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

Hello friends,

As India is considered as a developing country, the use of digital payments is an important factor. Actually I think digital payments are secured enough unless we share our private details. Most of the people are unaware of this usage, so they feel unsecured. In this present senerio through digital payments one can easily access money.

I would like to conclude that all digital payments are secure and our economy would meet them in future, that is cashless INDIA.

From my point of view, the digital payment is secure enough if you are not sharing details. As for payment you have to enter the OTP that shared by SMS or your ATM PIN number, which is secure enough. You does not need to carry cash. But one problem is that if you save you banking password in your mobile is dangerous. Other ways it is safer than cash and saving your valuable time also.

Yes, it is a secure way to pay because all transactions are done online and create an evidence which no one can deny.

Indian economy is expanding with a very good pace and had been ranked as 6th richest and biggest economy. By this going cashless can rocket boost its economy.

But looking at the other side of the coin shows a big threat of security, for this we need to educate our people about the internet banking and threats related to it.

In a nut shell digital payments are reliable but within the jurisdiction of common people that the can handle.

"Excess of anything is harmful".

In my point of view, digital payments are secure to Indiana economy, it is very easy to translate or receive. But if there is some amount of money with us then it is easy to buy anything where there is no facilities.

Hi guys I am Ragini,

My point about digital payment is most important of our daily life. Through which we can easily very easy to transaction anywhere. But still now face to more and more problems someone. And they are alway worried about their money and so they are no use to digital payment and they think cash hand transaction instead of digital payment. Spacially rural area more concerned about things. Still Digital payments are work is best in urban area but not work in rural area. Still small business men not use to bhim app pytm and ect. Digital transaction.

Digital payment is a transaction done using a digital method instead of a traditional transfer of physical cash.

It has both pros and cons pros are increased opportunities of business as well as no need to carry huge amounts in pocket hence zero risk of pickpocketing, no chance of getting notes mutilated,

In digital payment, we enter PIN and OTP & the transaction is completed.

We should not share OTP with anyone.

Although the chances of fraud by hackers has increased but being alert we can defeat the fraud.

Nowadays approx 90 percent of transactions are digital.

According to me, cashless economy is good for minimizing the corruption but the problem is that the rural areas are no developed first of all we have to aware the people about digitalization in then we have the cashless economy.

Now a day most of the areas in India is not have the internet courage through cellular data. First of all, we have to work on the internet connectivity and speed then we are able to do a cashless economy.

Digitalising India does not include just the urban or semi-urban areas where you have easy access to network and other facilities. It should involve the rural and uneducated people too. Govt. Should take measures to properly educate the society about the proper usage of online cash payments, cyber crimes and frauds. And not just that, there must be strict regulations on cyber frauds so that people can make use of it without any worry.

Hi friends.

As we know digital payment is most common thing for a developed country like America, Australia and Russia etc.

So digital payment or cashless transactions is necessary thing.

In my point of view, cashless transactions or digital payment is very good and important decision for our country.

Cashless transactions have many benefits like stop corruption and cash problem. But.

That decision will take time to implement all over country. Cashless transactions required some equipment like smartphone and internet.