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

Hello everyone,

According to me, the digital payments are secure enough for the Indian company to go cashless because India is one of the few countries which is not affected by Ransomware - a virus used for doing cyber crimes! Secondly, digital transaction reduces currency notes production hence less number of trees would be cut for the currency notes production. At last, though digital payments are more transparent people always find a way, in India network penetration is one of the poorest in the world so the government must provide the network services, educate and protect them using cyber crime in order to maximise the utility of digital transaction so that Indian economy go cashless.

In my opinion, India as an emerging economy surely needs digital payments to go cashless. For this, the government has taken many initiatives to make Indian economy go cashless. Surely, it will take time for the people to change their mode of the transaction to cashless. As the government is well aware of the fact of its security and is taking concerned effort to make Indian economy go cashless. A cashless economy is beneficial to both country and individual.

Modi took great decision to make India to be greater economic country. Yes it's possible when we tell to our surrounding persons who are not known about this digitality and tell them who are illiterate should make their sons /daughters if they were child labour. Because why we should aware means there is large corruption going in India. Due to this, we are not having poor to become rich, at least to be a making their livelihood from which to feed their families. First we need to protect environment which has our surrounding, that lead to good environment to them, from which they can have food and earn happiness, from which gets great nation which gives good education to their families pupils, then which makes digital world. Before you should be aware about this to tell someone.

Friends, I have a mixed review in this subject. I think digital payment is a prominent step towards moving into a cashless economy.

In fact, it is an important step in becoming a developed nation from being a developing nation forever. It improves the financial status of our economy as most transactions come under the purview of law. It offers the 24x7 facility. But it's necessary that the financial inclusion is to be achieved before such a system is made compulsory. Also, proper cyber crime laws and technical supremacy should be ensured. Else the entire nation will face the threat of user privacy and It's a matter of national security.

I think I would not go with the favour of India going cashless as in my point of view, India should be first been taught about it without knowing the fact never a person can use it worth wise so it's better before going cashless India definitely should know about its benefit and how to use it worthily.

Hii.

In my point of view going cashless is good for Indian civilization as we all know India is the country which is developing very fast in every aspect. Then why not in transaction too. We must support cashless transaction because it will help us lot.

The Advantage of cashless.

1. It is highly secured undoubtedly.
2. It is transparent to the government which will reduce corruption.

But in some ways, it needs to improve that everyone should know how to transact properly and safely.

In every location, it must be implemented because in some location it is easy to go cashless like in metro cities but in rural areas, it should implement from the grass root level.

Hello folks,

India is leading towards development. One of the most important factor which can help us to move forward is digitalization. Cashless India is one of the resource through which we can achieve this goal. There are various reasons why we should make use of digital payment. One cannot have all the money in hand.

Many people are uneducated but we should not sit idle because we don't know how to payment. Such people should be taught how to do this. Then only there will come time when uneducated ratio will have down. People will get used to these things. Then the campaign which PM has taken will get successful. That will be the first step to the development.

In my opinion, that digital payments are NOT secure enough for the Indian economy to go cashless. I say this because though there is a government implemented digital payment app, not much people actually use it. There are various reasons for this. But the point I want to speak about is that most people use private company owned digital wallets or digital money. This poses a lot of problems. First is obviously that it is prone to hacking. Though this happens at Government owned companies too there is another point with private companies. Private companies may sell the user data to people. This has been the allegation on many companies too. Hence, I am of the opinion that some amount of cash transaction should remain.

I think it is a very good step for a developing country like India to become cashless and make payments by digital systems but there is a word comes in mind that is security of money in India half of the people when making transactions by digital payments thinks that is their money will be safe if their transaction is not made successful than what they will do and half of the people don't know even the terms and conditions about their bank people are asked to give their OTP bank debit card num and etc and after knowing this fact that the bank will never ask for this information they give details to other people and then they are robbed. It is a secure step if people will get a knowledge about all these things.

According to me, going cashless is a good idea as it helps to reduce corruption.