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

Hello friends,

Our country is currently going towards to become cashless and it is very much important to aware the people who do not about it. It decrease the chances of robbery and losing the money. It assist us to transfer the money through mobile and we can fill many kinds of bill such as electricity, water and can book the railway tickets and other transportaction tickets. It helps us lot to secure our money and its time to patronize the people who are not aware of it. It is only possible by floating awareness program among the people. From the last month some states of our country taking steps to be cashless specially in the rural area's.

Yes, it is beneficial to go cashless because if we have hard money then it is the best reason for corruption, corruption is not goes out but we control it by go cashless and by the soft money we have no chance to rob by someone if someone steals my wallet then I cancel the transaction of my debt as well as debit card and renew it by going nearest branch.

Hello friends:
First of all their are many benefit to go toward cashless. It is so easy to transfer money from one account to another. Also their are no chances of robbery as we do not need to carry any cash.Also we do not need to carry out ATM card and do not need to queue up for ATM withdrawal.
Again we get various discounts coupons in cashless purchasing. Also their is no worry about to maintain the bank note from water and wear and tear .
Lastly , their is a huge savings of resource like papers and metals. But completely cashless is not possible at this stage. As in the rural area, many people do not have any cell phone at all. Also they are not so much educated for cashless transaction.
So,in my opinion , completely digital payment is not secure all over the India. But in city area it's secure

Hello friends:.

First of all, there are many benefits to go towards cashless. It is so easy to transfer money from one account to another. Also, there are no chances of robbery as we do not need to carry any cash. Also, we do not need to carry out ATM card and do not need to queue up for ATM withdrawal.

Again we get various discounts coupons in cashless purchasing. Also, there is no worry about to maintain the bank note from water and wear and tear.

Lastly, there is a huge saving of resources like papers and metals. But completely cashless is not possible at this stage. As in the rural area, many people do not have any cell phone at all. Also, they are not so much educated for the cashless transaction.

So, in my opinion, completely digital payment is not secure all over the India. But in city area it's secure.

Yes, it is secure but at what level it needs ti be secured it is the main point. As digital payment bring transparency help in reducing corruption and it also saves time. Recently we have heard about ransomware virus many of us stop using digital payment methods at that time because of that. So yes digital payment method is one of the best methods of payment and to make economy transparent but it still questioned that how our cyber authorities will manage the virus and hacking or other malware activities. In digital payment, no one is questioning that digital payment is best but yes how secure it depends upon several things such as.

Our government has to provide digital knowledge.

The Literacy rate of India.

Backward area education rate.

So when people are aware of that yes digital payment is secure but still we also have to aware about everything about hacking and malware things then we can say yes it is enough.

I think digitising is the smart step ahead of the future of India it will definitely save our valuable time and will help transitions easily and it will provide other advantages also.

But just think for a second what about the people who are not able to buy Android or any device which supports this digital transformation the people who lives in village and depends on only hard cash they have in their pocket also for the one like us there's another major point is this going cashless policy is secure?

I think this transformation has both the sides of the coin and I am will be please to know if there's some suggestions or ideas about these problems from you all.

Hello friends,

As per my opinion, the digital payments are secure and it is the best way of completing the transactions. But, when we consider the digital payments as an option to go cashless, then it is not possible for the Indian economy.

Before completely relying on digital payments, we should not forget that it is not possible to get the internet access easier for the people living in villages. If internet access is made available, then also it is not going to be an easy task for the illiterate person to go through the process!

Hi friends,

From the above discussions, the following were the major disadvantages of offline payment:.

1. Corruption, which is the suffering of a common man. If you want to have your work done, you have to give extra expenses to corrupt officers.
2. Robbery.

Following were the major disadvantages of cashless payment:.
1. Rural Illiteracy.
2. Hacking.

According to my point of view, the issues of Rural Illiteracy, hacking and robbery can be solved up to some extent. Yes, steps of rural education for cashless payments can be initiated by the government. Measures for keeping the online money out of reach of hackers and robbers can be taken. But in the offline money, the extra bribe which we pay is divided into several parts and every concerned officer up to the extent of politician has a share in it. So it can't be undone so easily.

So, according to me, we must adopt for cashless payments. Measures for rural digital education and hacker security must be started. It will eventually lead to a corruption free India.

Hello friends, in today's world everything is unsafe so you will not be able to work in such situations if we do not dare to do any kind of work. So I think in day to today's life digital payments are well secured. Personally, I had not faced any kind of issue while I do payments digitally. So I think if we do the work what we want without going to the sites we should not visit (fake websites) we are safe and India should develop the infrastructure for the same so everybody in this country should feel safe to do any kind of transactions he/she wants. Thank you.

May it be safer to transfer our money but if a hacker hacks that app it could be difficult to rectify the problem if our mobile is being hacked they could use our account and other details for their use. So it may be safer and may not be safer.