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

Hello friends, according to me, digitisation is a great step taken by the government of India with a long futuristic vision. As every coin has two sides, even this idea of making India go cashless has advantages like fast convenient, transparent transactions, tax collection etc but brings along few major concerns like not so well established cyber security systems and illiteracy among our citizens.

Digitisation would definitely be a commendable move only when its concerns are understood and solved at the grass root level. Infact school and higher education curriculums should include knowledge about cashless transactions and usage of various applications for the same. At the same time government should focus on providing best in class cyber security to its citizens.

Overall I conclude it as a revolutionary move for the betterment of our economy in a long run with few conquerable challenges.

Digital payments are secure. But that is not enough. We need to strengthen the payment system as it is still vulnerable to cyber frauds. The Vast majority of Indians are still not digitally literate enough to deal with payment system failures. Banking ombudsman scheme need be strengthened. ALSO CERT IN FIN mechanism also need be strengthened.

Of course, there have been some rapid changes in terms of the digital transaction after the demonetization. The govt has been only focusing on implementation but the after effects of the transaction can be crucial. First, there is string need to creat the software that is safe for people who are providing their people information. And realising the fact that half of the Indians are not at all friendly with this transaction.

Hi everyone,

Firstly, I would like to say thanks to our Honourable PM Narendra Modi sir, to Started and taken action to make Digital and cashless out our India, from my point of view, it will be really, Helpful to our economy in future, it is difficult to understand, it in starting. People should know about this action because, It will Upgrade our economic system, our country market will also be like a foreign country.

People should know profitable things about it.

1] No cyber crime.
2] No need to go bank, you can handle your account, At your home,
3] All transactions will be transparent.
4] No need to maintain Cash In Your wallet.
5] Can Purchase daily need of utilities by, Card swiping.
6] No fear of robbery.
7] one of the most important point is -"Automatic tax payable system".

This Action Taken by our government is tremendous, ' But in present people should know and learn about it, How it will be helpful for them! What ever We start anything In our life, we have To face many conflicts, but in last, we will Get better results.

Thank you.

Hi friends, In my opinion, sudden complete implementation of any new Technology is difficult thus digitisation should be implemented in phases. It has certain merit like Being Robber safe and every transaction being open to Government thus tax robbery also prevented but it also brings few demerits like a threat of Cyber Crime stating that INDIA being among Top 5 Cyber Crime affected countries.

Thus steadily digital payments should be promoted in Indian Economy.

Before going cashless we need to educate our population about what is cashless economy and how yo make best use of digitisation because on ground level things are this easy as Modiji opened bank accounts providing managers payment directly on account of people, in reality, most of the people in villages are not even aware that they have bank accounts they accounts are being operated by the sarpanch s of villages providing them less amount.

Yes, digital payments are secure enough as it will reduce the robbery cases and every time we don't need to carry cash along with us it will reduce the corruption as well printing cost of currency notes will also be saved and in long term good for enviormnet as well it will increase transparency as well bringing more revenue to the government.

In my opinion, digital payment is the best way for the Indian economy to go cashless. In fact people should be well aware of the advantages of digital payment like with just one click we can easily make the payment anywhere by just sitting at home and secondly in our Indian economy there are bunch of people who just try to refuse taxes which is the main reason why our economy is declining day by day. People should be well aware before doing an online transaction that their PC or mobile have proper virus protector so that they might not undergo frauds.

The Online transaction also reduces the chances of human theft.

Hello, everyone.

According to me, digital payments is a better option as there is a fair transaction for the people who are actually loyal. It will eventually lead to greater revenue collection from taxes and high GDP.

A big issue will be making the rural people known to the technology but it can be done at a fast pace as everyone is once a beginner. There may be problems like cyber crimes but it can be overcome by tightening cyber security and taking proper measures.

In a vast country like India with diverse thoughts among people there will be hurdles in beginning but in long term, it will lead to a transparent and strong economy with technically literate people.

Hi, friends according to my opinion digital payments are secure only then when we totally aware of it. We can not do any transaction cashless unless we do not know how to use it. So, first of all, we should learn the basic process and also teach everyone about digital payments. In early days we would face suffering because of less awareness but with the time it will be a daily shopping routine.

For the secure digital transaction, we should follow some way like.

1) Get a debit or credit card from the bank and learn their instruction how to use.
2) Don't share any information according to your card.
3) Check your bank balance after the transaction.

Thus, I can say that digital transactions are safe only when we know how to use it otherwise, It will be a wild goose chase.

Thank you.