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

In my opinion, in the present situation, our country can't switch completely to digital payments. Digital payments have many more advantages than direct payments. They are fast and simple and it helps to reduce corruption level, but in our country, most people are poor and most don't have access to the internet and all the users of the internet are not aware of digital transactions. Most of the people in rural areas don't have enough knowledge about digital transactions. At the same time, all users of digital transactions don't know about the risks in it. Many are unaware of the importance of keeping passwords secure and about hackings. So, there is a risk of being cheated. So, I believe that we can't immediately switch to digital transactions, but with time we can do it.

As everyone knows, the secondary motive of the demonetization is to establish cashless payments and make India a Digital India. Due to the illiteracy of rural people, the frauds, and hacking take place by sharing confidential information with others. This can be reduced by bringing cryptocurrencies like bitcoin, one coin etc. In to existence in India which cannot be hacked. Educating the people about the advantages of cryptocurrencies is strictly necessary for the development of the economy of India.

Hi all,

As per my point of view, this topic is very important for our country. Its positive step to improve our digitization. Most of beneficial thinks are include in this topic. One of the best benefit is, it is help to stop the corruption and black money. It is help to save the time.

Digital payment is very secure and helpful to use. We can use this easily and safely but some people need training. For that government should take step to guide the people. How to use the digital payment via mobile and computer.

According to me, digital payment secure enough for the Indian economy to go cashless.

Well, it's good that our country is growing in every way. But digital payments are not enough secure for the Indian economy to go cashless. Firstly, there can be a problem of hacking. But this problem comes later as there is a bigger problem. For Indian economy to go cashless everyone in India should know how to make digital payments. For metropolitan cities, it's ok but for the rural villages. The government should carry out a training program for them to make everyone know it. The government should make sure that by using this method everyone should be in the comfortable zone. No one should have a problem using it. Everyone should use its benefits after implementing it.

Hello, Everyone. I am Pratik.

Yes, digital payments are secure to go cashless. There are lot of initiatives are taken from IT sectors to secure the digital payments. They are faster, saves time and reliable to use.

Only a drawback with this digital payment is that this system is becomes difficult for older citizens and they need to learn it.

Hey everyone, Good morning.

I am Shatrunjay Prabhat.

Well, going cashless will be the best thing at this time. It will save people from goons who snatch their money. It's fast and reliable. Bhim app is one of the great initiatives of our government. We are using it and I don't any of us had gone through any fraud payment through Bhim app till now. So it's secure. Security is never enough so we should always update it time to time. Also, it will eliminate the black money from Indian economy.

But, is it really feasible? I don't think so. Mostly in villages people don't know about this. They are not aware of the technology. Even in metros, street Vegetables and food vendors prefer cash payment. But no doubt we are growing very fast. One day it will be feasible to go cashless but for now going cashless is not going to get us success. Our economy will fall.

In my opinion, cashless online transaction not applicable for the India. Because more than 30% of people living in India are uneducated. Then the peoples are easily get cheated from others like online theft.

Hello guys.

According to me, digital payment is the new era for our Indian economy.

Digital payment is secured, easy and fast.

The one with the digital payment have their transaction id with them which can help them for future problems.

For making this digital payment successful in India, government have to make full effort towards our villages. Through the right effort, people will get educated they get the sufficient knowledge they will explore by interacting with the internet etc.

So this is the step which is very good for the development of rural areas of our country.

This digital payment is time saving too.

Busy employees, hard working villagers will not have to stand in long que and make themselves more tired, this will make their life easy too in many aspects.

According to my opinion cashless payment are secure and faster enough to save our time. It helps the govt to keep track of the payment easily and also helps to remove the corruption or black money. We don't have to pay anything extra to anyone for e.g. there are mostly things sell on a price of Rs 99, Ra 999 etc so in this case we pay 1000 and we did not asked him for 1 back. But by going digital we can pay exact. If 1 lakh person donate 1 per day then it will cost 1 lakh for the company and it will be a huge amount. We can partially say that in some areas it is not implemented as most of rural peoples are not so much educated. In India still electricity, school are big issue so how could we think about internet at that place.

I don't agree that digital payments are secure enough in India as many people doesn't know how to use cashless system ATM cards or Netbanking. They fall prey to hackers easily because they give away their private numbers etc to the hackers unknowingly that these numbers should not be given to them. Last months I have got a call from a stranger saying that "your ATM cards has been blocked and to renew it you should give the ATM number and CVV number". This is how some people manipulate others to give their private details. Those who don't know about it will fall for it and will give their private details. So people should be educated well while telling them to go cashless.

Moreover in India we don't invest in security system as other country does. Such as Panama paper has been hacked and got leaked despite having high security. So I don't think Indian cashless system is secure.