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

Hello friends,

I want to tell about this topic, a Cashless payment it is a mode of transaction. First in non-offline mode in olden days, every man can see in line outside the bank to take their payment or make a transaction this process is not also safe because some problem of theft being looted and one place to other places to going with money is dangerous so cashless payment mode it essential. But in India, our Honorable PM Narendra Modi has established this mode. First this method is applied in urban areas because here people are literate so here chance of risk is less than some seminar will conduct in rural areas so that they can understand how to use this method and after this applied in rural areas partly not full because in rural areas illiterate people are lives so it may be risky for that old man and woman they are illiterate. So in my opinion cashless payment is applied partly not fully. Take step by step to applied and gives more seminars so that everyone can understand this process. For this reliance jio has come in India so that everyone uses the internet and understands the cashless payment and bans also gives help for this process. We also know that there are some type of cybercrime they hack the account details and cashless payment becomes dangerous it is the main draw beg of this mode Cashless payment mode is fast and time-saving, but its draw beg already discussed.

And last I say being cashless is more better but never share your password and OTP to another one. These are a secure thing so and if you don't know about this process than you ask with your citizen they give help for you.

Thanks, have a save life and become digitalize.

Digital payment is quite a new and good step introduced in the economy as it would make fast transaction and save our time.

But India is a country with a large no. Of population and majority are unaware of it mostly in the village areas. It might take time for each one to go with it as many have not got their phones to be smarter. It is quite difficult but not impossible. It can be only achieved if every aware citizen participates in it and help the people who are new to it. We should not consider it to be only government duty. It is our duty and we should convince others and satisfy ourselves to a new change.

Good evening everyone.

According to me, because of digital payments government can easily track the black money transaction but I think digital payments is not enough to secure for Indian economic to go cashless because many small shopkeepers are not much educated so they will face many problems because of the cashless transaction. I also felt unsecured when there is a huge money transaction through online, So think how much they fell insecure.

And one more think the government is also not promising people for compensation if any type of fraud happens.

Hi! Everyone.

My answer for ''Are digital payments secure enough for the Indian economy to go cashless?'' is No.

Toady like other developed country India also needs a cashless economy. And the digital payments or we can say e-transaction likes,

E wallet.
UPI payment.
Paytm, Bhim, PhonePe, Tez etc.
E-banking.

Are good enough to do so, but they are not secure enough.

Because there is chances of cyber attacks, hacking kind of things due to lake of awareness towards digital education. Our Government have to taught the common people who don't know about these thins they are still using a simple feature phone. There is not even 3G in remote areas, so the company n Government have to make sure there is good internet connection available everywhere.

I support cashless economy and also I against cashless economy.

I support cashless economy because it is very helpful for save the time and money because in the companies online transactions is very impotent for the business and also it is very impotent for the banking system and government policy.

I against cashless economy because for the Indian people cashless economy is not possible. Because all the Indian people does not know how to use online transaction. They do not know how to use credit and debit cards. So for the Indian people cashless economy is not good.

Yes, I can say that but I saw one thing I saw many cheaters are doing their work very clear like they were sending one link and written in their please link on this link to see your bank detail and when we are clicking within a few second one message were come on our phone is 35k is deducted from your account so there is a big drawback of digital payment so if you are doing digital payment do but never save your card on any application for the frequent payment and I can say one thing that by only digital payments bank load is also reduced and in previous year if we want to do send money to other bank account or if we want to withdraw cash then we will have to stand in a queue for 2-3hrs and in nowadays we just enter amount and click money will be sent within a second. So, we all know that if there is some advantage then there is some disadvantage also.

In my opinion, digital payments are not secure enough. In support of my opinion there were many frauds, robberies happened, when people have been using it. People are victims in the case, as intelligent cyber criminals are playing it safe and ease.

As it is very much productive by saving our time and energy, going cashless is always helpful.

Digital payment apps are playing a key role as we can do money transfer within minutes from anyplace if we have internet connectivity. The another feature is that we can keep track of our bank account i.e, we can check balance amount, block the atm card if it was lost.

According to me, I can say it's not enough for the Indian citizen because here it will be very city to city as example Delhi, Chennai, Bangalore, Mumbai ect metro cities can manage to a digital payment that can be cashless economy for the city because as we Indian our backbone is agriculture. So our farmers lived in rural areas till the time our farmer not able to get water on time and some time network issue and almost our farmers are not fully educated so it may difficult for them to do transactions its. And for digital payment need android mobile our rural areas people not affordable for everyone. There is lots of problems in India.

Greetings Everyone !

Our topic is "Are digital payments secure enough for the Indian economy to go cashless".

Digital payments is widely prevailing all over India and in foreign countries. Because people find it easy, time saving, proper records of the transactions in no time. If we look back when Covid-19 Hit our country, hardly 10% of people were using Digital payments because they were not use to it and also very worried about banking frauds, but in Pandemic people were not having any option to any other option to transact of their purchases. Main reason behind this was no one was allowed outside so they find this very easy way and at that time only they got habituated of it. Digital payments not only safeguards our money but also it gives track record of day to day transactions. Proper idea about where exactly your money is going. It is Safe but it also have some drawbacks which one should be very alert while paying through UPI, before entering pin must verify your receiver who you are going to pay. This will safeguards your payments/transactions. Only problem will be faced by our illiterate people, still they hesitate to pay online. It will take more decades to cover this problem but soon India will be totally Cashless.

Digital payments shows its an secure transactions but not actually it is. The more the technology is enhancing, on the another side cybercrime is also increasing along with it, if Goverment is taking measures to frauds, like millions of amount get debited daily, if there is no solution for this how one will continue his digital payments, if one has suffered he will got to know more people and they will also reduce their transactions, one will only continue digital payments when they get proper solution of their issue.

We have to look in both the perspectives then only everyone will make an unanimous decision.

Now 90% of Indians use Digital payments and 10% are still not aware, this will automatically increase in coming decade with lot more benefits.

And soon whole India will use Digital payments, Now already our UPI is accepted Globally in many countries like Paris, sooner the counts will level up.

Hello friends,

Ln my view, India can become a cashless economy only if lower income class participation on account of digital transactions are being made. Looking at the wider spectrum it is only the rich who are enjoying the comforts of digitalization. For bringing in equality in digitalization, the poor must be provided with awareness as to their relative advantages by extending them internet facilities without fault. Proper allocation of funds should be exercised. But on the other hand, there are dangers lurking in digital platform. Hacking, fraudulent activities and the likes are hampering it's prospects. Therefore enhanced security features must be installed so as to curb the problems. Authorities should acknowledge their customers not to list out their credentials to others in any circumstances. There should be clear cut instructions regarding not to respond to messages seeking passwords and other details. I suggest that there be balanced approach to make digital transactions a great platform for digital society. Thank you.