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

Delighted by your answers people. India needs people like us who have strong views regarding illiteracy and poverty. Yeah for sure digital payments will be a step forward towards safe and secure transactions but the thing is its beneficial to 50% of the population. Half the people will struggle not only for jobs that the banks are providing but in this new advanced technology too. We need educated Indians in this context. Thanks.

According to me,

Go for cashless is one of the great ideas from Shri Narendra Modi government. The Main reason behind the go for less cash to curb the counterfeit notes and curb terrorism and remove black money from the society.

But before implement, this idea government will take some precautions because the majority of Indian people majorly depends on cash payments only. Government creates awareness about digital payments and many of the illiterate people also there in India.

Security threats in digital payments also major issues in digital banking. My opinion is that before implementing this idea government will look all these issues.

According to me, there are advantages and disadvantages of the digital cashless system. But in this generation digital cashless made people make more easy for cash transactions only the issue is with illiterate people I think this is not only the duty of government but also every child should educate their parents about this cyber attacks should be strictly prohibited by goverenment and they should punish hackers in this regard.

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.

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.

Hello, friends.

In my opinion, digital payment is secure for the Indian economy to go cashless at a larger transaction. At the level where robbery and fraud are possible so to get rid of these problems, digital payment is an important step.

But in a smaller scale like children run towards ice cream seller and buy an ice cream of 2or 5rupees. Is this fair that guy swipe the card enter the pin and then taste ice cream.

At last, after reading the above view I also came to a point that user should be aware of the terms and conditions of use that card and it's a security measure and this can only achieve if we raise our standard of education in our society.

Thanks.

As India has more young population than any other country in the world it should be easy for at least the urban population to make digital payments and take an initiative towards cashless transactions. As digital transactions have a lot of advantages like saving paper, reduction in the cost of printing currency, it keeps the transaction details properly, it will save the time of the consumer.

Hello, everyone.

In my opinion, digital payment is secure and making Indian economy towards cashless as because it is making fast payment where you have not to worry much about the money you have and those transactions are have a number of securities. And also you can transfer your money anywhere in the country.

Due to digitalization. The money would run into the market enormously and it will create a boom in Indian gdp and black money can also revamp through this effort. It's very necesaary for India.

According to me, this will be good. Because in India, around 60% people are young and educated so that it will be good to be cash less transaction. But here we have some problems like illiteracy. I mean if you go to village side everyone is not educated so it's not that easy to go with digital cash.