Are digital payments secure enough for the Indian economy to go cashless?
Points to remember before you participate in this discussion:
- Assume you are one of the members of a real group discussion.
- Take the initiative to participate and contribute your thoughts.
- Contribute your positive thoughts towards providing the solution.
- Post your thoughts here.
Discussion:
2111 comments Page 123 of 212.
Arathy V said:
9 years ago
Hi guys, I support this. The government has made a right decision of demonetisation which could reduce corruption, provided everyone including people from rural areas be given awareness about digital transactions and providing smartphones and internet connectivity wherever necessary. Though India would be cashless, digital payments could make our lives easier and once every Indian gets to know about digital transactions, that's a giant leap forward to Indian development.
(8)
R. surya said:
9 years ago
I agree India is developing county.
The cashless deposit and transaction is help to devolp the country economy.
But digital transactions can't be suitable for uneducated people and low-class people.
And we need money to small transactions like.
Travel and brought some items from shop.
The money is very essential because we need improve the shops, small business like vegetable seller, farmers and the village peoples. And we need to set the more banks in the villages.
The cashless deposit and transaction is help to devolp the country economy.
But digital transactions can't be suitable for uneducated people and low-class people.
And we need money to small transactions like.
Travel and brought some items from shop.
The money is very essential because we need improve the shops, small business like vegetable seller, farmers and the village peoples. And we need to set the more banks in the villages.
(20)
Maisie said:
8 years ago
I absolutely support digitalisation and after myself using digital payments I think it is a much more easier and comfortable method. But before coming to security point of view I would take up one issue which can be a serious hindrance in its spreading, access to internet. Most of these payments require internet and a device to access it Which is not present with most of the Indian population right now so I think going cashless is absolutely not happening in near future.
(1)
Gauraw said:
8 years ago
Digital marketing leads to:
Faster Transaction.
Payments of products could be done at any place.
In the time when we don't have change, we could easily pay digitally.
Even there will be no stress in mind of money to be lost as we have only one card.
Looking at security in India for digital payments, I think it's still way behind, it's insecure to type password (ATM password) in front of unknowns.
For a solution, they could use the fingerprint scanner instead of ATM pin.
Faster Transaction.
Payments of products could be done at any place.
In the time when we don't have change, we could easily pay digitally.
Even there will be no stress in mind of money to be lost as we have only one card.
Looking at security in India for digital payments, I think it's still way behind, it's insecure to type password (ATM password) in front of unknowns.
For a solution, they could use the fingerprint scanner instead of ATM pin.
(6)
Anant said:
8 years ago
We all know that India is a developing country and as technology has evolved over the past few years, people have started liking cashless transactions as they feel worried of carrying a huge amount of cash. On the other hand, digital payments are not much secure as they comprise of passwords which may either be forgotten but the person or maybe someone has his account which may lead to loss. Thus digital payments are not much secure enough for the people to go cashless.
(2)
Min said:
7 years ago
Yes, they are secure enough and even more security is provided to it using the OTP concept that until we don't put the OPT the transaction is not completed so even if a hacker tries to do it that won't be possible without the OTP. Coming to the rural areas they need education for it and government should lauch such programs to spread awarness about the digital payments or sessions should be conducted on it and training should be given to performing the digital payments.
(8)
Shweta said:
8 years ago
I feel digital payments is the next step for the development of our country. We need not stand in atm queues for the money as well as theft and burglary doesn't occur. We do not have to carry around exact change for the purpose such as in markets etc.
As far as this method to be real success people should be educated about the system and should be made aware of the cons and pros of the system. Change is always good for the betterment of the nation and its development.
As far as this method to be real success people should be educated about the system and should be made aware of the cons and pros of the system. Change is always good for the betterment of the nation and its development.
(2)
Darpan M said:
8 years ago
We cannot say it secure enough but yes they are secure up to some extent because using of digital payments at each stage of daily life can cause security threats and also some of the areas of the country still don't have the facility of electricity yet, in this situations digital payments are impossible to implement there. But for metro cities and big town digital payments are secure enough for the use of people who actually can take care of not being a part of frauds.
(13)
Sushant Agarwal said:
8 years ago
Firstly, no economy can go cashless. Rather it can be said that the economy can aim for less cash economy.
Coming to the topic, in today's scenario digital payment have become very prominent part of every economy growth. And having such a great IT secured network, we can trust on the banking system for going digital.
There is always some risk with a thing you hold.
Same is with money, rather it is in digital form or physical form. So digital payment can be trusted.
Coming to the topic, in today's scenario digital payment have become very prominent part of every economy growth. And having such a great IT secured network, we can trust on the banking system for going digital.
There is always some risk with a thing you hold.
Same is with money, rather it is in digital form or physical form. So digital payment can be trusted.
(35)
Shantanu said:
8 years ago
Hello, dear friends.
The concept of digital India is very good and helpful for Indian economy. But first of all we have to develop and provide the internet facility to all peoples in a rural area and also generate awareness and trust among the people about benefits of cashless transactions. We also have to improve transparency in digital payments and built a strong shield to avoid cyber crime. The laws regrading cyber crime must needed to upgrade and more punishable.
The concept of digital India is very good and helpful for Indian economy. But first of all we have to develop and provide the internet facility to all peoples in a rural area and also generate awareness and trust among the people about benefits of cashless transactions. We also have to improve transparency in digital payments and built a strong shield to avoid cyber crime. The laws regrading cyber crime must needed to upgrade and more punishable.
(16)
Post your thoughts here:
Quick links
Quantitative Aptitude
Verbal (English)
Reasoning
Programming
Interview
Placement Papers