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

Hello Everyone, According to me, It is a very good thing that India is going digital because as we know everyone has mobile in their hand whether the person is a rickshaw driver or car driver. Also, every family having kids developing in a new digital environment. Even for a child, they eat their food when we give smartphone to them. If the child is a poor person they also friends and they are also getting knowledge from other by going outings and all. I think if the payment would go digital then every person will learn the digital things either with children or with their friends. It also develops new skills in them.

And it would really be a great revolution in the country. It is a very good idea from my point of view. Go Digital!

No, I don't think that digital payment is secure enough. There are quite a number of reasons for this. I recently heard from a responsible person from cyber crime department on how data are being hacked every day from our PC and Mobile everyday which does include secure and encrypted websites. Everyday data taken from us is used to serve ads to us related to our browsing behavior. Every day we hear some or the other way to extract details from our mobiles and PC. Even common payment systems like PayTM use saved cards for payments which can be very dangerous. Anyone that gets hold of you phone can get money transferred instantly from your card or bank.

With regard to this, we should concentrate more on giving awareness to the public regarding the risks associated with digital payments like OTP frauds etc and make them literate on systems and procedures associated with digital transactions. Also, I would like to say that most of the players offering digital payments in India offer high level of security with multiple layers of encryptions and other technologies. So making the public with such applications, smart phones, internet etc would definitely boost up to reach the goal of what we say a cashless economy in the near future.

Talking about cashless by digital payment is enough for making in India economy digital, I really don't think so. The country advised the people to use a toilet instead of going outside and we are trying to directly, it's not possible. The main problems are:

1:- As we know that in our country India about 60% are based on an agriculture sector and only 40% of the people of India is in the non-agriculture sectors.

2:- lot of people are unable to handle the cell phone completely. The Problem in understanding the function of it and how to use it.

3:- The biggest problem is the ATM which we use today. Microsoft which build the software used in the ATM machine, windows XP is used in the ATM which we use now but the software is out of security update because windows have stop the upgrade in 2007. They created a new software on Linux based software which is not easy to hack. Upgrading one ATM cost Rs 2.7 L.

4:- Government is imposing heavy tax on the ATM transaction. To make digital India plan suc cessful government should remove the transaction tax.

Yes, I think it would be a golden step taken by government when we think about the digital payment, many of people are unaware from digital technology but through this step, it must be aware from that and it improve the mentality of people as well as it also effects on our economic growth well.

First of all, we have to accept the fact, that India is a developing country, not a developed one, so this period of demonitization is a tough time to all categories of people whether he\she is rich, poor, middle class, upper class, begger or billionaire. So according to me our country going cashless is a very very good idea it may take time but once its well organized and channelized the results will be beneficial.

The advantages of cashless India are:

1) It will put an end on black money transfer. Example colleges (specially medical colleges) demand a high donation. The one who are rich pay the donation even though their grades are low, but for the poor people with higher grades suffer due to this. As country will go cashless this owner can't take the money because transferring huge amount of money from bank is not possible and cash will not be available (as new currency is used).

2). People don't have to carry their money with them. They can have their money in mobile, iPad, tablets.

3) India will develop more because new techniques will be equipped by people to modify the whole system of money exchange.

4) People can know where their money is been transferred along with all required details.

5) We can transfer money without even going to bank or meeting the money receiver.

6) Government can directly receive the tax from bank transactions, which people don't pay offently as people were using more of cash then bank transactions.

Disadvantages.

1) Hackers is a big threat to cashless India.

2) Some people don't know how to use electronics and have to face many problems to run their day to day life.

Though it is tough time for our country but in coming years India will develop three times faster than previously and all the credits go to our Prime minister (Narendra Modi sir).

In my point of view, digital payment is not enough for the Indian economy because most of the people are not educated and they do not know this technology. So firstly we can develop our education system especially in rural areas.

Yes, I think that digital payment methods are secure enough for Indian economy to go cashless because the security threats on digital payment methods are mainly due to lack of awareness among people & the other security threats thar we are talking about are with cash economy as well because banks with cash can be robbed, people can be conned by criminals. As these kinds of threats are a common factor in cash and cashless economy so we cannot take that into consideration. The digital payment companies are using highly upgraded systems to make digital payment as secure as possible & these security systems are being upgraded in a timely fashoin, so at last the basic security threat is due to lack of awareness which we can overcome by various general awareness campaigns and our government is also taking steps to encourage it. So digital payments are secure enough.

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.

As a coin has two sides as like this topic. My friends express their views on this topic. According to me, as India is a developing country. So the primary need is to educate the peoples. So as the technology is made by the people if they are more educated or the illiterate got that much education so they themselves try the easier way (the technology). And more the people get educated more the technology will be enhanced. As the peoples of the developed country are educated so that are able to use the technology and were able to make it better. So the people must be educated first.