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

Yes, I think so because India is a country of educated youth and for the development of any country they plays a big role. So if digital payment gets easily spread over the nation and boost up the economy.

Also, there is some risk of hackers too but it should be concerned too.

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.

Yes, the digital payments are secure enough to make Indian economy cashless. Why because of already many e-commerce sites using digital payments through online for example in Paytm largely makes digital payments. At the time of demonization e commerce sites played an important role.

Hi friends.

As we all know it's the biggest & initiatives step taken by our prime minister modi. It's the 1st step for make in India or digital India. As I also supports this payment process. But there are some problems for the people who don't know about how to transact or purchase by pos machine & how to operate the Atm also. In India so my people are don't know to operate the computer. Basically digital payments are occur in online. It's the hassle for people who don't know. So government should take initiative for this cash transaction process. If the government do this then the corruption become lower in our country.

Yes, it is a good thing for digitalization in our country. It saves time & there is no hard work to do. But remember question is how to secure the payment? How to know in urban areas people? Yes, it is big problem in the Urban area. But nothing to worry about that because our country fully not cashless as early as possible so it is a long process. I hope that one thing is that every school & colleges gives lessons about cashless payment. Students will learn things & accept. And last one thing is that every company worker should go cashless payment. The New generation takes the decision for going cashless. Everyone sure that our economy goes cashless.

Right now, we cannot say that digital payments are secure enough for the Indian economy to go cashless. Our system needs much more improvement. Recently we have ransom malware attack which affected the people all over the globe. This shows how secure our internet is. We need to make. The internet more secure before going for the cashless economy. So it takes some time to make the internet more secure.

Thank you.

Yes, Digital payment is very helpful for our country because corruption became reduce due to this but there is some point which is mentioning below.

1) Firstly, tell the people that how is Digital payment beneficial for us and how to do this, and also tell about that How to secure their transaction details.

2-Because nowadays cyber crime Growth very fastly, so hackers hack accounts easily, so Govt should provide more cyber security.

To add to the discussion I would like to say that at present among the top crises facing by India is the wormhole name Black money. So going digital is the best way to get the detail of each and every transaction which will take place. The question of security has to be taken into consideration by the higher authority holding the responsibilities of designing the platform because when compared to the literacy rate of India and that of people adoption to digital platform some issues can lead to step back a large group of people from adopting the system.

Along with every advancement comes it own setbacks. Setbacks can be such as making people understand the system, internet connectivity 24*7, security and the privacy, cyber crime etc that has to be minimised by awarening people and adopting latest technologies.

Friends, I have a mixed review in this subject. I think digital payment is a prominent step towards moving into a cashless economy.

In fact, it is an important step in becoming a developed nation from being a developing nation forever. It improves the financial status of our economy as most transactions come under the purview of law. It offers the 24x7 facility. But it's necessary that the financial inclusion is to be achieved before such a system is made compulsory. Also, proper cyber crime laws and technical supremacy should be ensured. Else the entire nation will face the threat of user privacy and It's a matter of national security.

As, I want to mention some points on this topic:

A cashless transaction is very good for our country because it can help to reduce the corruption. I agree with that our country may take some to using this properly because in our country not everyone knows how to use a digital cashless transaction to purchase something. First, we have to tell everyone how to use these feature and after that, it will be a very helpful to our country. It helps to improve the revenue of the country and no one can't keep the black money. So, it will be a good to go cashless.

I want to mention some disadvantage of this feature:

1. If server became down then it is a big problem to us because that time we are not able to do transactions.
2. Hackers can hack our secure information if they found any clue.