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

Digital payment helps to make transactions more easier than old days. But most of the rural area people they don't have the basic necessity of needs. So after improving the level of all our country people and then we move on other stage. Now the cashless economy is not possible.

I think it is not a right time to go for cashless or digitalization because demonetisation & GST already reduce over economy or GDP so over society requires time to adopt new things .Take a example of barter system which also require a time to convert into paper money.

A coin has two sides, as it is the initial stage for digital payments so we cannot rely fully on digital transactions. As the cyber fraud has increased these days, people are afraid to use online transactions and prefers to use cash more. These frauds are seen in rural areas are more than urban areas as people of rural areas are unaware of the cyber fraud.

So basically we should first educate people of safety measures to be taken while online payments. In that situation, people get confidence and use more online transactions to make India a cashless economy.

Hi everyone, in my point, digital payment will beneficial for us as well more secure.

I think digital Payment is not enough secured, lots of crimes are done during transaction of money.

Digital payment is quite good. As far as rural people are concerned, they should have perfect knowledge & trust on the online transaction. Normally people in rural are full of fear & most of them can't develop a feeling of (like cash) in yourself. The government should start programs visiting village to village.

Hello everyone.

In my opinion, digital payments is secure enough rather than to go cashless for the Indian economy because it reduces the crimes happened and the black money problem. As said by Narendra Modi to make India digital and also said its benefits how it is essential. Everyone wants that their work should be done immediately and they don't have to stand in a long queue and for this digital payments will be more beneficial. Through this, there will be a faster response in the transfer of money.

As some of my friends said, that digital payments are not secure enough as there is a hacking problem and also that in rural areas everyone in not aware of this digital payments. So for this governments has to put some security and in the computer, there should be a tight security so that hacking problems should be finished. And in rural areas government Sent some people who can make them aware of this digital mode of payment.

If all these types of actions are taken then one day there will be the happy life of people which will help in securing our Indian economy.

That's all.

Thank you.

Hello everyone, as my other friends has already demonstrated the topic, in my opinion, digital payment is the best way to improve the economic condition of our country. As digital payments are recorded and no one can done illigal transaction due to the fear of being caught. Also digital payment is reducing the risk of stealing of money as due to digital method of payment one can easily go to any place without having a big amount of money and there is a good security provided on these methods so that no one can misuse them. Like paytm and other payment apps needs your password, thumbprint, cvv, otp and upi number to transact. Which is making payment more secured. If your atm is stolen then also it will need your password and your mobile will also need passwords and other information to access your money. So we can say digital payment is secured enough for the Indian economy to go cashless.

And as we know there are a lot of illiterate people who don't know how to use these methods so for them we can ourself organize a digital payment awareness programme in our locality. This will be a good initiate to make our country digitally stable.

Thank you.

Hello everybody my point of view is that I think digital payment is not secure enough for the Indian economey to go cashless because now a days we are seeing that lots of fraud is going on through digital payment because if digital payment will increase lots of fraud things will also increase because I have seen that those people who are well educated are also got in this trouble it is not about literate or illiterate because in this world there are many smart and clever people who can make people Easley fool and if this kind of fraud happened with innocent people they can not overcome from this because might be that person is poor and did lots of hard work to earn that money and because of some online payment or might be because of fake call that money can be stolen from him and still in India there are so many people who don't know about the internet if they know they don't have smart phone or if they have smart phone they don't have enough money to get internet recharge so with this I would like to end up my topic I am not I favour of this.

Thank you.

No, in my opinion, digital payments are not secure at this time because Indian economy is not stable. We have not big softwares which can secure cryptocurrency.

Although digital payment made people's lives easy.