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

Are digital payments secure or not, understand before we discuss understands what is digital payment.

Breakdown:

Digital Payment: MerchantIt is a type of payment made by a consumer/buyer who consume/buy any service or product from any merchant and paid him the amount digitally (not involving any physical cash cheque or demandThe merchant may be an online store or a local shop.

In Digital Payment we have two parties. One is service provider/Merchant and other is a customer. Security of digital payments depends on this two party. Each has its own role.

Customer: customer has to use its mind and basic intelligence while doing digital transactions. Some tips are:.

Never share confidential information with anyone over the phone not even to bank personally.

Bank personal never ask for any information over the phone.

Never share OTP.

Change transaction/login password regularly.

Keep update mobile no. In a bank account to receive transaction related alerts.

Never keep the debit card and PIN together.

Check the genuinely of the merchant also by observing the URL of merchant website (use common sense).

Update antivirus regularly.

Merchant: All renowned merchant use better security at their servers and protect customer data by using high-level encryption. They never share customer\'s mobile no with the third party and never save customer\'s confidential information.

So shop from renowned and trusted online stores.

There is one more party who works in background i.e. your BANK.

The possibility of leaking information from the bank is zero. Bank uses a high level of security to keep your money safe.

In recent days a lot of channels are available for digital payments like Mobile banking, Internet Banking, Debit/Credit card, Virtual cards, Wallets, USSD, Unified Payment Interface (UPI), Bharat Interface for Money (BHIM).

BHIM is an initiative to enable fast, secure, reliable cashless payments through a mobile phone. BHIM is interoperable with other Unified Payment Interface (UPI) applications, and bank accounts for quick money transfers. UPI which is highly secured payment channel and most of the banks in India offering their services through it.

CONCLUSION: Digital payments in INDIA are secured and the user has to be little attentive while doing digital transactions to keep hard earned money safe.

According to my point of view, digital payment effects of India because most of the people does not have the knowledge of it mainly effects on poor people because there has lack of knowledge.

Hello everyone.

According to my point of view, Digital payment is very good idea for our nation. And yeah in the starting uneducated people will face problems in understanding but for ex when we were children we all have a difficulty in reading words because at the time we learnt the alphabets and now we can read and write same like that people can learn and adapt themselves to the new technology and payment methods and if our government take care of those guidelines that everyone should follow to secure their account then in future we can see great change in our India.

Yes. Due to the cashless system, our economy will increase, that is good for us. But there is also a cyber threat.

Corruption should be decreased because the government will see every activity or bank details.

And the main thing is that every person gives tax to the government, which will be good for us.

But also there are some problems arise due to the cashless system. For E.G a person who didn't know about online transaction that means how to operate, he will face problems.

There is also a cyber or hacking threat for us.

Hi everyone,

In point of my view, digital payment didn't come in market now, it's before Modi government few peoples are using but Modi intention is every Indian must use internet banking then only corruption is decreasing, we are all support him then only our country will be developed after few years.

I know in India more than 60% rural people, but in rural area also we have banks so learn how to use internet banking then use it.

I think this is the first step of decreasing corruption.

As per my views, over this it is a very good decision taken by our Government. Now its our duty to make our India digital as many peoples said that it cause a huge effect on rural areas but guys there is a solution for it. As nowadays we see on railway station there is one machine like ATM which is used for taking ticket it is a digital machine as we saw government gives some jobs for particular person to operate that machine and give tickets to the person who doesn't know how to operate it. There were several machines but on some machines, there are agents who help the person who doesn't know how to operate it. This kind of process also may be applied on digital transaction for which we have to make a company who serves such type of facility. And for the new generation, it is very common to do such type of transactions. As the time passes away after some years it becomes common among all. So it is not a major issue for rural areas. One more benefit of such type of facility is that most of the unemployed get employment for such type of services.

Hello everyone. I agree that digitalization is secure than cash. But if we think in the direction of digitalization firstly we have to ensure that everywhere every corner of the nation facilities should be available for that. It is biggest challenge in the direction of digitalization. Some rural areas are so backward so it will be a long journey for our nation. Second thing is network. Network is also huge problem in step of digitalization. So we have to also step up communication system. If we overcome above problems than we can think about totally digitlization. And it will be really a great thing.

Hello.

In my point of view, digital payment is the best move by Indian government. Through digital payment, they can keep track record of all the transactions nd it will help to fight against corruption. We know that in India some people don't know how to use technology but it's our duty to educate them for a better future. Nowadays, I had seen that rikshaw wala is also using paytm. We can see the change that govt has bring.

According to me, it's a very good initiative by our government to encourage digital India concept.

Digital payment is safe and secure more than cash transactions you can track your transactions also it's easy to pay and quick.

Hello everyone! Today's topic is:- Are digital payments secure enough for the Indian economy to go cashless?

This is a burning topic. According to my point of view, our country is now strong enough to take such a big decision. We must appreciate this idea of digital payment. Digital payment is necessary for a healthy economy. We want a corrupt free nation. Corruption has reached at highest peak. So, to overcome from such issues we have to adopt this idea. Certain difficulties will definitely come. But together we can overcome these difficulties. No matter what is the literacy rate of our nation or how many people seldom use new gadgets, if we are together we can fight these issues very easily. This decision can remove corruption up to a certain level. This is a golden opportunity of making India-a corrupt free nation.

Jai Hind!

Thank you.