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

Yes, I think the cashless scheme is quite good up to some extent as the crime rate and all robbery is reduced, but there is another point is that you cannot completely rely on it. Anyhow when you are using the online payment method you have to be careful while making any kind of transaction.

You should make the make through a trusted website and in a securely established connection so that risk of any kind of fraud can be diminished. But the Major problem is the many people in this country are unable to make any kind of transaction or they feel insecure while making any online payment. The reason is simple they are not used too for the technology and computers so such kind of people are definitely going to face the problem if the cashless system is present throughout the nation, so there must be other option for the payment for the people who are not able to pay through digital payment or feel insecure during the payment. As money is worthy for each and every one of us so government should think about other substitute option for the digital payments.

As India is developing country so the process of making India cashless if very difficult and time consuming process it may be possible as fast as possible when all the people of India becomes aware about what's the advantages for going across the cashless economy transactions and it will take lots of time and also there is no security about that there will be 100% true result. So I think it has to be taken as the dream which may be possible or partially possible.

Yes, digital payments will be secure for the Indian economy. The time will be saved and also it will help to the development of the country. From this person will also learn something new and will be a great advantage in problems such as robbery and carrying of cash. Also, the rural people who are unaware of the using the digital payment will be able to learn and it will be a major step for the development of our country.

First of all, thanks to Shri Narendra Modi Ji for taking a move to ban the notes.

So moving towards our topic is digital payment is secure or not?

So I my point of view digital payment is not secure in our country.

Because according to American chipset makers the device like mobile in India is not secure because they not possess quality chipset which are required for security.

Only computers and hardware have secure chipsets.

So as our prime minister told that help 10 people every day by giving them knowledge about digital modes of payment this is very good thing which our prime minister told.

But.

As you know "MONEY IS GOOD SERVANT BUT BAD MASTER".

The person who has not known anything about digital payment can easily cheat by the person who as all knowledge about digital payment.

Person who is well aware by online payments can easily get login id, password and most important thing that is mpin which is used to do digital payment of the person who is not known about digital payments.

Even the president of developed country America Donald Trump is using courier service for important documents exchange rather than using online mail service because of fear of hacking.

Hackers are the major problem in India and as well as all over the world.

Online scams, fraud are main problem which India may suffer at the time of online transaction.

So, India is not secure for doing any online transaction and go cashless.

Yes, I agree that digital payment is safe enough to be used because the various rules set for various transactions, while using these all facilities one has to go as according to steps necessary.

Digital payment is great footstep towards end of corruption and also the GDP growth as for eg in us like country the use of e-commerce sites and in various transactions are being done digitally.

In my point of view, cashless is necessary for increment of our GDP. If India will cashless then all the information related to money will be in calcultive manner at the government and then they will have easily control over corruption. Then India will have come first over the development. & thanks, guys.

I agree with all your comments. But, it's not ease to possible to made cashless India. However the Indian government was tried to cashless India by conducting several programmes and etc. Min it takes 3-5 years just understand what is online that's it. An illiteracy rate is higher in Bihar. It is a very very typical process. The main use of this process is internet surfing charges and bankers transaction cost extras. Later I came to know there is no need to maintain an income tax department when no corruption in India.

According to my point of view, now India has a cashless country. But according to digital payments. Is not easy for all to do all transactions. Everyone you know in India 70-75% area covered with rural. So first we all we aware about the digital payments who don't know. We go all rural areas give ideas and aware about digital payments. In this way poor people get aware. Acc. To my point of view there is many benefits like cashback after the transaction and so on.

I believe that anything new to general public always creates some havoc and unrest situation as we saw during demonetization but after some time they become aware of that term or situation. So digital payment in starting may not secure but when people learn using it and being educated of that then definitely it will be a more secure than cash payment and in long run benefit our economy also.

Going cashless is definitely a laudable step by Indian govt Let us just take it as a means of educating our "so called yokel" population which you feel is not sophisticated enough to grasp the know hows of cashless economy. You tell if not today then when are you going to suggest it? In 2050 by then rest of the world will be way ahead of us to catch upto them. We along with remote area people will be able to transact cash in a flash isn't it so convenient. We can just take it like ATMs there must have been a time when ATMs were introduced at that time it was not that appreciable but now even labour workers use it. It will blend in the routine once we accept it. Alright if its credibility is a question you feel it's not credible enough then is cash payment secure? does it not face the heat of corruption? it definitely does, so instead of reverting back its better to adopt a newer system which gives so many benefits like technological advancement, record of all money transfer, reduction in tax theft, no more money laundering through illegal ways, more money in our economy, higher GDP, diminished poverty. Cashless should be welcomed by all for the greater good of our country and its citizens. Its granted that not many have smart phones but cashless will speed up the approach of internet and smart phones In Indian villages. Which otherwise will remain a sluggish process. I don't say it declare it today only but take it step by step and start laying groundwork from today to propel it.