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

Yes, digital payments are secure enough to use. Nowadays fastest growing technologies, businesses need fast and reliable data access. Electronic devices have become ubiquitous, offer easy connection to everyone people get all type of information on their smartphones, computers then why they should not use these electronic devices for payments. Yeah these electronic devices are connected to open a web which increases its vulnerability and data exfiltration but many companies are moving towards cloud services providers (csp) , in this case, one may not know the security measures being implemented for protecting the data so no one can hack the data. For authentication while accessing the data data it is not enough to put username and password only but also it requires mobile or email OTP verification which make payments secure. But in India most of the people are illiterate they even do not trust on themselve that whether they could use these type of digital payment modes so we need to educate them by campaigning village to village and make them learn how to apply security measures for digital payments.

I think it's too much better for everyone because in our country snatching problems remove. But digital payments only in urban area not in a rural area so our government take action on this and aware about this to rural area people. I think many engineers and doctors are from rural area and its work in an urban area away from your home its not live with our family so the govement take the job in a rural area for aware to the rural area people.

Digital payment secure for the Indian economy to go cashless because it's from our country economy increases and growth.

I think it is a fabulous concept to make India cashless. But for now it can be applied only in urban areas and that too after the proper training programs, high internet connectivity in all parts of the urban area and with highly secured networks. To implement digital transactions awareness need to be created through different modes like social media, television, seminars etc. Secondly, a help center is to be made to deal with cyber crime and immediate actions to be taken against cyber crime.

Partially, I agree with the idea of digital payments as it can be useful in urban area, but as India is a country with more rural parts it can't b implemented in rural areas due to various reason, one such main reason is because of illiteracy among most of the people living in rural areas, and the people living in rural areas find it difficult to make digital payments as they are not aware of the technology and the procedures of digital payments. Another major issue is network connection as Internet facility is not available in many rural places, and security issues as nowadays we come across hackers hacking the AC so although digital payments is secure enough for the Indian economy to go cashless because of all the above reasons the idea of digital payments is not completely agreeable.

Digital payment must be apply in big cities like Delhi Mumbai Kolkata etc because it will save peopl's time and energy but in rular area it should'nt apply because of low internet facilities and illliteracy of people it will become hard to go cashless.

Hello friends,

I would like to conclude from the discussion, Its positive point for India to go cashless, which can help people to make their work done very fast. Its a very efficient system in country with huge population. As we all know, with every pros there are some cons. This system is actually useful and efficient for the population who are acquainted with computers, smartphones and other technologies. But the population who is living in villages and considered as backward class has to be educated about the basics of using smartphones and computers, so that whole India can efficiently use "go cashless system". Something has to be done for Cyber crimes and other monetary crimes. If all these cons will be resolved or atleast some steps will be taken, Then its big advantage for country to go cashless.

Hi Friends.

I am glad to speak two lines about this topic, my point of view is that, this can't be implemented in India according to the current scenario of our country, the most important reason behind it is the education, as we all know that India's literacy rate is very poor if we talk inclusively, and for the case of digital payment in their all transaction in life, they must be aware of what it is and how it works and what may be the threats, and for that they should have proper knowledge of using Internet Connection and also about security, so that those people will not share their credential anywhere,

And the second point is there must be good Internet connection speed and good traffic management in this chaos of Internet world, this threat can be felt anyone even who are aware of everything about usage of net, and some of us have already come across the situation where we did payment from the bank getway side and for complete the transaction it has to return to merchant site, and the webpage loaded and loaded for a long time and at last it failed, saying your session expired or something like this. So for safe transaction speed must be increased and traffic must controlled.

So my conclusion is, although Digital Payment is good Idea, but can't be implemented as compulsory unless and util we do not solve these type of problem in the country.

Thanks.

I think its a good idea. But nowaday India is developing country. If we go cashless it help people to reduces there effert in banking and types of money tranfer. It is good for the people for cities or urban area.

But we all know we have large number of people we belongs to rular area and they don't know how to use technology. Our letracy ratio is quite low. Even most of people of villages don't hav bank ac.

So first of all if we want to go cashless then we hav to focus on improving litracy ration of people. We should also runs some kind of training programe and by means of social media or television we should go throught seminars on Cashless economy.

Along with that we should also focus on privacy and security of digital system. As we all now hackers are exist and they can steal the money from ac. Of innocent people.

But finally by all means it is fabulous ideology and it will improve the today method and life standard of people of our country.

Thank You.

Delighted by your answers people. India needs people like us who have strong views regarding illiteracy and poverty. Yeah for sure digital payments will be a step forward towards safe and secure transactions but the thing is its beneficial to 50% of the population. Half the people will struggle not only for jobs that the banks are providing but in this new advanced technology too. We need educated Indians in this context. Thanks.

By digital system fast transactions are possible. Long queue system will be decrease. But India is not an educated country. Not all the people can access this system due to lack of knowledge. In rural areas even people don't know about how to operate ATM. So for them using smartphone for transactions is difficult.

I will never say India will become a cashless country but it can be possible if and only if people will be educated.