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

Hello guys, digital payments may save our time, our money from thieves but still there are some rural areas or some people who are not as much aware as us, so it is not so easy to having a environment of cashless India. According to my point of view, first we make aware all about digital mode of payments and then it is beneficial for our economy to go cashless.

Hi everyone, I am Rohit.

Yes, Digital payment is highly secured because we no longer need to spend time waiting in the long queue withdrawing money and hence it becomes very easy for us to travel to distant places even without worrying about the risk of carrying money as we are able to pay through online mode.

But on the other hand, there is a high risk of cybercrime towards which this digital payments application may be vulnerable too. But the government is looking after all means to ensure that the money in the bank remains highly secured.

Digital payments makes accounting for money easier whether it's about taxes, or the balance sheet of a business. Not only it benefits the business but also make life easier of the people in general. Electricity bills, shopping bills and payments can be done within a single click. As far as the security is concerned, the government should work on it. There are many cases of data leak and hacking. So, I would suggest the government should implement strict security measures before going cashless.

Yes, obviously the payments done digitally are secure enough for the Indian economy because via digital payment the record can be kept! Points which will support my statement are as follows; -.

* Robbery will be in control somehow!
* People will feel free while walking on roads at late night!
* Keeping wallet which is full of money in back pocket causes misplace of the hipbone!

Hi, everyone.

I am Abhishek.

I think digital payment is very useful for our country it makes easy to give money to other people anytime and we don't need to carry ba ig amount of money in our wallet.

No, in my opinion, digital payments are not secure at this time because Indian economy is not stable. We have not big softwares which can secure cryptocurrency.

Although digital payment made people's lives easy.

Hello everyone,

So, here is the topic are digital payments secure enough for the Indian economy to go cashless.

In my opinion, I think digital payments are a good idea for the growth of our country. As it saves time and easily and fastly we can do the transaction online. It is helpful for every educated people who use smartphones and worried about travelling with a huge cash.

Digital payments made us cashless but it is somehow not secured. As there are many hackers who can hack the passwords and pin and takes all money towards them and hack the account which is somehow one of the demerits of it.

Another demerit of digital payments is that rural areas people don't have any idea about how to operate smartphone even though they didn't have so much money to buy it there were mostly uneducated people so, they didn't make an online transaction they may face problems towards it.

So, firstly government should provide education or classes to poor rural people before making the Indian economy to go cashless.

As per my point of view, digital payments are secure for indian economy.
But there are some merits and demerits:

Under merits:-
# we dont have to stand in queue for transactions,
# we can do payments quickly through net banking
# we can track the paments via using a smartphone
# we dont have to move out with huge cash
all the above things are done by a set of class of people that is educated people,

Under demerits :-
# rural india is unaware of this process.
# this above facilities are made only by educated people
# people from the rural part of india cannot use smartphones
# rural part of india is mostly uneducated

So, I would ilke to conclude this topic by telling,
Thus government sholud take steps in making the rural part of India awar of these facts.

I think digital payments is a very good initiative taken by our government, which somehow reduces, dependence on branches as well but at the same time some demerits are also there, many people whether it is rural or urban, still hesitates to share their card or bank, this is because the mechanisms that controls this whole networking system. So for this all our govt. Has to do is to make a safe securing networking system that cannot be decoded by anyone or else should insure the amount having in the bank account.

And government also need to take some measures by which rural people, weaker sections, senior citizens can easily use this digital payments. So for this govt should take some measures to help and educate them and right now, the situation of Indian economy is not so good, internet network is also suffering and also the accounts are not safe also. So right now it is not the right time to do so.

Yes, digital payment is secure for the Indian economy to go cashless by the help of (otp) one-time password. Like paytm, bhim these are very easy to send & received money by other. There are many advantages of digital payment but at this time India is not ready for digital payment. Rural area people are not that educated no Internet connectivity in rural area.