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

Digital payments show that development of our country but this system activated a few decades ago in other countries like US, UK Etc.

This system leads to a reduction of employment in the banking sector. Only cities are getting benefit from this cashless money but village people are aware of this system because of lack of atm, mobiles, swiping m/C in stores.

Digital Payment to develop technologies into next level and secure handle our money anytime. Transactions possible at few minutes only. Reduces time and manpower but online sometime traffic will affect transaction results not in there. Sometimes our money will loss.

Dear friends! Digital money or we can say virtual money is safe as far as the physical theft or robbery is concerned. In cashless economy lakhs your money will be in your pocket more specifically in your mobile but you will not be feared of theft. But believe me " where is money there is robbers" if money will be virtual robbery will be virtual. Hackers will rob your money that too seating in very distant corner of this world. So every coin has 2 sides. But which side is have probably more possible that depends on preparedness of our country. So the question is that are we equipped enough to provide safe digital economy to India? Unfortunately the answer is "No" but can we be capable enough? The answer is "yes".

To opt for cashless economy digital payment can be a better option however, we need to take care stream which we are about to consider such as paytm, jio money etc. And the privacy facilities that are served. To avail the cashless economy we need to initiate the usage awareness and recovery money factors availability if some malicious activity takes place. Then to there is less amount of fraud cases are coming forward as far as security part is concern so yes digital payments are secure enough for cashless economy adoption.

Hi, one and all I Am Deep Shah,

I feel digital payments in India is not yet secures as big chunk of our population does not feel safe to go digital and many of them don't know how to operate new gadget as well as new technology. The also don't know how to pay digitally. So our government should start campaigns for awareness of digital payment and should inform them how safe it is. As of now lots of peoples are moving towards digital payment. The use of Digital payment was very high during Demonetization.

Digital payment method reduces our manpower & cashless transaction, also saves our time. But if there is corrupt in programing of digital devices, in this world there are many hackers skilled expert to hack peoples bank account & exploit it. Somewhere it helpful to Indian economy because we all live in bigger population, so it mostly saves our time & money transaction is easy for us.

Hi myself Rakesh.

And I think this system is quite good for the development of nations income and it also helps to reduce the manipulation.

My opinion, digital payment is the best system for transaction of money.

Such as;

1) less time consuming method
2) easy to learn payment system and for unletaral persons may be learn by arranged some classes by gov. Like mobile learning
3) safe and secure system because they are conected with ur personal mobile and otp also come have you and also connect with bank system.
4) lack of crowding in back branch.
5) speed process for just a second.only
6) lack of roubry and theif in traveling.
7) reduces the over envestment and false money because limiting providing money in per month.
8) country economic development is easy.
9) corruption is reduced in an election which providing leaders.

Thanks.

Hi! everyone.

Let me share my opinion. With digital payment, time will save. But as there is a risk of a hacker, here we can overcome that problem if we use the application which is provided by corresponding account holder bank and also approved by RBI and RBI must take the responsibilities of the transaction. And if there is an accident (hacking), RBI should investigate and should refund that money to that account. I think with this approach everyone will use digital payment fearlessly.

Hello,

As the discussion is about are digital payments secure enough for the Indian economy to go cashless. So for this my opinion, is as of now India is not advanced and secured the payments to go completely cashless. But with the same efforts, advanced technology, adoption of rescue measures against cyber hackers, more protection to bank accounts, speed of internet facilities, initial offers for inducement and classes and awareness for village people about digital payments (as our country is with much with village people who are illiterate) can achieve in the upcoming years.