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

Well, digital payments are of course one of the best ideas which adds more to our country's development. But at this moment, only urban cities can go complete cashless but not the rural villages yet.

Around 60 percent of people are well educated, so it's very beneficial for them to make online transactions, as it saves so much of time, no carrying vallets, you can simply make transactions from anywhere anytime, considering student example itself, we all know how students use to make exam payments but now we can simply pay jus having a cell or a laptop with internet connection but all this is because we have a knowledge about how to use it.

But rural people who are illiterate they do not know exactly about it. So before that, there should be some basic steps taken in order to make them aware of it, they must be given simple knowledge of how to use at least the basic apps like paytm now a days at least one person has smart phone at their home, but they must be provided with internet facilities, usually we students when we go to village, we find we don't get network to get connected to the internet, so they stay there all time, we need to think about all those problems. If steps could be taken in order to overcome the mentioned problems in rural areas then this idea will surely prove out to be the best.

It is good time for us to go for digital payments. Out of Total population, 65% is youth having an average age in between 26-28 years but the people live in villages, some of them does not even know, "what is internet?". What I belive? We should go for digital payments with effective and efficient measures.

But we have to go through the fact that, there are so many hackers around the world named as kevin mitnick, Anoymous etc having a capability to hack the entire nation and stole the cash flowing digitially in India.

If I talk about kevin metnick, he was able to hack Petagon defence located in Arlington County. So we have to find measures to deal with these kind of activities could happen in India after digitalise the economy.

In the era of BLOCKCHAIN, where people are talking about doing online transaction across the world, in such digital cashless era if we don't introduce cashless transaction then it would hamper our country very badly.

Before demonetization, 72% of Indian population were doing the transaction through cash but after 8th November 2016, the scenario is another way around ie 80% of the Indian population is doing and has adopted cashless transaction.

Coming to the point of Security, There are no systems or techniques or devices which are 100% secured. Even hard cash is also not secured, many Bank robbery cases has been filed till date. So it's our individual's responsibility to take care off.

The Government has started providing high-speed secure internet by developing proper infrastructure, Yes definitely it will take time to educate them but 5-6 years down the line, it won't hamper Indian economy.

In my opinion cashless transaction is good for India. Because India is developing country so it required tobimprove our economy. But educated know about the pro and cons. We have to involve to awareness about cash less transaction. In India just 2 percentage of people are using. Cashless transaction. In cash less is reduced black money and too much time spend the bank. So cashless transaction raise the question about security and cyber crime. So bank providing good security systems. So cashless transaction required for current situation.

Hello Everyone,

Talking about the security of digital payments, India is yet not well equipped to make this move secure and risk free. Govt should educate people on how to use digital payments, strict rules should be made for penalties and severe actions to be taken on fraudulent payments, RBI should set standards with e-wallet companies to avoid them to take undue advantage, Heavy investment should be done to make the digital infrastructure secure. Make digital India should move on but giving enough time to existing structure to change gradually. It should not be on the cost of security of citizens using online payment systems.

Hello everyone.

As per my serve, some business man or retailer give charge on digital payment 1.5% when the customer charges on the charge rs 10000/- charge 150/- he could not paid digital payment. He think about charges.

Hi, friends,

My name is Ashish.

According to me digital payments have been more secured continuously.

I hope, it will be totally secured In further 5 to 6 years and we will do our online or digital transaction more securely.

I think nowadays our online transaction is more secure than previous 10 years.

For ex:
On each and every transaction they (bank, online portals etc) will provide us one OTP (one time password) on our registered mobile number. And only we can access this OTP at the time of transaction. So we will be confident about our transaction that our money goes to authorized person. It wasn't happend 10 years back. So we have continuously secured day by day. It will also reduce our cost of paper currency and we will do our transaction in a minute. And in the country like India, to go cashless is very essential because India is top at corruption level among other 207 country.

Hi.

According to my point of view, Digital payment is a good way to the growing of economics India.

Because there is some black money are reduced and also reduce corruption.

There is more beneficial for us that it saves time, and secure I know today in India someone doesn't know how to operate digital and also a problem if any hacker hacks your account, and also a problem in digital payment if server are not working proper ways. So my conclusion is about the digital topic is very well and some bad because everything is not perfect.

Yeah, I think so because it helps especially middle-class people to save their money through several taxes that is applied by the salesman to a customer. And even it saves time and efforts.

Hi friends.

In India, many people are corrupted in our country. So, our government take a good step to make our country cashless. And using digital system provided by the government like ATM card etc. But many problems can face by the people of our country because they don't know about the online paying. But they know that our government step is good to make our country cashless.