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

From my point of view, it is high time for our country to go cashless and promote digital payment. Anything is not 100% secure but today we have 20-25% people using digital payment in cities. We may rectify problem any try to solve it so that when majority goes with the cashless we have to not face enough problem. And the last thing is that everything has a start and I think it should start now so that major problem (corruption) should vanish.

In my opinion, yes they are secure. SSL (Secure Socket Layer) is used for encryption. Also it is much better to do online transactions than carrying cash everywhere. We think much about the security of online transactions but is carrying lot of cash a secure way? Definitely not. In fact, cash will get easily stolen.

Besides this, many people get fraud calls asking for card no, pin and CVV. So, Everyone should be aware of these type of frauds.

Yes, But some drawbacks and it is very important to consider such as In our country only 74% people are literate (According to Google) then how could they payment whose illiterate and the most important thing i.e. it is literacy % not whose fluent with Internet. And second thing is Internet speed In rural areas not good Internet connection so how to use in rural areas and you all of know very well In India how much areas is urban.

So, I think first start a free campaign for how to use the Internet and build towers in rural areas and also try to aware people what is the advantage of Digital payment.

Yes, Cashless India is an initiative step for the growth of Indian economy. The transaction can be made without any disruption. There is no need to carry money. So, it will become easier but it has involves disadvantages also like our Indian cyber security is not fully developed. Many cases have arrived of unethical hacking, data breaching. So, it will be difficult to safe accounts details. Beyond this, the illiteracy rate is also an important factor which needs considerable attention. Most of the people are not aware of the online transaction. In villages, there are not such a facilities by which they can do online transaction. Therefore Government should rethink on all the factors before implementation.

It may be or may not be. First of all, we all people of India are not aware of cashless transactions. People don't feels secure in cashless transactions. They think they may be cheated during this. So there must be guaranteed app approved by state government who provides cashless transactions. Also, the government should put efforts towards awareness towards this like by creation champaign!

Yes, definitely digital payments secure for Indian economy to go cashless but not enough. Seeing various problem occurring due to paper economy our government focuses more toward cashless economy. There is terrorism activity occurring in our country which has also direct relation with fake currency. Which is biggest danger. Our some politician and some officers have black money. This is also problem for developement of our country. Money laundering and stealing of money and many more problem maybe avoided by cashless economy. But to go for digital payment to solve above problems people of our country must have be educated and illiteracy rate of our country is low and our government is doing good for education system but administration is not well. People who go for digital payment whether they use INB online shopping or payment through any wallet, people should have literate so we must have to work for our education system for cashless economy.

One more point even being educate people afraid to do online transaction that whether their money may deducted more account may hack by some one so to resolve above pbm government should make awre by advertisement and awareness camp.

One more problem to do digital payment is availability of internet and smartphone. Many people of our country even being educated are still unemployed. They don't have money to internet recharge and purchase smartphone so to make whether digital India plan or cashless economy we have to provide more job to the people.

I think digitization in India will create economic and social divide among poors and riches. Here everybody is being pressurized for going cashless. Nobody cares about people wokers, farmers and below poverty line families who are facing immense pressure of cashlessness.

Hello everyone one,

I'm against this thing as India is a developing economy we don't have enough or say trusted sources which we can rely upon.

Moreover, we don't have enough Internet access to certain places in India. People still are living in an era of 2G, not even 3G, so we can't even think of 4G, which would naturally be beyond their reach.

So no digital payment methods, more use of cash which would lead to an increase in Black Money like situation.

So lesser the use of digital payment methods, lesser will be the technology which can secure our transactions.

More the use of it, newer will be the techniques to defend the frauds.

Thank you,

Hi,

According to me, digital payments are not secure enough for Indian economy to go cashless. This is because, as we are a developing country, many people is not aware of the net banking facilities that are available. Though initiating ATM transaction is only possible when people will be enlightened on this matter. I am not talking about the village people rather in our city the aged persons are also not aware of this fact. As per me, it is a technology barrier that has to be overcome in the mere future. And also would like to state that the idea of going cashless at this point was a big risk that has been taken by our government Though it is my believe that this situation will become stable as each individual will have the proper knowledge and guidance in this field.

In my point of view, digital payments are very secure. It now ends to end encrypted. So there is no chance to lose money. If one can use trusted website. There is also no risk of carrying money. So it is secure enough for the Indian economy.