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

Cashless payments are good to some extent because while going cashless or via paytm you need to pay sone extra amount of money instead of your original payment.

Going cashless is a good start for making people independent so that they don't have to depend on others for payments or to manage their money but what we need is awareness. As we know that our country's most of the population is illiterate so before starting digital payment what government needs is to make people aware by conducting some awareness programs nd teaching rural people importance of their passwords nd with whom should they share their private information nd problems so that government can protect them from any kind of theft.

Well digital payments are secure enough for the Indian economy to go cashless as we hAVe seen this during demonitisation but we should be carefull during this.

Of course yes, Because while paying the money for each product we get are need to pay taxes. So I say the digital payments will be good.

I think our cyber security is not so prominent to go cashless but we need to take the step forward in the future for the same so why not today. If we go cashless now people will gradually learn to be independent and will not be dependent on the third person to make their payments etc. And the step has been taken so now the security will also be made good gradually. So it is a good move and I appreciate Indian government for the same.

At present, I don't feel India is ready to go cashless completely.

The reasons for my this statement are.

Still, Indian cyber security system is not fully effective to prevent any kind of hacking or tampering with the online transaction system.

A considerable part of our country is illiterate and so it will ruin their lives (as during note ban) as they are unaware and hence not completely armed for the cashless economy.

But at the same time, I feel that Indian govt should steadily and slowly work on making people aware of benefits of the cashless economy by bringing up various organisations and should become more strict in its policies, with time. As we will move forward several problems will unfold but that should not be a reason to stop instead solutions to such problems would have to be worked out and finally maybe after a decade people with becoming as much familiar with this system as they became with the mobile phones during the last one and a half decade.

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.

From my perspective, digital payments are good for the Indian economy, it saves our time like no one has that much time to go to the bank and stand in queues waiting for their number just for those transactions or payments that can be done by digital payments very easily and quickly in just a few minutes. It also decreases corruption, black money, fake currency because by using this digitisation the government has a full record about their civilians and about their economy.

But with the every pros there are some cons also, with India the major con is illiteracy and lack of awareness as still there are in India so much of people are not literate they are scared from these technologies. So we just need to aware them with new techniques and educate them and after that India will be the safest country for digital payments as it has brilliant programmers to save us from cyber hacking.

In this technical era, living without technology is not so easy.

If we talk about digital payment, it is not new for foreign but for India, it is. In market there are various type problem but change is big one and digital payment is solution, and it saves time absolutely without going bank we can transfer or receive money from others, it also helps for government to observe the tax payers and no one can cheat government means there will be no concept of black money every single rupees information government will possess easily.

I disagree with the complete digitalisation of the transaction, as we know India is the country of villages and the literacy rate in India is very poor. So we should also think about those people also apart from that there are many people they don't know how to do these transactions whether those are literate of old times or not have that much knowledge and these try to deal in hard cash. According to me, we should use partial digitalisation of transactions and run the programme for awareness and benefits of digitalization of money. As well as we should spend more money on education structure of country by which we grow together.

Thank you.

Every new thing have it's pro and cons so in my thinking digital payments is the safest mode to save our money and time but to avoid hacking and all we should implement another software or gadgets which can detect these sort of things.

It's not quite easy to learn anything but it's our duty (youth) to give knowledge to the illiterate people. Many illiterate people knew how to use mobile phones by seeing or by practising so to get aware of the digital payment government should implement some campaign or uploaded some video related to digital payments for the illiterate people.