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

I don't think the digital payments applications are secured enough. The UPI based payment applications on your phone ask for your Phone code and the UPI pin that you have set for your account. These codes can be very vulnerable and easily your account can be hacked.

At this point I would say that India is partly ready to go cashless as it covers mostly the rural areas and illiteracy is the most prevalent factor. Hence it is much more important to educate the ruralites now itself than to immediately launch the practice of cashless economy.

Whereby that education must be fully of making understand and setting ready the people for the economy tomorrow.

Which goes by the saying "Necessity is the mother of invention. ".

Thank you.

I think that the way to cashless is very good and secure too in a way to cash, cash can be easily stolen, the transaction are safe and if any kind of problem arises you have the service centre and if you think your account is hack you can complain in your bank. The way of cashless for indians is good for even reducing corruption and black money transfers I do agree with the ones who say that it is not good for uneducated people in rural areas but for them the oy help can be provided to make them understand how to use atm card because it is really good to go cashless in market and do upi transaction and use of paytm we can avail a special discount on the transfer too. And the bill payment through this app are really to helping, no need to go anywhere in a long to pay your electricity bill.

From my point of view I say that the digital payment are very much secure in our country. If you use proper instructions to make payment to any person then one can able to do fraud with you.

According to me the digital payments are good one. It will increase the economic range of the India in guge manner. And this system reduced the black money on society, its result the poor of Indian people to be overcome. And this system definitely increases the Indian economy.

The present era is about digitization. It gives a boost to newer and easier ways to perform our tasks. As far as India is concerned, this is definitely the right time to shift towards cashless transactions to be on par with the technological advancements seen in other countries. Security has been raised as an issue but this is not limited to a single country. All countries face the challenge of cyber threats. New ways are continuously being developed to address the issue. Also, extra care has been taken to India to make digital payments secure. There is an authentication procedure to transact digitally. National Payments Corporation of India is also assigned with the role to regularly monitor the integrity of digital payments. So, yes, digital payments are definitely secure enough for India to head towards cashless transactions. The ease of hassle-free transactions provided by digital modes is really unparalleled.

According to me, digital payments are much convenient than the traditional method.

It completely reduces the human efforts.

As of now, it's not that usual across all the areas of India.

But if we just follow some of the surveys about the number of people using internet and smartphones, it definitely states that the days are not so far when everyone will start using the digital platform for transactions.

Yes, of course, cashless transactions reduce the thefts in this country. In other countries, they can use cashless transactions for better safety. But In our country, we have rural people's we can instruct them how to use cards and educate them what are the things they can aware of.

Advantage: We can sit at any place and with the help of internet we can make payment. Technological Developments are taking place so that servers are more secure so digital payments is a good option.

Disadvantage: Everything related to technology have its own limitation and also loopholes. Whatever single rupee we earn by doing the hardwork (Specially Farmers) so if digital money has been hacked who is responsible?

So, I don't think digital payments secure enough for for the Indian economy to go cashless until and unless we have solutions for hacking the digital money.

Well,

As per my opinion, digital payment is not fully secured for our economy as there are many hackers who are doing there job and will do they their job one way or the other, no doubt digital payments are helping.

The individuals who all are not having cash in hand at a point of time. But the matter of fact is security which as far as I concerned is not purely secured.

Thanks.