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

I don't think so that digital payments are secure enough to go fully cashless. It is good for small transaction but for large amount of transaction it's not secure enough to go cashless. As day to day we all are getting news of money is getting stolen by some hacker. Also the people in rural areas are so illtrate that the not even know how to manage your bank account or how to withdrawal money. It'll take time to aware the people about going cashless in India.

Greetings to all, as an opening statement I believe that digital transactions are not safe enough to make the entire economy of a nation as huge as India go cashless. However petty transactions can be done through this medium because the risk is lower. Its a common occurrence these days, hearing about hacking activities and loopholes in prevailing digital transaction systems. Finally, I would like to say that though such transactions are not safe, we still do them.

HELLO.

As per as my knowledge, digital payments for India is more important no need of carrying cash while travelling.

Nowadays it is very easy to transfer money within a fraction of seconds. But the thing hackers are trying to hack the accounts at a time we are facing this type of problems nowadays for this cybersecurity should be improved.

We have to think about the rural people of India Uneducated persons like farmers and labour who are going work on daily basis in agriculture Government has to do special awareness programmes to those persons. There should special ways to the farmers.

According to my view, digital payment is good for any economy. Everything has certain advantage and disadvantage firstly if we discuss its benefit it carries many benefits people can easily make payment within minutes they will not have to carry cash anywhere. It makes transparency in the economy because the govt will keep a record of every digital payment of every people. Transparency is helpful in stopping corruption in the economy. Apart from this it has some disadvantage in India most of the people are not aware of digital payments they do not know how to make digital payment and we do not have any availability of digital payment in every place. Other than there are some hackers who hack the account of individual and doing fraud it makes digital payment is not secure, that's why people do not go for digital payment they feel that there might be some fraud during digital payment. But to control this type of activities the government has arranged cyber sale who takes care of all these activities. On the basis of above discussion we can say now our Indian economy is not fully ready to go for cashless we will take more time to adopt this system.

Hello, everyone.

I think that the decision of our government is 100%right. We should support it. The cashless transaction is a good plan about to save our environment and trees. What you know every year how many trees are cut for paper. So, I think this healthy for everyone who is living on the earth.

In my point of view, digital payments are not secure enough because many of the Indians belonging to villages are not aware of this to a great extent so their accounts may be hacked easily.

If we talk about the benefits to go cashless then it is a really good enough for growing the economic system and it is more convenient for citizens but all the things are the rosy pictures for Indian civilians to go through the fully cashless system and it will be comfortable for everyone. We are living with the population where people don't know where they should go for discharge their waste. And the reason behind this is illiteracy.

We are bigger in quantity but not in quality.

In the country, the biggest population is surviving poor daily life facilities then how can they make digital payments.

On a side, government says about the digital payments and online transactions but on other bank imposes the charges on it and minimum available balance policy is the worst example of banking,

I don't understand why a person would like to have any relationship with banks.

I am not opposing the digital payments in India because it will definitely glow the face of our country but India economy at present time is not ready to accept it fully and everywhere in India.

After demonetization, many people of India started doing digital transactions like paytm etc. But I didn't face any problem regarding security and didn't hear about security problems from anyone. Digital transactions are more secure than cash transactions, you don't need to carry cash all the time, it reduces the risk of money theft, we can keep records of our transactions.

Nowadays people are going for cashless payments like paytm, Actually, this is a good system and it saves the time too, every time we cannot carry cash but in many places, people doest not know how to go cashless, especially in villages. They to be proper education regarding this cashless payments.

In my point of view, digital payments are required for the country like India to save time and energy by not standing in a queue. But before implementing this, we have to enhance our cybersecurity. We have seen a no of cyber breaches recently like in paytm, food panda. Due to this breaches, we lost our personal details. Another problem is that illiteracy level and net speed, network connectivity.