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

Hello everyone, yes it is secured but the thing about which we all need to aware is the cyber crime. The government is taking various step to make us aware about these cyber attacks. If once most of the Indian people made a habit of using digital payment this will help in the developement of our nation, because every transaction will be monitored and there is no chance of tax evasion. There will be more transparency in every business. Along with it we need focus on uneducated and rural people who are less involved digital mode of payment. The government Need to take some intiative to educate rural people regarding secured digital payment so that they may not be exploited while doing any digital transaction. Even we should also understand a responsibility to educate people regarding digital payment. We should tell them that always try to use digital payment as it saves our time and never share your password, otp and other details with anyone.

By taking these simple steps, we can put a step forward in making India cashless and above all, the Indian technology is strong enough to handle the digital payments securely.

Hello everyone,

As we all know that India is a developing country, and PM Modi's initiative to switch to cashless payment is recommendable. Indian Government has also introduced an application named BHIM for making online transaction process easy. Even if we notice Paytm is also playing a very good role in digitalization. Digital payments are not only secure, safe, easy to use. But will also help Government to trace the black money in the country. The main problem comes in when we focus on rural areas. As more than 60% India is rural, and not much among them are aware of the digital process so it'll be difficult for them to adapt this change. But if Bank provides better services and take some initiative to make them understand benefits and importance of online transaction, they'll try to adapt the change, they'll show interest in learning it and will definitely bring change.

No big change happens overnight. It takes some time and if being youngsters we support this initiative and put a step forward towards it. It'll prove as the biggest achievement of the India. Sikhega India tabhi to Badlega India!

Thank You.

According to me, digital payment is the easy and fast method to transfer money.

It has overcome the problem of standing in a queue for hours to pay the bill.

Secondly, it has also overcome the issue of time, as in traditional method we need to wait for hours.

If we take an example of online shopping, ticket booking, online recharge, etc. So sometimes, there are exciting offers available, sometimes cash back, etc. So here we get the opportunity to save some money and we are able to pay in budget for what we want.

If we discuss about the security of digital payment, so I think there are two ways so that we can say digital payment is unsafe.

1. We should not expose our personal and account detail to any unknown person.

2. Hacking. It is done in some cases, but still cyber community is working on it to make the better security for online activities.

And the most important thing is that, today thieves are also confused that how to do robbery as there is most people having not physical money with them. And most of the times thieves are illiterate. So we can say digital payment is the best and preferable method.

Yes, I agree Digital payment method is very fast and safe. Digital payment means all the corruptionist are suffer but they rural and uneducated people are highly suffered in many ways.

Because those peoples are didn't have android mob nd how to use that mob.

Our honorable PM Mahendra Modi G announced 500&1000rs banned.

Before that our government to create awareness for the digital payment method in our poor and rural areas people.

After only to Service easily even though the rural areas people.

Those people are very intelligent compared to the metropolitan citizens our rural areas people only to cultivate the agricultural.

"Agricultural is the backbone of our country". Said by Mahatma Gandhi G.

The daily earned worker salary 200per day means how possible that digital India method. In our SBI all people must maintained our back Min balance 5000rs in our daily earned worker salary 6000/month. 5000 Min bal should be maintained means how that worker run the life in just 1000rs.

It's impossible.

But I'm surely agree that the digital India is increasing our economic level but take some time.

Thank you.

Hello, everyone.

First of all, the topic must be understand that whether the cashless economy is contributing a lot in economy enhancement or not.

According to my view, there is an issue of 40% /60% i.e. the 40% of the people who actually part of digital economy contributing to its 100% where as those 60% people left contributing 0%. Those who are found it hectic in indulging themselves in long digital term process find it extra time to take than a direct mode of exchanges.

So those 60% people will get substracted from their economies digital contribution which was not in the case before.

The demand of the time us to increase the facilities, not the standerd. Facilities when grows up standred automatically grows.

Digitalization is giving a very good impact on India 's image on the world market but its like you are making them to see oy the outer shell. Whereas the strength comes from the inner toughness i.e those 60%.

So according to my view, these should be the level of digitalization.

Information.

Facilities.

Reduced cyber crimes (so that people can trust).

Reduced process.

Actual implementation.

No, the digital payments is not secure enough for the Indian economy because in India at least 70%. Or more population lives is rural areas and most of these rural areas can never even think about going cashless because what they believe is that green or nowadays purple and solid paper money. Most of them don't know how to use even mobile phones so how can they handle sudden change It won't happen until we develop those areas. I use the word 'we' for a reason because it's only we the people of India who are literate or educated or in commanding position who can make the change possible can develop those rural areas and then talk about these changes such as digital India.

For me it's too far from reality to go cashless yes it's a positive move but it will take at least 25-30years of hard work (that is first to develop those rural areas, teach youth as much as possible, upgrade the schooling system) then we can talk about the change (a complete change).

Now the little change is a good thing and it will be helpful for the future. But saying about complete cashless is too much to ask and far from reality.

Hello Everyone, In my point of view, this initiative taken by our PM that is digital payment, is secure enough for the Indian economy is a good but it is upto some mark.

As we all know about 70% of our Indian population is uneducated and poor. They are unaware with uses of computer and digital technology and also some can not bear or handle the smartphone. But yes for these problem government has started many application like BHIM, PAYTM etc. But in spite of these they will face huge problem because sometimes educated person deceive them while transaction and payment due to unawareness of technical knowledge and government or bank policies.

So along this initiative government should start some plan or camps for these rural people regarding technical knowledge, these policies and how to work with these applications so that they can become aware of pros and cons during transaction and payments. Then everybody will be smart enough after having this knowledge and always opt for digital payments. Due to this black money will remove from our country and then this initiative will achieve its goal.

Thanks.

In my point of view, cashless India will be very good because everywhere you can't take money along with us because there is a chance of theft, and if we carry our debit/credit card with us if it is lost then also we are secure that our money is with us. And in case of corruption it is also good because if the person try to give the amount, men's transfer the money in his/her account in large Amount regularly then at some point the respective bank will have doubt then they can also tell the some of the government authorities to take action on it, our else they had been said to do this against that person.

And in the case of the person having the international card then there will not be the problem of exchange of money they can use their card in the foreign easily and many more things are there like if we go for shopping, having dinner at a restaurant we can easily swipe our card to pay our amount. But when it come to the small vendors then there it can face problem but now's a day they are also having App like Paytm and I suppose that in coming five years and so. These problems will also be solved.

Yes, digital payments are secure enough to use. Nowadays fastest growing technologies, businesses need fast and reliable data access. Electronic devices have become ubiquitous, offer easy connection to everyone people get all type of information on their smartphones, computers then why they should not use these electronic devices for payments. Yeah these electronic devices are connected to open a web which increases its vulnerability and data exfiltration but many companies are moving towards cloud services providers (csp) , in this case, one may not know the security measures being implemented for protecting the data so no one can hack the data. For authentication while accessing the data data it is not enough to put username and password only but also it requires mobile or email OTP verification which make payments secure. But in India most of the people are illiterate they even do not trust on themselve that whether they could use these type of digital payment modes so we need to educate them by campaigning village to village and make them learn how to apply security measures for digital payments.

Hello everyone,

In my opinion, digital payments are secure enough for the Indian economy to go cashless, I would like to enlighten some facts which will give the favour to this burning topic of discussion. As we all know that India is developing country and being a developing it is a good initiative taken by govt of India, as being a partner in digital transaction will help us to transfer big amount of money for our necessary work which is totally risky in the cash basis transaction.

Secondly transferring money through digitally will save us our lot of time and for rural area locality who are not so educated it will help them to learn new thing for safe and secure transaction of their money.

Thirdly and most importantly there is no fear of pickpockets and it also help to reduce the corruption which directly and indirectly will help our economy to grow.

In the end, I would like to conclude that digital mode of payments are more secure than cash-based payment and we all should be being a part of this good initiative in order to reduce corruption and help in the growth of Indian economy.

Thank You.