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

In my opinion, yes they are secure. SSL (Secure Socket Layer) is used for encryption. Also it is much better to do online transactions than carrying cash everywhere. We think much about the security of online transactions but is carrying lot of cash a secure way? Definitely not. In fact, cash will get easily stolen.

Besides this, many people get fraud calls asking for card no, pin and CVV. So, Everyone should be aware of these type of frauds.

Our honourable prime minister has taken an immemse leap in the processings of the Indian economy by implementing e-transaction. Not only will it help to fight black money but also will reduce the percentage of raw cash running in our Indian economy. People, specially in the metropolitan cities who are aware of online payments should use their knowledge in order to use less cash and make it available for those who need it in the remote areas. But with the increase in cashless economy, fraudulent internet practices have also gone high. So people who are new to this must understand all the information first and then take any step. And if India is thinking to go cashless it needs to make the digital payments secure so that more and more people join in.

When everything goes digital there is a lesser chance of robbery, yes. But soon robbers adopt to the change! We'll soon have hackers. In near future cybercrime may be the biggest problem to handle. Before which country should be well equipped with cyber police and many white hackers should be employed.

It is very good that our system is becoming digitalized. It is very easy to use when we know that things but in remote area network problem is there and elder persons don't pay money with e-transaction because of lack of knowledge. Then Modi should prove the free seminar for that person who doesn't know about e-transections and fear with that.

Well, it made a tough situation for the beggarly as its quite difficult for them to understand the complex methods of transactions. Although it's a wonderful decision by our honourable prime minister, but the middle class of our country must be provided with the information to move with this e- governance generation. Let's hope the best for a digital and competitive environment.

I personally admire the step that our government has taken in last few months to make our economy cashless by introducing motivating steps to encourage more and more e-transactions like using mobile wallet, plastic card, online transactions, e-banking, running various advertisement campaign to aware the public how to take the benefits by opting e-transactions over cash transactions as they are fully transparent and easily traceable in the eye of government so there is lesser or no chance of black money, money laundering, bribery, and so other odds can be nullified parallel in our economy.

I know the that initially, it seems to be a big milestone to implement and several challenges need to be faced like less education about e-commerce, adaptability to new products proper use and handling with less error and safety, Network spoof and their best implement at right time so it can be best utilized by number of pool.

Hello Friends,

Yes, according to me, Digital Transaction is good, it has a lot of benefits but sometimes signal problems takes place in the remote places. Also, illiterate people don't understand how to operate the system, so they should be given knowledge regarding the Digital transaction, so it will help to improve the cashless economy.

Yes, they are secure and they are future. We all know about 3d level security and now UPI and Adhaar based payment utilising our fingerprints. It's much better than carrying a lot of cash and being vulnerable to thieves and losing wallets etc.

Yes, digital payments are good for our country, first we don't need to carry more cash that is good for security purpose banks are secure your transaction when you pay anywhere in the world, it is directly connected to technology.

Here is some cons also, as people are facing so many problems due to fewer ATMs especially highways and rural areas and the transaction failed when the network connectivity issue so most requirement of signal tower or strength, banks are charged to the people for out of limit payment so this idea would be better when the taxes will stop by the bank.

No, I want to say we all use the mobile wallet as much as we can, and use a similar m wallet that available all places, for example we all should use only paytm wallet for our facility.