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

In India, cashless transaction is not possible because benefits our earth and our government known not to help ebazar government is not helpful to catch then the is Cyber crimes we also can speak with also can say that in her in her past days many Chit Fund marketing companies cheat us so it's very it's very difficult to cashless transaction to provide without any security features we can say that here in our country and its a very difficult task to cashless economic in the in India many problems are here to for cashless economy key because many people did not used mobiles and and and feature of the cashless transactions so we can say that it's very difficult to digital payments in India we can see in marketing in marketing in marketing company still running in market and and government did not take any action on this continuous see if it continuous us continuously if you say so we know that we should have the cyber attacks people.

Hello, friends.

According to me.

Digital payment may create jobless situation because all the bank need only two or three guys for work then why they will hire a new candidate.

And India has many populations, a lot of jobs needed and if the computer will do all things then. What about us.

Think it. Thanks.

Hi, friends, according to me for any digital payment mainly net signal should be present.

In villages, the lack of signals frequently at every place. So to implement that in villages is very hard task. Also many people in villages are illiterate. Taking that into account firstly we should educate them about this and then deal with the low signals problem in village.

Last but not the least it may be quite jovial but the advantage for use of it is savage of trees. Thank you.

Digital payments require Internet which everyone don't have access to.

And India don't have high speed Internet access yet.

It's good to hear many of you really have spark about our country's economy system I also have my views that technology never fails we people fail to regulate it every good thing takes time as I believe it's really gently a step forwarded to bring stable n secure economy system of India n yes it may bring lots of difficulties while regulating in starting. Digital payment secure enough when we make aware as possible.

Yes, digital payments are secure enough. As banks use 128bit encryption for sending passwords. The whole banking site is encrypted.

But some people who lose their money is due to a phishing attack or revealing their credentials like user ID passwords, card no, cover, otp through any means.

This does not happen due to lack of security but due to unawares about what is safe and what is not.

In India hurdle in going cashless is illiteracy not security.

So, to go cashless India should aware its masses about digital payment and precaution in using it.

Hello, friends.

The term cashless seams to be very attractive but the reality is today in India we cannot go totally cashless these is due to two reasons first in India everyone is not so educated that cashless mode could be operative by masses and secondly the increase of hacking. There is an increase in the number of cases where people's credit or debit card were missed used for the complete cashless economy we need a base of education and securitization. Indian economy lacks in both so it's hard to say that if Indian economy is ready to go cashless.

Thanks.

Hello friends,

Digitization is the truth of today, which could not be escaped and it's relevance and importance can be gauged from the initiatives like "Digital India" that the present government is pursuing diligently. But the struggles in leading India towards Digitization are imminent.

Among them, Security of our Digital Payments comes at the top spot. Howsoever, useful a system is, but without security, all boils down to nothing. And the recent ransomware attacks shows that the system has many loopholes. Moreover, the tendency of Indians to hide the true picture, which came to light, when many companies did not report of the attack, is disquieting.

Thus, we need to first develop a robust security system, which seems to be lacking in present scenario for the Indian economy to go completely cashless.

Hello friends,

I agree with most of you.

Digital payment truly is the next big step towards our economic development. The demonetization has already made digital transactions common among the masses. It is fast, reliable and yes you don't have to worry for a change! No need to carry bags full of money. All you need is a mobile and data (which is also cheap nowadays).

Now coming to the main point, whether it is secure enough to make the entire economy to go cashless?

As of the current scenario, no it inst. A large majority of people living in the villages are still miles away from the word internet (the backbone of the digital transaction). Also, you have those rigid "why should I use digital transaction, if I have cash" people, who can be easily exploited.

While some of you have mentioned about the recent ransomware attacks and issues regarding cyber securities, indeed it is a matter of concern but digital transaction websites are nowadays are investing both their time and money to improve this.

I would like to end by saying that, to truly make our economy go cashless, it is necessary to educate people about it and then encourage them to practice the same. While it might take some time, cashless India can actually become a reality within the next decade.

The main thing is first government need to increase the literacy rate and provide the required facility like Electric Supply Exedra when implement the digital payment proposal otherwise it becomes a Blender failure frankly speaking in present situation digital payment on not enough to secure as we are facing problem with Bakers and cyber criminals so there is need in development in secure website from there except than digital payment or handed person secure enough for the Indian economy to go cashless.