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

There was a time when no one know how to operate a mobile but with the time ever one whether it is grandmaa who is 80 years old or a baby who is one year old know how to operate mobile. I believe with the time (As it is a new concept) it is easy mode of payment everyone will learn n start using it. Need is to help, educate, motivate n guide people not only by the gov.

As per my opinion, digitalization in India is very important as it will reduce the risk of robbery, corruption and fake currency. As a result, it will improve our economy.

But the drawback is its unawareness among people. Most of the people in rural areas don't know about digital payment due to illiteracy.

So, it is necessary to increase the literacy rate first and spread awareness about the cashless transaction.

In my point of view, it is a great step to make India as digitalization. First of all, I would like to thank you our honourable PM Narendra Modi sir for taking this decision because India is not a small country if the decision is wrong it will affect the total economy of the country.

The main problem in digitalization in India is illiterancy. Rural peopel don't know how to make cashless transactions and so many peopels don't have still bank accounts so before making cashless transaction need to increse the litercy percentage and tell the uses of this transactions to rural peoples then only digitalization is working.

The main advantages are decrese the courruption percentages, time saving is main advantages.

Hello, everyone.

One of the most important advantages of digital payments is that it will reduce and eventually end the circulation of fake currency, thus improving our economy and increasing the GDP.

Secondly, it will reduce tax thefts.

Talking about security, and even cash transaction is not secure enough as it involves circulation of fake currency, tax thefts, corruption and many other drawbacks.

Finally, I think digital payments should be initiated and should be implemented gradually along with educating people about its merits and how to use it.

In the long run, it will be a revolutionary step.

Hi Friends, according to me, digitalisation is more secure as it reduces the chance of robbery and also it provides.

Secure transaction and also makes it impossible for the hackers to know the transaction details. But it has many disadvantages also like some rural people do not know about the digital payments and usually prefer to go cash system.

What has happened in the past, taking it as a consideration, Yes we are secure enough as compared to other countries digital payment system. We are rapidly evolving in this sector using new methods and technologies to be at a safer side when things are not in order. To make Indian economy cashless, first we have to bring awareness among different sections of the society about digital technology, that can be done in different phases but we have to be patience as it can take much time as we have not achieved total literacy yet.

We need both hands to clap, just like that these two things are totally dependent to each other.

Yes, this is necessary that aware the people about cashless payment because still most of the people doesn't know that how to done cashless payment, they know the only old method, if in the future whole arrangement being cashless then people face difficulties so people should be aware of cashless payment.

As per my opinion, the digital payment system in India is secure. But it not enough secure for the Indian economy to go cashless. Now, a lot of people are not trusted in doing digital payment. It interested in cash for payment. Because of it's easy way.

Hello friends, well according to me, it's a very good idea to make payments digitally because by this way we can save time and efforts also this payment method gives the relief to bring money everytime and everywhere. But also, nowadays it is not the secured enough for the Indian economy as every person is relied on to paying money digitally and due to this many of the cyber crimes and cyber attacks are taking place. Recently, a cyber attack happened called 'ransomware attack' happened over a huge population of 99 countries including US and also they hacked a very popular organisation as we all know 'zomato'.

So friends, according to me now it's not secure enough to make payments digitally.

Hi friends.

We all would agree that cashless economy is need of the hour, and the current government has taken many steps to promote the online banking, mobile banking etc to go cashless.

Banks are making a lot of progress in providing securities to the online banking system. There is already 3 layer security for online banking i.e. your id and password, adding beneficiary via profile password then OTP. In my opinion, more attention is required from the consumer side. People are not aware of how to keep the account secure. There are a lot of fake websites looking exactly like originals and would store your user id and password. People who don't understand might fall into hands of dishonest people and give them passwords.

Apart from this, most of the people don't have antivirus on their mobiles and computers.

So friends, in my opinion, there is need to improve cyber security as we have seen in the case of the ransome ware virus created a lot of highlights. But more attention needs to be given to consumer sides.

Another point I would like to add is banking is very very crucial to the economy. Even if consumers go for online or not the need of secure communication is very very high.