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

Hello everyone,

When we discuss about digital payments in india, basically two things are comes in front of us.

All people thought about llitrate & illitrate but my pint of view only one facter is important that is awareness, if anyone is aware about his/her account no one can hack his/her account. When we talk about urban areas there are some problems if government aware to these people by social media, tv, seminar help centre & some develpoment like electricity, net speed. Etc then PM Modi dream 'Digital India ' will be sucessfull easily. There are some diffculties are face in beginning but after some time its very easily and venificial for Indian economic groth.

Hi Friends,

In my point of view, the digital payment in an India. So digital payment was start first in Europe. Now it start in India which one is the Great system for country economic growth. But recently government get tex in transaction but which is also necessary for country but Accordingly, they should be given convenience as in Europe people. And remove tex for who is financial weak and student.

Thank you.

Yes, digital payments are secure enough. No company has any interest in playing with the safety of its customers. That threatens its own existence. It's the hackers and other frauds that take advantage of the limited knowledge that people have. So to overcome this preoblem, people need be educated on these lines. For eg. They should be told not to disclose OTP to anybody maong many more other things.

Hello everyone.

According to my point of view, digital payments is good approach for the Indian economy. I would like to quote my point with an eg. That is if we look few years back where is no concept of digital payment, people need to carry large amount in hand which has its own disadvantage like threat of money stolen even some time risk of life also. So by the help of digital payment we can use our money easily, securely and risk free.

Yeah, I also agree with cyber crime point of view. No doubt chance of cyber crime increases because of this but when we compare cyber crime with crime of stolen bags and life treating the ratio is still low. So it overall reduces the crime scene in pictures of the India.

Well my next point of argument is" its use". No doubt if we say it is hard to implement because we are not aware with this kind of system. But believe me nothing is hard to learn & use. Once everything is hard but when we Learn it properly it become easier for us. Think about our first step when we fall Down lots of time but we didn't stop there, we learnt it and make everything possible same in this case. Proper training and guidance make its use simpler whether people are from urban area or rural area does not matter.

Everything has its pros and cons. But when coming to India going cashless, it is a nice move for the development of the economy. As we can see cashless transactions save time and our work is done with just a click, be it money transfers, deposits, online shopping which took a lot of time previously have become quite easy and we needn't carry cash all the time. In rural areas it's little difficult to stimulate cashless trade due to illiteracy and backwardness although awareness can be brought through various campaigns, seminars. Cyber crime is also an issue to be looked upon and that area should be developed more for higher protection and security. So, concluding with a positive note that cashless transactions have evolved as a new era in progress of the Indian economy.

Hello, everyone.
According to my point of view digital payment is safe for those who are literate.. as we all know India literacy rate is at 74.04%.. they can easily handle or use it, but what about others 25.96% persons, a person who literate can easily get things but others can't..so if we want to increase growth rate of India so firstly we have to remove illiteracy from India because there are lots disadvantages:

1- Rural peoples do not have knowledge of doing digital transaction.
2- it is very risky as compared to transaction with cash.
3- it will increase cyber crime also.
4- And the most important thing is that we always have to pay transaction fees .
Being a student how much fees we would pay?

Hello everyone.

According to me, digital payment is 100% secure if user is aware of how to use the electronic payments system for example if they are aware that user ID and password should not be share OTP should not be share.

And if we Indian who are best in IT cannot provide security then nobody can do it.

Moreover it is more safe then to carry cash.

Yes, digital payment is secured. It's a safe and smart way for the transaction of money.

But for rural people it is little bit difficult but if they aware about this. Then they found it easy n secure.

Teachers should taught about the digital payment during the computer lecture so that children be aware.

About it. If they aware about it then parents can easly learn from their children "how to use".

Beside this, government should take care of network because transaction is failed due to network problem.

I also agree that e-payment is the solution of today economy. Carrying a bundle of notes has always been hactic, as it concerns much higher security towards being stolen or robbed. This new era of cash less payment initiated by PM Modi is a great way to send and receive money almost anywhere in INDIA. It has reduced insecurity amongst the people, as well as speed end the transaction process, as of now with few clicks you can send and receive amounts for which we had to wait in question outside the banks.

As this is a new method, it is sure to consume time, as it will have to teach to people not use to this way of using technology.

According to my point of view, digital payment is not enough secure for Indian economy because it has many reasons if talked about our country the people are so educated and there is much diversity in education but in other countries like the USA the education standard is mostly equal and other many reasons are that peoples of India is not able to digital payments because of electricity and because of the speed of net. Sometimes it happens that our transaction ate failed for many reasons. Thank you.