time and will be in line even in rural areas.

Thanks.

I think it is a fabulous concept to make India cashless. But for now it can be applied only in urban areas and that too after the proper training programs, high internet connectivity in all parts of the urban area and with highly secured networks. To implement digital transactions awareness need to be created through different modes like social media, television, seminars etc. Secondly, a help center is to be made to deal with cyber crime and immediate actions to be taken against cyber crime.

Hello everyone,

Firstly, the point of going cashless came into the limelight just a few months ago when our Prime Minister Shri Narendra Modi announced the banning of 500 and 1000 rupee notes.

Let us first get to know what is the meaning of going cashless actually is:

I) It means that we must be able to complete each and every transaction without getting into the hastle of finding change and without getting into the trouble of carrying our wallet every time.

II) It means that every single transaction that we make is transparent and is clearly visible to the authorities.

There are a few prerequisites for going cashless:.

I) Everyone must have a reliable internet connection.
II) Everyone must have the basic knowledge of using the internet connection.

Well, as per the current scenario we can assume safely that yes our digital payment techniques are secure enough for performing day to day transactions. Said this, our society is not yet ready to go 100% cashless even if the payment methods are secure enough.

Since this is the age where we find a new tech every day, we cannot guarantee that the methods that are thought to be unbreakable will remain unbreakable in the future as well. As the eavesdropping techniques are developing so are the techniques to prevent are being developed. It is our duty to embrace the changes in our society and just hope for the best.

In my opinion, digital payments is a great idea, that we are looking forward to reducing corruption, black money but the government has to take measures to have a proper internet connectivity and safety to online transactions from viruses (like 'ransomware'). Till now there are some areas where there don't have minimum 16 hrs power supply per day. Another hindrance is a low percent of knowledge about the online transactions by a man of streets. They do not know how to carry out these processes so government should take a step to conduct some camps to educate about digital payments.

Hello everyone!

I think, digital payment is one of the safest mode of transferring money from anywhere at anytime. But, as we all know that India is a developing country so, digital payment may not be a good idea as the literacy rate in India is very low and most of the people still don't have any idea of using internet and smart phone. Apart from this, many villages and small towns have not proper electricity and internet connection so, it would be very difficult for the people to meet the demand of digital payment. Before expanding the digital payment, we have to sort out some basic problems first.