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

Hello everyone,

As we all know India is developing towards the digitisation. Everyone now turned or cultivating themselves into this digital program. But still, we get a question in our mind that is it really good for our self and as well for the development of our country? but yeah my answer will yes. Yeah, I know there is lots of things which was not yet getting too improved in our India like some peoples are not aware to this cashless programs, online transaction but still I will support to go India cashless. Because instead of counting vulnerabilities in our dig ital program system we can improve the bright side of this. And we will boost this at another level so no one can get feel insecure while doing this digital programs and no one even thinks or getting doubt about digitisation in India.

In my opinion, digital payment is a very good initiative for the Indian economy to go cashless. But there will be many obstacles in this process as many people are not aware of the digital payment especially the rural people. It is necessary to create awareness among people about digital payment and transaction so that they can involve in digital payments. A dream to make India a digital India is very important so that Indian economy can go cashless.

Yes, I agree with the cashless transaction but it is possible when we will improve our education. Nowadays Definitely educated people preferred cashless transaction but this all problems has been creating for uneducated persons. And India has many problems about the cyber system and law internet speed so first, we have focused on education and after we can focus not only cashless but all digitisation and we would succeed in digital India.

In my opinion, I would say yes digital payments are secure enough for the Indian economy to go cashless because in this 21st century if we talk about something really modern definitely we mean to our technology. And digital payment is nothing but a great technology to do money related transactions. This is safe as it provides you with OTP i.e. one-time password that you are told to not to share with anyone. So this makes transaction very safe for use.

From my point of view, digital payments secure enough for the Indian economy to go cashless. The cashless system will reduce corruption, save trees, very major factor time as now-times everybody is busy in their work and people don't to go to banks and stand n queue to get our work completed.

Where as matter of security of digital payments, we have strong system as you can see when entire globe was affected by WannaCry Randsome, Indian banking is among one of the least affected. Only few small banks of South India were affected there also not very big lose is reported. So we can say Digital payments in India is secure enough to go cashless.

Apart from online payment we can go to Augmented Intelligence in India which can lead India to a higher level of Financial growth.

Yes, digital payments are secure enough for the Indian economy we need to agree too that it is not totally secure but as far as it is concern with cash or cashless then the cashless is pretty cool option. With the help of this corruption will decrease, bribe ratio will also decrease and it saves the human effort as well as time. But it is helpful in urban area only when we talk about rural area only 30% (approx) of population know how to make online transaction, so the govt have to arrange some awareness camp some experts have to teach the rural population about the benefits of go cashless scheme and as a result illiteracy rate will also decrease.

Going cashless requires a robust IT infrastructure and good awareness among the people. In the case of India where the majority of the population relies on a 3rd person to get their transactions done, increased online fraud and theft is inevitable. Moreover recent ransomware and cyber attacks point towards the many loopholes in the IT system. Going cashless is the need of the hour but it can't be forced in short duration but in a phased manner to minimise the losses and chaos.

I think that digitalization is secure but it is not possible to go cashless at any stage. The poor and uneducated people can not handle this. We can try it on our own level and make changes in someone life but it is not at all for go to cashless especially in small purchasing.

Yes, the digital payments is secured enough as the govt of India took measures to create infrastructure for creating a cashless economy which is even accessible by common with a normal GSM phone without internet service using different USSD for different banks. The apps like BHIM, UPI are implemented after going through a series of security checks, the feature that provides security to an individual is his virtual identification number and a no of encryption techniques are used to secure the transaction from the DDoS attacks.

From my point of view, digital payments aren't way too much secure because in this digital world there are so many hacking threats out there.

But digital payments could be made safer than ever using net banking or mobile banking rather than using debit cards or credit cards.