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

It should be mandatory for large corporates or businessman's but not for all because they have enough knowledge about digitisation and can make proper use of it. If govt wants cashless country, then they have launch some awareness programme for public.

Well, at the moment its a so far so good kind of situation. In a world where the transaction of money is just a tap away, it is natural that the cyber threats are knocking our doors. It would be foolish to say that digital payments are cent percent safe and secure, I'd like to say that they're easy and convenient and a little bit secure. End to end encryptions and decryptions aren't fully secure. So handling a huge amount of transactions with only a few taps of the phone is surely not secure, that too in Indian economy since we have a wide range of small vendors who aren't exposed to such technologies as such, and for them its just virtual money. Maybe a few years down the lane, we can afford to go completely cashless but right now, we can't even imagine living in a place like that.

Yes. It is secure but some time it's insecure for our money. Which is stored in many online banking provided services. And we lost our money. Because many hacker are present in now days. Which are hack our accounts easily. So for the safe this type of things. We must be check our accounts properly in regular time period. So online payment it's good for us. But some it's harmful.

Only digital banking is not enough to secure to go cashless. 1st off all, we don't know, what is digital banking. We are not proficient in computer. There is 100 crore people are residing in India. How many of them know, how to use a computer. By digital payments, rural peoples depend on others. It is not good for our society. Gradually, we have to proceed towards digital payment. I accept it is a very good initiative by our government. But we people have to digest it. Hope it will take at least 30 to 50 years to digest.

I agree my friend point, digital payment is not suitable for low-class people because they don't have such facilities like smart phones.

In my point of view, those people are struggled a lot because of digital payment. Village peoples are can't be adapt for this situation. So this is not suitable.

It's obviously a better and necessary step for the development of the country as well as decrease the rate of corruption. On account of the recent step taken by our honourable P.M. Mr. N. Modi ji was a most urgent and risky as well which has weakened the terrorist groups as well as put Pakistan under pressure as previously it cloned our currency but the coding done in the new notes cannot be cloned easily. Also, the P.M. Is taking initiatives to make payments cashless which would make the system more transparent and corruption free.

But there are certain limitations to it as going cashless invites many frauds and loots online. Hackers are the primary beneficiary of this and hence there should be more development in terms of security for online transactions and payments.

Education level in our country is very poor, because of this many problems are stand by in front of low educated people. This person do not know how to pay? I do not agree with secure digital payment, whenever the education level of India is not good.

According to me, this is the first step toward development to make India cashless but we need to create awareness specially in rural areas by making them aware of pros and cause of digital payment and now many applications developed for cashless money transaction but none of them can be 100% assure about there security. Recently many almighty twitter account got hacked, if our digital service securities aren't enough to secure for them then how can we expect such for us. We need to make it secure so that everyone will trust for making any cashless transaction.

In my opinion, Digital Payments is secure enough because its operated by reputed companies & they are following policies properly. Digital Payment Method has won the trust of almost all People. Because nowadays the use of Digital Payment is interested everyone having an account on PayTm and Freecharge and many more.

These companies are maintaining transference relationship with customers by providing high security.

I agree that India is the developing country. The Ever increasing population can lead to the shortage for supply if the notes for example there was a demontisatin act carried by our government. The people who used to use online payment method were not been disturbed by the act whereas the not knowing about the online payment methods had to suffer from huge problems of standing in line for hours and hours.

I am against the people who are willing to just curse the government for that. I believe that since we are developing country our literacy rate is quite low. That's why it cannot be completely transferred to digital payment but by educating people about such methods it can be implemented in future. Which is road to success for our country.