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

Going cashless has many advantages like a decrease in corruption, saving time, increase in GDP etc, and also disadvantages like increasing cyber crimes, etc.

For example, what if the hacker has more knowledge than the one in the government security has?

Then all digital world goes "BOOM BOOM".

According to me, not complete digital but the use of money both cash and cashless steadily.

Day by day with the increase of population queues in the banks to make transactions are also increasing. To avoid this, transactions through digital mode is a better alternative which saves time as well as it is convenient.

But security threat is one of the major problem attached with the digital payments. Recently, wannacry and security breach of cards, make people think whether the digital mode is secure or not. We need to improve our cyber security, make certain cyber laws for the safeguarding of data.

Yes, I think digital payment is secure enough for the India to go cashless. If all the transaction made by the peoples is through the digital mode then they do not have to carry money to buy anything. If the wallet or purse of a person is lost then the person has to just lock his/her card and their would be no loss of money. Large amount of paper could be save and so the trees as manufacturing of paper is obtained from the cutting down the trees. India has the most intelligent coders and hackers to save our cyber system from some infectious viruses. Last month some of the countries were infected by some dangerous virus and their system collapsed but India was not among them. Our cyber security of bank and other departments which have a direct relation to money is very strong, so people don't have to worry about their bank transaction id to be hacked.

Yes, digital payment is much enough secure for the Indian economy to go cashless but not 100% secure. Though we have crime expert, it is not totally secure. The advantage of making digital payment is to reduce corruption and save time also. From now, the government can know about every transaction which alerts the corrupted people. If corruption is reduced then Indian economy will increase and poor people also get benefits.

Yes, Because nowadays there are a lot of fake currency present everywhere in and around India. Digital payments will be one of India's best development feature. There will be no bribe, no fake currency, less robbery etc. Digital payments have already taken place in a lot of cities if we want to bring digital payments right from Jammu & Kashmir till Kanyakumari, then we have to advertise it in daily newspapers, social media, televisions, roadside banners etc. We also have to advertise it in all the rural areas and bring out the benefits of it and provide government banks and ATM's in all the small and local villages. It may take some time and effort but trust me this process will take INDIA to the next level.

I think going cashless is a good idea because digital payments are more handy and effortless. But we should not ignore the fact that digital payments are not that safe and are subjected to some sort of risks. Therefore, necessary action should be taken to make online payment portals more secure so that we can go completely cashless. There are pros which are considerable like less time consumption, flexibility. Etc but still it will be a problem for people in rural areas. So to spread this concept, the government should help people so that in near future, people will prefer to go cashless when they find it easy and flexible!

In my opinion, digital payments for the Indian economy to go cashless is a good option. But it needs to cross the hurdles of weak security against cybercrime, lack of internet knowledge and accessibility of software by poor.

Recently in Mumbai, there was a case of withdrawal of money from atm machine using the software. So there is an urgent need of improving the security before India goes cashless payment.

Digital payments are good as nowadays everything getting digital and to make India stand globally we have to adopt technological methods. Earlier people come to the bank and now bank went to the people. But there are 2 hurdles in making India cashless.

1) The Cybersecurity like recent ransomware attack has made people think is India ready for cyber attacks? And last year approx 36 lakg debut card were breached and also some unauthorised transactions being reported. All these incindents made people to thinkh avout digital payemnts.

2) The lack of education and awareness-various banks offer significant discounts on digital payments but hardly 10 out of 100 get to know about them or if they know they don't want to use their cards because of fear or some other reasons.

So before making everything digital or moving towards cashless economy, GOI should increase awareness and people should be taught about digital payments either by hiring business correspodants aur by orgainisng the seminar.

Yes, digital payments are secure enough for the Indian economy to go cashless but it is not 100% secure. There are some security threats like cybercrime, different attacking viruses like wanna cry Ransome, so somehow drawbacks are there in the digital payment system and in going cashless. But we don't need to worry because Government is doing its duty by establishing cyber crime control centre with the help of Microsoft in New Delhi, these cons. By time will be removed. So till that we have to do digital payments with some securities, we have to aware about spam emails, viruses, fake websites etc. For India, there is a great need to become cashless because of corruption, theft, fake currency etc. To make a New India. SO we all should support our honourable PM's initiative of " DIGITAL INDIA -CASHLESS INDIA".

In my opinion, India as an emerging economy surely needs digital payments to go cashless. For this, the government has taken many initiatives to make Indian economy go cashless. Surely, it will take time for the people to change their mode of the transaction to cashless. As the government is well aware of the fact of its security and is taking concerned effort to make Indian economy go cashless. A cashless economy is beneficial to both country and individual.