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

Hello everyone.

Our topic is "Are digital payment enough secure to go with cashless?" here we should be discussed on the point that favour to go with cashless or challenges and it's solution for which yet we are not going with cashless. But not advantages of cashless so from my point of view almost we all have a smartphone and we often use Paytm, Net banking and card swipe etc. So this thing can lead to go with cashless but if we think for challenges, there are many people who don't know yet how to use smartphone and internet typically senior citizen and children for them we can go with card swipe with limited transaction for eg) children pocket money account can save and transect up to 50-100 rupees. Because card swipe is not much secure than a mobile phone as security key type in transaction machine. Other challenge is cyber security, it is globally issue and it can resolve by group of specialist in IT field.

Thank you.

Digital payment is the most important to all of us. Because we have no problem to carry huge money in the crowd. It's easy to use. It helps the knowledge about your account in every minute. But some problem that side is a hacker. Otherwise, it's too good.

Yes, I do agree with the mentioned comments, and yes, definitely digital payment is secure enough to go. However, we may have seen the hacking cases everywhere but if we believe every coins has two sides or pros and cons and for fully implementing the programme it will take time to execute it perfectly. For that, we need the robust technology and bring awareness to every corner of the country. There is also need of awareness and use of dig secure app so that it will benefit every citizen of the country. Although govt has taken many initiatives, IMPS, BHIM app is the best example, through which we can transfer the funds digitally without involving a third party and safe transaction.

Let us hope that, it would bring dynamic changes in the society and achieve the goal of digital payment.

Digital payment is good as compared to cash payment. Various factors can be considered in favour of digital payment which is good.

Corruption can be controlled by this initial step of digitisation.

Time-saving is also an important factor.

But we can implement completely digitisation in our country because most of the people who live in the village and they don't know even about the internet. So they can get into trouble and you know this would not be good for our economy.

Yes, digital payment is good it can save time as well as don't need to carry Hard cash but it is not secure 100 percent because fraudster they are able to hack the account. According to me, RBI should introduce an advanced technology that fraudster they will not be able to access to the peoples account. Cyber crimes Dept should take strong action against the fraudster, they should be punished not only that they have to repay the money otherwise they will get life imprisonment. Peoples hard money should not waste.

Yes, digital payments are secure but with high cyber security. Digital payments will imcrease tax paying eco friendly. No more tension of exchange or carrying big amount. It has to be of high level security because we heard many cases cyber crime is master. So digital payment are secure for Indian economy but flexibility and security.

Yes, I do agree that Cashless mode of payment is easy, mostly safe, makes work simple and better. We know all of our younger generations have mobiles with them. We have many apps that make us learn how to make use of cashless transactions. Use of cashless transactions makes India go digital. As our present prime minister Narendra Modi said it is their mission to make India go digital and they have achieved 40 to 50%.

I think this was one of the good moves which they have taken.

Hello friends, according to my point of view digital payment and cashless scheme is profitable for Indian future and it is decrease corruption and crimes but it is not profitable 4 Indian rural peoples because they are not know what is this scheme digital 4 India scheme launched by Prime Minister Narendra Modi it is right decision 4 Indian economic development but in India 20% people are illiterate as my experience 70% people in my area are illiterate this scheme was only adopted by citizens rural people not know the digital India scheme because they are not know use smartphone laptop computers Indian government try to finish the illiteracy of rural area and a new scheme launched by Narendra Modi Sarva Shiksha Abhiyan it is a good decision for Digital India cashless scheme and cashless scheme is profitable for every person of India citizens and rurals.

Yes, digital payments are secured. According to my opinion, to make digital payment is an easy way to transfer money from one account to another. Due to digital payment, people does not face many problems like standing in a queue for a long time, and there is no fear about large amount of cash.

In India, digital payments is not going on properly way because of illiterateness.

Digital payment is by an easy way.

At the time of transferring by a digital method, we get an OTP number on our mobile.

And then we write OTP and money transferred in one second without fairness.

And we have proof of made a payment and receive the money.

By the cybercriminal point of view because of hackers people afraid to become cashless. So Indian government should give more security system.

Indeed, as per my perspective, advanced instalments are more secure than our easygoing instalment.

We as a whole are very much aware that each and everything has two faces initially are preference and the second one is a disservice. Show in the event of advanced instalment there will be there are likewise preferred standpoint and weakness.

Focal points:

Computerized instalments spare our opportunity and are a compelling path for our exchange.

We require not to convey substantial money pockets and move all over for purchasing or shopping.

By utilizing computerized instalments that exchange is straightforward and there are fewer odds of debasement.

We require not to remain in line for our instalment for electric bills water supply bills or some other things. We can exchange cash by only a solitary snap.

Hindrances:

India is a creating nation and a large portion of our populace is provincially based so individuals don't know about the utilization of computerized instalments.

Besides, they don't have intends to do computerized instalment as they don't have a web association or any cell phone.

Computerized instalments are great however there are a few regards including in IT, for example, our record can be hacked which prompts Cybercrime.

With everything taken into account, we can see that a computerized instalment is having a bigger number of points of interest than burdens so we ought to go for Digital instalment and go cashless.