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

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.

1. Yeah, in my opinion, digital payments are secure as they are protected with the 128bit encryption key. Due to which it is difficult to hack the password.
2. Digitalization helps to save papers and the trees from which papers are made.
3. Digitalization helps our country to enter into a mordern era of digitalization.

In India, where major sections are still unbanked and digital literacy has just started taking roots, digital payments cannot be fully secure. Already many cases has arisen of fraudulence, and the cases of cyber attacks, so people first of all needs to be digitally literate and to be made aware to not to share any of their information with any one as they can be fooled.

I think digitisation will be more unbeneficial for us than to be beneficial because the uneducated population of India is more than an educated population.

I think Indian government should care towards the education along with the digitisation.

Yes, because.

1. Carrying plastic money is better than carrying real money in the time of transactions, pos etc.
2. Digilization gives no chance to black money.
But there is a chance of hacking in digitalization. To eliminate this, govt should aware all literacy and illiteracy people about using of cards, securing their information from unauthorised users. By developing these in our people digitalization plays a very vital role in our economy development with enough security.

Yes digital payments are secure. The threats to digital transaction is because of lack of knowledge in people using digital payment methods. Because in most of the cases we see that the user give the card details and OTP to non authorised person assuming that they are from bank. Most of the online digital transactions are secured by 128 bit encryption key which makes the hacking of card details very difficult. So, the digital payments are secure. The users need to be aware.

I think it's good for our country and for us also because if we use digital payment it will help to control corruption and also black money. We are living in 21century we will accept the digital payment because it's safer for us if we will protect our password. I think it's good for our country economy also. That's it I support digital India.

In my opinion, digital payments can give a mixed result.
Comparing to other countries people's, Indian people's have less percentage in literacy.
So, educated people's has more benefits in digital payments.
But the uneducated people don't understand that these type of transactions.
So these type of transactions will not help full for all type of people's in our country.

Hello Friends, As per my knowledge, the answer from me about this discussion is a mixed type. Because if we think in both the way, yes it is beneficial and also some amount of unsecure to Indian economy.

While thinking about customer side, it is beneficial because we can reduce less handling of cash in our pocket is the major benefit. There should be less cases of money thefts. We can minimize the corruption. All the money transactions will be A1.

While if think by other side, i.e. disadvantages are India is growing country but still so many illiterate people don't know how to use computer or they are not come in the contact of Internet. Also cyber crime/ hackers is problem.

However if we keep the disadvantages in side digital payment is beneficial to India.

Yeah, Absolutely. It is hard to carry out but it's good enough. It's a time-saving method, no one can cheat. We can able to transfer as well as get our cash at any time anywhere etc.