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

Yes, it's good for those who have proper knowledge about e-payment. IN INDIA, especially in rural areas people don't know about or have very little knowledge of e-payment so it's is difficult but not impossible. Government or Banks should take some initiative to provide knowledge about e-payment so that a huge population should also participate and take interest in e-payment with full faith and feel secure.

According to me, going cashless is a good idea as it helps to reduce corruption and there will more transparency in digital payment. But we can't neglect that more than 40% of people are illiterate in INDIA due to which making all INDIA digital will be not so good idea. For getting the effective result of making INDIA digital we have improved the illiteracy first i.e. we have to help the poor people in enhancing their knowledge, aware them what is happening and what will happen in future because there are many parts of India where the people haven't seen light, water, the internet, mobile phone too, so it will be difficult for poor people to opt for digital payment. SO it will be a wise decision to make INDIA educated first and then improve the security process on the digital transaction as many fraud calls are running (taking your ATM PIN by saying that I am speaking from this bank etc).

So, FIRST, we have to improve the internal parts of INDIA then only we shall be going far better than China, Japan etc in term of development.

Yes, According to me, digital payments are good steps in India, its increase our economic growth (GDP) but an issue is that in India 50% people have not a knowledge about the online transaction and it is caused by cyber crime. So firstly the government should aware to the public for digital payments and then launch such type of apps.

Hello, everyone.

Here we are discussing the security of the digital payments, whether it is good enough for our economy, In my opinion, the digital payment system is essential for a developing country like India. Related to its security I am using digital payment systems, till now I don't have any bad experience. But there are cases which arise in many parts of the country regarding the security fault. It is very shameful to a developing country like India. Just because of these reasons or incidents we cannot say digital payment is not apt for our country.

The world is growing day by day and we have to go with that fast growing world. I admit that in India there are illiterate people, those who don't have a bank account, but we the literates have to take care of them and try to make our country a fully developed one. For that digital payments will play a vital role. Cashless economy not only helps in over come corruption but will make our country to a developed one and place us one amongst the power full countries.

In My point of view, India is going to cashless is very good things. It means a very good decision is taking by our government It is beneficial for us. It also save the paper nd time. But some times have disadvantages for cashless payment that all people are not well educated. So that time some problems will occures. They don't know how to use card. But it is easy to learn. So that we help to teach how online payment is handle.

I think the answer is 'NO', because the recent report submitted to parliamentary committee tell clearly that our current digital network is not able to withstand the upcoming cyber attack. We have to implement. The change in digital infrastructure from banking and gov sector and then implement to the public life.

Digital marketing leads to:

Faster Transaction.
Payments of products could be done at any place.
In the time when we don't have change, we could easily pay digitally.
Even there will be no stress in mind of money to be lost as we have only one card.
Looking at security in India for digital payments, I think it's still way behind, it's insecure to type password (ATM password) in front of unknowns.
For a solution, they could use the fingerprint scanner instead of ATM pin.

Hi guys,

The Country like India, It is very useful. For example: If anyone wants to buy the things, they can buy from the online shopping and they can make payments from online banking, debit card, etc. Along with these, they should know about the hackers. For example: If anyone hacker called to an illiterate person, the hacker said that your ATM has blocked would you tell me your card number? so that I can unblock your card. Obliviously, the person can provide the card number. Not only this ATM matter. The hackers can send the messages to the personal email.

In India, most of the people are using digital payments. Some people may not use it. For example: Village people they are low-class family and them don't how to borrow money from the ATM. For borrowing and spending the money they will expense more time.

Finally, the government should provide advt. About digital payments and it should appoint some people for visit to village places to make awareness about digital payment so that our country will become digital India.

I think it is a very good step for a developing country like India to become cashless and make payments by digital systems but there is a word comes in mind that is security of money in India half of the people when making transactions by digital payments thinks that is their money will be safe if their transaction is not made successful than what they will do and half of the people don't know even the terms and conditions about their bank people are asked to give their OTP bank debit card num and etc and after knowing this fact that the bank will never ask for this information they give details to other people and then they are robbed. It is a secure step if people will get a knowledge about all these things.

Yes, in my point of view, digital payments are secure enough for Indian economy if the government is maintaining cyber security solutions in today's world economic changes like demonetization it helped people a lot to transact their goods and services through digital payments If the digital payments are introduced in Indian economy, should ensure that people should aware of it.