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

The digital payments nowadays are no more secure.

Let's take the recent incident that happened with the TRAI Chief RS Sharma by just trying to prove that nothing can be done with the aadhar number and posted his aadhar number.

Online and challenged hackers to crack this. Very soon Rs 1 was deposited into TRAI chief account by some hacker.

So we can conclude how secure the digital payments nowadays are.

The digital payment is needed but not to a cashless India.

In this advantage, the work for engineers can be recruited more.

In the case of disadvantage:

Nowadays the Indian government is going worse and there will be no guarantee for the safe of cash.

Beyond to the safety, more Hackers are improving they can easily watch your current activities.

The problem is there is no safety for cash and in case of emergency, we cannot assure the ATM debit card credit card will work.

In my thought Having cash in our hand will be useful in the emergency case.

Doing digital payment there will be an extra charge for the payment is applicable in some banks and after some years the tax will be increased in order there is the large recruitment of IT sector peoples for the process to claim their salary.

Digital Payments are pretty secure nowadays. But, that also depends on whether the person has followed all the guidelines provided by the banks to ensure that the security of his or her account is maintained.

By linking mobile numbers to email ids and also two-factor authentication (for eg. Fingerprint scanners) provided by the companies, are there so that even though there is a leak of information, without biometrics the information is invalid.

Digital payments secure but if and only if when there will be a software good enough for the hackers who don't able to hack inside the security of banks and other things like because whenever you put all the character in a digital format then if someone hacked then it becomes totally 00 and you will have nothing in your hand and the opposite side digital payments are good because you don't have to carry so much money with us and not worry about that it is going to be lost and having some trouble like this.

As digital money transfer is very secure system only for educated people because there are directly money transfer to the receiver account and no esue about money thef or fall from pockets. Also no worry about carrying of money in pockets. But other hand lessawear people about digital system are unsecured for the digital transfer. At any instant place or any time we can transfer money to anyone account or also for shopping etc. But sometimes because of incorrect information there will be chance to transfer cash on unknown acount.

Online transactions are always prone to cybercrime. Also, the digital payments are not universally accepted everywhere. The digital payments have a transaction fee associated with every transaction that you make, if you take paytm as an example, it will charge you some transaction fee plus you need to have the connectivity and infrastructure and technology to use and transaction with digital payment methods. India can become a "Less cash" economy but it cannot be a cashless economy.

The cash to GDP ratio of India is smaller than that of the developed nations such as Japan.

We now rely less on cash but the advantages of transacting with cash are still not inculcated in the digital payments platform.

That was my opinion, thank you.

At current scenario, the Cashless transaction is partial good as numerous region behind this. India is the very large country consists of numerous types of people, landscape. For any form of cashless transaction, there is a requirement of the internet, smartphone or other atm devices. The Internet has been not spread at all located in the current date. The population of India consists of 70 per cent of poor who are under the poverty line, so most of them can't afford a smartphone. If you take a keen look towards our society, most of the old aged group people don't use a smartphone. As a result, they can't pay in cashless mode.

Yes, in last few years cashless payment mode is promoted at vastly and its effect you can see easily anywhere. The youth of our country use to pay in cashless form. It can be more popular by giving proper training and information to the citizens.

In the future, it will replace cash surely.

In my opinion, digital payments are more secure than cashless system if used wisely.

But, to make digital payments secure it's very important to be aware about crimes related to it and to get educated about these.

There security depends on the digital awareness of a person.

And, for this govt has taken several initiatives like awareness programs, and easy to use payment methods like tezz, paypal etc.

In my opinion, digital payments are the safest way of the transaction as all our transactions are encrypted and are secured with an OTP which makes us threat-proof. The only requirement is that the consumer should be aware enough to not leak his personal details of his account to any 3rd party via phone call or mail. Otherwise digital transactions are the best.

It has been a privilege for us to know more about digital payments yet people of our previous generations are sceptical to use it. They do know about all kinds of proceedings to make digital payments yet they prefer to go for cash payments. They fear the glitches of the system which can be very minute and can be rectified. Again with the campaigns going across India to make people understand the importance of digitalisation they are trying hard but the fact that illiteracy and poverty exist it becomes a great barrier for people to grasp all the new advancements.

In my opinion, they are secure and should be an integral part of the Indian economy yet going totally cashless it is going to take a long time. People should use more of Paytm TEZ BHIM etc apps to get to know more about these.