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

I think the digital transactions s necessary for our country. it reduces the time and also we can do transactions at any place and time, all those UPI banking apps are encouraging by providing cashback offers through OTP so that we can have extreme protection for our transactions. but this is only suitable for educated people. some anti-Indians are made use of this illiterate peoples and get their bank details and cheat them. so the government and banks should give proper awareness to peoples on online transactions.

Yes, they are secure enough and even more security is provided to it using the OTP concept that until we don't put the OPT the transaction is not completed so even if a hacker tries to do it that won't be possible without the OTP. Coming to the rural areas they need education for it and government should lauch such programs to spread awarness about the digital payments or sessions should be conducted on it and training should be given to performing the digital payments.

According to me, the digital payments are not secure enough for the Indian economy to go cashless. As it needs proper technology, awareness, knowledge, connectivity and in the country like ours connectivity is very poor although jio has reached to a great extent still all the rural area has not developed yet and also digital transaction can be failed, can lead to money loss to that person who is in urgent need of it and his cash is faltered.

So, prior to digitalisation, India needs development of rural area so that they can also use it properly and also it needs a good amount of trust. i.e the transaction can be cashless if it is not faltered between.

The Cashless Indian economy, rather quoting cashless I would rather say less cash economy. 31.16% is the urban population of India, the urban population rapidly get used to e-wallets, netbanking and other digital payments but what about rural areas.

Coming to the safety, the actual online transaction is 128 bit which is the second most secure with compared to 256 bit. Initial the use of digital payments was so low because of the fear of hackers hacking our bank details. But as the time change, the present generation is rapidly getting used to it. Eg: Paytm which had come out with an idea of online banks.

Yes, this is a time to make India cashless. Nowadays, there are so many digital platforms like Bhim, Paytm, PayU etc will save our time in banking transactions. In earlier days we have to stand in long queue to perform banking operation and it has to take a long time to proceed. My point of view we have otp and right click will go to operates accounts and we have apps like bhim, paytm, goole pay etc.

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.

Yeah, I am agree India can go cashless as we know that earlier days we have to stand in bank and for 2-3hr waiting to transfer money, transit money but the time for doing this is too much and on the other hand digital India will have online transaction in which we can operate all types of payment with our mobile having internet connection.

As we all think that it not secure but in my point of view we have ltp and only right will going to operate account and we have apps like Bhim, paytm, google pay etc thus I wanted to say we have to take one step forward and support for the casheless transaction.

Digital payments saves our time and energy but not secures our money though it is a way of developing our country sucurity issues are main idrawback of this method and I think that this method not well go with illutrate peoples and this will not siuts our economy.

Thank you.

Yes, this is a time to make India cashless. Nowadays there are so many digital platforms like bhim, paytm, payu etc will save our time in banking transactions. In earlier days we have to stand in long que to perform banking operation and it has to take long time to proceed. But through this digitalization one can enjoy the banking operatios within a fraction of seconds. Even though there are some threats like hacking its good way to make India cashless.

Thank you.

We know that online payment is easy but it is not as secure as we think, we have to fallow right instrection and must be sufficient knowledge of about onine tranjection. When we use online tranjection we have to be active and don't be careless at that movement when we doing that. If we are carless on during online tranjection your account detais can be easly hacked by a hacker.