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

Dear All,

Digital payments is good for the Indian economy to go cashless and it will help to curb the black money.

But in my recent experience, I feel helpless without money while I was travelling from Saharanpur to Delhi. It was midnight, I feel to fill the petrol in my Car and the petrol pump boy said he is not getting a signal for the card transaction. I paid him 1000 Rupees cash, then I stop for dinner in a reputed restaurant, just out of curiosity I asked them before order anything do you accept the card, you know what they say no. Then I tried 2 or 3 restaurants the answer was same. On that time I feel so helpless without cash because on Highways you can\'t expect card transaction on Dhabas but the reputed restaurant is also not accepting the digital payment this is Ridiculous.

So, I request to the Government kindly make It mandatory to accept the digital payment on Highway, because a person who is travelling Is way too far from his home, where he/she can go for help midnight.

Because it's not easy to find an ATM on the highway in Midnight.

Hello, Friends.

I personally believe that digital payments is more secure for the Indian economy because it is easy, safe and secure to handle the cash. In this modern era technology is advancing day by day so it is very efficient and convenient to the people to go cashless. We can move around anywhere without any fear. It will reduce the robbery in our India. This new technology will help to improve transaction, online payments, credit, debit easily.

If it comes to the village people or rural areas. Our India is now in literacy rate. So if government give some knowledge and benefits about the digital payments, this will help them to go cashless with high secure. It will also promote technology and education. And also control corruption.

Thank you.

Hello friends,

According to me, there is always to side of any thing, it has a advantages and dis-advantage also.

So by comparing both the sides we have to find the conclusion of it.

Well, according to mi the cashless transaction is good thing to improve the economic and progress of our country but it must be done under some guideline.

We have to think that if we apply this then which problems has to fetch the people.

And, also have to take the pre-planed action to resolve this problem. So that the people can made convenient and secured transaction.

Yes, Digital payments should be promoted in a big way, due to the following advantages:
- Low cost.
- Convenient.
- 24*7.
- Paper less (conservation of natural resources).
- Plug leakages in economy.
- Discounts offered by partners to use their platform.
- Win situation for traders and consumers.
- Time saving.
- Highly secured due to regulatory norms on encryption, integrity.

According to me, digital payment modes available in India are not safe enough to face the high risk of cyber crime. The case of transfer of 1 crore 32 lakh rupee from 641 credit cards and recent finding of loopholes in the upi system shows that these systems are not completly secure.

According to a university in britain, any information can be taken out by hacking credit/debit card within 6 sec.

Internet unavailabilty, lack of infrastructure, digital illiteracy and a weak cyber law are the maistream reason for failure of digi payment.

Although going cashless is a great move but it lacks proper implementation.

In my point of view, yes the digtal payment secure Indian economy because if we prefer online payment like paytm, credit and debit card so we can save our time we can also reduce corruption and black money also. And we already know that the plan BHIM which is organized by the PM Narendra Modi which is online payment application so we should prefer online payment so there are a lot progit but some disadvantage are also like about rural area's people they don't know properly how to use ATM or Paytm and we know techonlogy has been increasing day by day so in the case account may be hacked by hacker in rural area and one more thing is that villagers are not well educated so it is not profit for that type of people so government should provide awarness camp for distributing the knowledge of such type of new technology after that digital payment can be effictive for future.

It's secure but, it has a transactions charges for each and every time. For ex, if I apply for a bank exam then its take an additional transactions charge of Rs.03 for Rs.600. Then, in card mode of payment we don't have a much charge than a shopkeeper because for every month he could pay a tax for using swipe machine more than 350 and additional charges for swiping credit cards so we need a digital payments without tax because if we use digital payment we need a network that is additional expense for us.

Obviously, cashless economy will be helpful in our country's growth. As it brings more transparency in the system which will lead to less corruption. It also diminished the need of carrying cash and also don't let people to wait in lines for cash withdrawal.

But when it comes to security of digital payments, even many of educated people are not trust them. As illiteracy ratio is quite high in India therefore, before introducing Cashless economy everyone should be educated about its merits, demerits and methods of using them.

No, Because in India, most of people living in villages still don't know how to use smartphones. To go digital there must be internet connectivity in each and every locality, In cities most people are adjusted to digital payments but those living in villages are unable to do so. They are either dependent on somebody who is learned or they would prefer banks. There are people who are still learning how to use ATM. So at this Time bringing initiatives to go cashless is not a wise move as we are still under progress when it comes to cyber Security.

It seems that Digital payments mode makes Digital India in a successful way. But we have few advantages and limitations by using digital payment modes. Mostly common people don't understand the procedure of digital payment mode. And they always believes cash transactions. This is happens because of lack of knowledge. We can change their mind set by educating them towards digital payments. Moreover, If we using cash-less transactions, It is very easy to monitor every transaction by government. Also, our income also directly credits to our bank account as well as our expanses also debits from our bank account/valet. That means the money we are using it is completely legal (White) money. Hence there is no chances to escape from government regulations. Additionally we will get interest rates from banks according to bank interest rate P.A. I am requesting to all please guide/spread to all, To make digital transactions and develop India towards DIGITAL INDIA. Being as Indians it is our primary responsibilities.