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

Hi everyone one, digitalization is one of the decisions made ever.

As per the corruption in India is considered and storage of black money can be prevented.

The problem of illiteracy to understand the digital mode of payment by people can be overcome by means of conducting camp by the government.

In my opinion, the cashless economy is a great idea. But the present architecture says that we can't totally go cashless.

First of all, internet connectivity is still to reach to many. There are many areas where internet connectivity is a luxury the people are deprived of Even if internet connectivity is present, there is an issue of proper connection. Experiences suggest that many payments haven't completed properly due to irregular connectivity.

Secondly, internet security in India is still not at par. Those "e-wallets" are not much secure.

Hello everyone,

In my view, going cashless in a tremendous step but before moving towards this goal we should ensure that many steps are taken into consideration for account safety due to online frauds. Recently we all have witnessed a cyber attack named 'ransomware'. Another hindrance is low percent of knowledge about the online transactions by man of streets. They do not know how to carry out these processes. We will be able to save millions of tonnes paper thus our trees due to cashless economy.

Hello, everyone.

First of all, the topic must be understand that whether the cashless economy is contributing a lot in economy enhancement or not.

According to my view, there is an issue of 40% /60% i.e. the 40% of the people who actually part of digital economy contributing to its 100% where as those 60% people left contributing 0%. Those who are found it hectic in indulging themselves in long digital term process find it extra time to take than a direct mode of exchanges.

So those 60% people will get substracted from their economies digital contribution which was not in the case before.

The demand of the time us to increase the facilities, not the standerd. Facilities when grows up standred automatically grows.

Digitalization is giving a very good impact on India 's image on the world market but its like you are making them to see oy the outer shell. Whereas the strength comes from the inner toughness i.e those 60%.

So according to my view, these should be the level of digitalization.

Information.

Facilities.

Reduced cyber crimes (so that people can trust).

Reduced process.

Actual implementation.

Yes, I think in many ways this digitalization is very much secured as our growth rate compared to all other developing countries is far better in all prospect. Only think we have to take care is that to be updated with our modern society and give more concern towards literacy and technology through which we can not only accept this digitization but also make ourself much familiar with modern changes.

See, any system has some of the short comings but considering only the shortcoming of the system can never results into a positive result.

We should think about the various benefits of digital payment such as hassle free transaction, we can avail service any time & anywhere, transparent service.

Due to its dependence on the internet there is a chance of hacking but even our government has a positive approach towards making the system more and more transparent so we can rely on the system.

It is the responsibility of the government and the educated citizen of India to make the people aware who have no knowledge about the internet.

In my opinion, being cashless is good because we need not get worried when ever we don't have sufficient money with us to buy some attractive things which we want. But the thing is that it is not always possible in every situation because whenever we are in rural areas we don't have this cashless system so we have to pay money. & also hardly 25% of our total population would have known about being cashless so it is the duty of the govt to organize special workshops for this & many parents don't have idea About this. So it is the duty of their children's to train them to make them understood & use this in a smart way.

According to me, up to now the digital transactions in our country were secure enough. But cyber crimes were increasing day by day such that we have to be very careful about our online transactions. We have to be aware of which type of cyber crimes were occurring and have to take certain measures to reduce such type of cyber crimes.

Hello everyone,

Firstly, the point of going cashless came into the limelight just a few months ago when our Prime Minister Shri Narendra Modi announced the banning of 500 and 1000 rupee notes.

Let us first get to know what is the meaning of going cashless actually is:

I) It means that we must be able to complete each and every transaction without getting into the hastle of finding change and without getting into the trouble of carrying our wallet every time.

II) It means that every single transaction that we make is transparent and is clearly visible to the authorities.

There are a few prerequisites for going cashless:.

I) Everyone must have a reliable internet connection.
II) Everyone must have the basic knowledge of using the internet connection.

Well, as per the current scenario we can assume safely that yes our digital payment techniques are secure enough for performing day to day transactions. Said this, our society is not yet ready to go 100% cashless even if the payment methods are secure enough.

Since this is the age where we find a new tech every day, we cannot guarantee that the methods that are thought to be unbreakable will remain unbreakable in the future as well. As the eavesdropping techniques are developing so are the techniques to prevent are being developed. It is our duty to embrace the changes in our society and just hope for the best.

Hi, everyone.

In my point of view, India is going to cashless is very good thing. Its increase our economic growth (GDP) but an issue is that in India 50% people have not a knowledge of the online transaction and it is caused by cybercrime. So firstly the government should aware to the public for digital payments and improve the cybersecurity for online transaction and give more knowledge.