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

Yes, digital payment is a good initiative towards the cashless economy it will reduce the manual workload and very helpful to reduce the crowd in the bank, The result will be that it not only reduce the manual workload but also helpful for the environment to save the tree. But there is small risk is that in India large population is not aware about the technology so we first we should to educate them about the technology.

Hi friends, according to me, in India still cashless transaction is done successfully. But there are many more problems in a cashless transaction. Related to security, Still, India is not completely sure that the cashless transaction is more secure.

In country like India which is a developing country it is not possible to be cashless totally because of many reasons. Most important is even half of the population of India is totally aware of the Technology they don't now to operate smartphones nd computer properly so it take time to make cashless.

It can be enough for the Indian economy. Because our Indian country is a developing country not only in money, but also in education. Our Indian people can learn anything easily without the education. So if we teach, create or conduct one awareness program, guide them about the security level (to tell them don't share your One Time Password, PIN to anyone) in a clear manner means, then they easily understand the purpose of use it. When this process is proceeded means, then the Cashless Scheme of an Indian Economy is going to worked out. Awareness is main, security level with full confidence is the important thing to consider in this consideration/process. With full of Creating one Awareness Program and full of confidence with security level, proper guidelines is provided to the people means, they can easily use it and is going to be worked out properly.

I conclude that the Indian economy is more secure enough to go cashless world.

Good morning to all of you As according to me digital payment is secure but it is not secure enough first if you have to give huge amount to any company or people it is secure and if you have to take or bring money from the person who live in city then if you bring or take cash then it is risky or chance of robbery in these way digital payment is secure but in our country many people are iletrate and also have not afford gadgets for online payment then in these way it is not secure because if we don't know how to use any thing then how can we use it on large scale and also a problem of cyber crime or network is there so I think first change the mind of people then do it because it is a great way in the field of technology and also it is a chance to make our country educated and developed.

It is good to make India as cashless to develop the country and to save the time, if there is a need every one could learn for that need here after making cashless as compulsory every one tend to come to learn how to make transactions digitally, but as well as transactions errors will occur govt need to take action on it.

Digital payments are already in existence before implemented but the usage is low, after demonetization the transactions were registered more in number terms of online transfers, paperless transactions. Compared to China, the digital transactions of India is gradually increasing. Before demonetization, we have strong numbers in cheque transactions and debit card usage. The cardless transactions were secured nowadays by sending OTP codes while transactions were happening. So there is no problem for security purpose but, we have to be careful regarding sharing of details with unknown people.

Hello friends,

In India the technology upgradation is moving fast, every year we are witnessing a new type of technology and hence I would say that, yes the digital payments are secure enough for the Indian economy as the technology is getting better and better. Now to what extent it will be secure will depend upon the awareness of the user of digital payment technology. There are ways through which the digital payments will be secure enough such as 1. Password consisting of both and Aphanumeric and Symbols combination, 2. Checking statement regularly. 3. To use trusted website. 4. If using more than one digital wallet, never keep same password. 5. Changing password regularly.

There are few cons which are there is, 1. Chances of hacking (even more if using public WI-FI). 2. People from rural areas are not competent enough to use this digital payments.

In the end I will say that there are more Pros than Cons, there are risks however it can be eliminated if we take proper care while using this technololgy which will lead India to cashless in a safely manner.

Thank You.

Going cashless is certainly secure if compared to carrying around wads of cash. One can do nothing stealing an ATM card without knowledge of PIN, or password for online banking. But only up to certain extent. I believe on card transactions as the cards are linked to bank networks which were developed well before, also I get a confirmation on my mobile. But with these new cash transaction apps coming up, which may be still amateur networks, are very prone to get hacked, that is where I think is a weak link in the chain.

Many of us said before there is a large group of people having lack of knowledge regarding these online, cashless transaction. Certainly, these people can be easily fooled, but this new toy must be given in their hands only after proper guidance, the importance of keeping passwords, PIN a secret, and this a challenge that must be taken by us and promoted by our government, to make digitalization a success and secure.

Hello everyone!

Digital payments are good enough, I agree ! but for what percentage of the Indian population, very little!. Have you ever notice that most of the Indian population don't have their own bank accounts, most of them are daily wage workers and their income is much less if they put that money in their bank account money will automatically get deducted because they can't maintain minimum saving account condition.

India will automatically be digitalised when our literary level increases i:e when our Indian people gets the opportunity to explore themselves. Though our government is always trying to uplift the education system, so it's people responded to take the advantage and make India fully developed and digitalised nation.