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

Hello, everyone.

In my point of view, digital payments are not secure enough for the Indian economy to go cashless because there are more security threats in digital things again compared to normal and our population of India more than 50% have no any idea about digital money even more than 30%. Have no bank account they don't know about internet then how can we talk about digital payments.

Even if the money is deducted from a normal person who is not well educated from his bank account he had no guts to ask the question why his money is deducted.

We cannot implement digital payment this way without all the people.

Yes, I think the cashless scheme is quite good up to some extent as the crime rate and all robbery is reduced, but there is another point is that you cannot completely rely on it. Anyhow when you are using the online payment method you have to be careful while making any kind of transaction.

You should make the make through a trusted website and in a securely established connection so that risk of any kind of fraud can be diminished. But the Major problem is the many people in this country are unable to make any kind of transaction or they feel insecure while making any online payment. The reason is simple they are not used too for the technology and computers so such kind of people are definitely going to face the problem if the cashless system is present throughout the nation, so there must be other option for the payment for the people who are not able to pay through digital payment or feel insecure during the payment. As money is worthy for each and every one of us so government should think about other substitute option for the digital payments.

Digital transaction is a welcomed move but at the same time we have to agree that the execution of demonitization doesn't take place as expected. Because notes of 500, 1000 have almost came back to government. This is due to people doesn't cooperate with demonetiztion and almost every note has been changed to new 500, 2000. Hope Govt should take initiative steps for demonetization rather than favoring companies like Paytm.

It's a very good decision taken by Shri Modi sir. I am a student and I am very in touch with digital tech payment so I think its a very good opinion nd decision for anyone to do digital transaction it is safe secure and fast only if you don't tell anyone about your account info this whole thing is in your hand and I think no government Interface no bank interference for your transaction you don't have to stand in big long lines to do your fund transfer nd etc. Words are less for the decision but ha bhut faadu decison ye dil se bolna pdega salute you sir. You are going to make your whole independent and a wealthy country.

Though Demonitization Is quite a good move by PM Modi, going cashless has its own flaws. Safety is one issue which keeps everyone from going into cashless transactions. Corruption can come to a halt if cashless transactions are promoted but not everyone will go into that because of risk of safety. Hacking into accounts and losing money is obviously a threat in cashless India.

Moreover, there are people who still don't have access to all such facilities so going cashless has its own Pro's and con's.

Hello everyone, personally satisfied with every point put up here. To be honest this is a very good initiative by government of India altogether. But taking this initiative to the common people is required to make up its mark. I would say people who are educated and people who know how this actually work would get benefitted. I have been to a slum to promote this idea. I would say people are very much interested when they were educated about this initiative BT they weren't confident enough to put this into practice. They were happy with the conventional methods of practices. Why do people who live up in these places are not ready to take up this idea? It's because they have lost hope. People hardly have little things to survive on. For government, they don't seem to be in existence. People who promised them has backfired. And many such issues my argument is without making up their status. Without being ensured of survival they feel hard to adapt new methods rather following the conventional ones.

According to me, it's a very good decision by PM Modi to make India cashless but we know that 75% of our population are farmers and they don't even know how to use smartphone and an internet so it would be a great difficulty for rural area people to deal with a cashless transaction. This is a country where people are advice to use a toilet instead of going outside and we are trying to directly implement cashless, It's at least not possible now.

Hello guys,

As per as my view towards this digital payment is that our government did a great job but if government won't think over surcharges which are implemented by bank and other organization related online payment so graph of using online payment will go down for sure. If government really want 100% result from digital payment so government should take strict decision in it and remove all hidden charges.

I know it is very hard decision to remove all surcharges so what! government took lots of charges already in many areas like property tax, income tax, many other taxes & high interest in loan so on. So it won't be burden on them if they do so.

Jai hind.

According to my point of view, it is always good to do cashless transaction as it took much less time. But India is a developing country and still there is not enough parameters through which we merely depend on cashless transaction. We also fear that what if our money lost or something like that. Yes IT Sector is growing up at a very fast rate and our country is developing many such brains who can build up a much-secured system so that more and more people start doing cashless transaction. But said every coin has two sides so there will be some dots who can make us think twice before going to cashless. Hope India will do as much as cashless transaction and make India a developed country.

Talking about going cashless by making digital payment is enough for making India economy digital, I really don't think so. As we all aware of the fact that India is around 70% based on agriculture sector, only the 30% of the people of India is in non-agricultural. And lots of the people are uneducated, talking about that 30 to 60% of Indian, it is very good for them that India is going in the way of cashless but what about the rests? India is still a developing country.

- For making the digital payment the people should know at least the basic of digital education like to work with mobile, to work with an ATM, and other things. But if the people have no education system in the rural areas then how we can expect that Indian economy can go cashless? first of all, we need to aware them with digital education and then any other digital prospects.