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

I partially agree with this, It's true that digital payment is secure enough for the Indian economy to go cashless but it is valid for the peoples from cities who have good knowledge about this system because they mostly are educated but if we look into villages peoples they do not aware about it, even they don't know how to use smartphone then how should they make digital payment.

So, I just want to tell government awareness should be done by the peoples who were living in villages then and only then this system gets more efficient.

Hello guys,

A digital payment is not secure for India to get cashless because in India there are and many people who doesn't know how to use androids or computers. If they get some information about it, they start using it but there are hackers who can misguide anybody and loot their money. Nowadays cybersecurity problems are increasing and making digital cash is like giving our money to them easily.

Hello friends.

According to me, digital payment is the best and very useful way of transferring cash globally somewhere one might think of cyber crimes but if we use it wisely we can avoid it.

Secondly somewhere it is not considered very useful in rural areas where digital knowledge is not very good among people but initiatives have started to reduce this problem.

Thank you.

First, we have to understand the difference between the cashless or without cash transaction. Yes, we need cashless that means we should use digital transaction as much as possible. We can eliminate cash currency completely from the market because it will not be practical.

Now coming to security, yes we don't have a perfect system for cash transaction but we have to take initiative for change.

All that is necessary for the secure transaction can be done in future but first, we have to start this initiative.

For security reasons, we should do few things.

1. First, we should start awareness program as we know there was 25 crore family who did not their bank account.
The ground reality is the people of villages which contains almost 65% of our population is not used to the banking system.
We have to educate them. We have to give them trust that their money will be safe because people still afraid for deposit their money in bank account.

2. Now cyber security came for making a secure transaction.

3. People's participation is necessary. Those who are educated should teach their known one.

4. It will become more practical if Service charge will be less because no body wants to give extra money if they can use it by less money.

In my point of view, digital payments and going cashless is more effective and accountable way for the development of our country. It consists of both pros and cons. Coming to the pros it will majorly help in decreasing the corruption and will curb the black money as well. It is is very easy and more convenient. There is no need to go and stand near banks and ATM's for hours. Coming to the cons as India is a developing country the security is the major problem. Most of the educated as well hesitate to use online payment because of the fear of hackers and it is difficult for the people living in rural sectors who didn't even know about the internet. The government has to take measures by arranging campaigns and effective advertisements to make them understand of online payment and also make them aware of advantages in going cashless. Also, the government should opt multilayer security systems so that people will believe that using online payment is safe.

Hello everyone,

I agree that going digital is a good idea but India is still not prepared for it. Even if we think of going digital, what about all the grocery sellers out there who cannot even afford to set up digital payment systems.

The Internet is still not India's thing. Before going digital we need to make sure that it's affordable by all. Cyber security is another major issue. Going digital can even encourage hackers and bring in corruption instead of abolishing it. It may lead to more and more number of hackers being hired and corruption may creep in again.

If we really want to abolish corruption, the only means is to remove it from our society, from our minds, from our daily habits.

Thank you.

Yes, according to me, digital payments plays a major role in nowadays. Even wmif we want want to buy any commodity we have to make digital payments. So, I feel that this is secured type of payment and if everyone follows this mode of payment our country will be first in the list of digital payments.

Even promoting digital payments through villages may secure Indian economy to go cashless.

India is in a growing phase. For a nation, to be globally competitive, it must embrace the technology like going cashless. It's valid that there's been a cyber security issues. But nothing can be done if we keep on highlighting the negative things. We, as a country, manage to tackle these things by considering where want to at 20 years down the line. In short, run any task seems to a challenge. If we withstand this, We'll stable enough in the long run in adopting much better safer technologies like Block chain. For that, we must have the basics right. Going cashless is absolute necessary.

In my point view, The digital payments are secure enough to cashless but not 100% secure enough, Our government will recover few pitfalls in this payment mode after that we can easily reach our goal (Cashless) , Once we will reached our goal, our country convert from Developing to Developed nation.

1) The main problem regarding digital payment is Digital Literacy and lack of Awareness about digital technology and Cyber threat.

2) Still now our Indian security system follow our old security protocols, This will create on 1991.

So our government and common people put a lot of effort to rectify these pitfalls, After that only our Cashless goal is achieved.

Yes, digital payments are secured. But remebering the new cyber attacks we have to upgrade the new secured technology. Day by day it has to be improved. So that cyber attacks will never effect our digital transactions.