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

After reading different opinions of people I must say they all are right somewhere partially or completely. Our country is a developing country we all know that and has various literacy percentages some of them is low and in some places it is good. Going cashless will be a disaster for our country because of the reason that not many of us now what is the internet or how to use it. But also without digital transactions, many of us who can understand the digital system will have to suffer because it will be much easier and time-saving with digital transactions. So one thing that our government can do right now is to enable both mediums of transactions soon people will become friendly with the system when they know which one is better. In that duration, those people who can understand the digital system will automatically use that process which will lessen the burden of cash handling and time-saving. In this way, we will not remain in our old state and will have a kind growth from no digital to at least half digital. Also, this duration will help government In establishing some important safety measures concerning the digital transactions. So, in my opinion, it will be better if govt establishes both medium for a time period.

Thank you.

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.

India is developing the country. In my view, it is a bold step taken by the government. In present architecture we can't say that digital payment secure enough. Because many haker can hake account and can do cyber robbery. People who are don't awear about online tranjection they can face problem. But by educating these people we can make it good decision. And if all rural aeras people would know that how to use digital payment. Then it really effectable.

By digital payment we can save our time and also can save trees beacuse in banking work many tonns of paper used. Paper made by tree so by digital payment we can save our environment.

No, see before thinking about the going cash less. First, we have to think whether it is really possible to go cash less in a country like. For past 20 years we are saying that our country is developing nation. But remember that our country is yet developed. Though nowadays after demonetization modern generation has started using online transaction or card but till now it is not into its full flow. There are small scale shop or section during which we have to use cash only.

Hi, India is a developing country and most of its income is from agriculture making everything in digital payments is tough task. In some places of India people are still living without current and facilities provided by government in such conditions we cannot go for digital payments, of course digital payments avoid curruption and saves time but it needs little education. In metropolitan area it is better to make use of digital payments so that in future the idea and benifits of digital payments come in to existence.

Hi,

Yes, we all know that our India is developing the country. I agree that digital payments are uneasy and easily suffered by rural peoples but without rural people how Indian economy is good as possible? so the government will take a step to create awareness and try to let them to know by educating basic about this secure digital payments. Then only our national will go to cashless.

Hai everyone, I think for every situation there are some benefits and as well as drawbacks. Fro this.

Advantages :- By digital payments time will save more, we no need to go anywhere, we can transfer money in minutes of time, if we forgot the wallet it will be no problem, if we remember our card details we can reach home from anyplace by using this particular payment type, no need to go to banks and no need of waiting hours and hours of time. And mainly it will done under gov control so there is a better chance to vanish the black money also. More advantages are there.

Disadvantages : in our country there are lot of uneducated people, lot of people even don't know how to use ATM cards and cash deposit machines at least, so if we introduced digital payment and card transaction, it will be so confusing to the people to understand even for the educated persons also, then what will be the people who are uneducated and villagers, so for this gov should conduct campaigns and educate the people, they have to aware of all this and know then facts and benefits of digital payments, and so many people don't know how to utilize the internet in a specific manner, even though not every one can effort a smart phone to do payments.

If villagers also know the payment process and gov providing internet and computers/smartphones for every person it may works better.

Hello, Everyone.

Yes, digital payments are secure enough for the Indian economy to go cashless. But only digital payments being secure doesn't mean Indian economy should go cashless. An economy needs to satisfy various factor before going cashless. First one and the utmost is percentage of people exposed to internet and the way of doing thing digitally like selling or purchasing etc. And as we know not much Indian population is exposed to it or how it works. There is no benefit for Indian economy to go cashless but it doesn't mean it should not go cashless either. It's just mean now is not the right time. First, we should tackle all the problems relating to it then only should go cashless.

Hello, Everyone.

My name is Kanishak and I would like to say that now India is developing at a very good pace and it is the need of an hour to go with digital payments because there are certain reasons for it such as the method is totally secure as it requires one's mobile number for OTP. Secondly, if don't have to stand in a queue for doing a transfer of money. You can easily do it through various digital platforms such as paytm etc.

However, one major issue that one can face is based on networking. Sometimes bad network can cause a serious problem.

Hi everyone,

As all agree with the topics but I'm partly agree with the topics, I think making India cashless is good as it helps in uprooting the black money and corruption but I think we are not prepared for this move till now. First, of all our software are not up to date so there may a risk of virus like ransomware and second is the majority of the people in the villages still don't know the meaning of cashless so we can't put it on them. We can only make India cashless by providing electricity, and internet network to the villages and teach and train them about the usage and security then only we can go for cashless.