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

No, digital payments is not enough to cashless India. But still in village area there is manual circulation of money. So we want more development to cashless India.

Good morning friends.

As per our topic say about secure transaction while doing digital payments I want to convey my points that security comes in two ways first technological security and the education and know-how to use that particular digital platform to render a service. If both ways are good enough then it is better to go cashless. But if due lack of digital education and technical limitations there is always a chance of happening of fraud with anyone. So for the current scenario digital payments are not secure enough for the Indian economy to go cashless. There is more work needed to do on creating robust infrastructure for digital payments and to make society digitally literate.

In my point of view, digital payment is better option then hand to hand pay. In digital payment, its quick to pay the money. For example: Everyone she that or some people are using paytm, phonepe and mobikwik. Etc. In these apps, you can pay the money any time it only required one time OTP on this number which you open the account it also be secure and you easy to credit and debt money. So many facilities. Technology in India. If you have a internet then you can payment money through digital apps other wise you can pay hand to hand pay the money. I my view this is the better option.

As per my experience with the digital payments, I think they are safe. We get a notification on our phone as well as mail as soon as the transaction is completed. If sometimes the transaction is failed and money is debited, that money is also returned within 5 hours to one day.

1. It's time-saving.
2. Effortless.
3.Reliable.
4. Saves paper.

Government should take initiative in educating rural people. So that they could also save their time and effort.

Yes, off course, because digital payment gives me a way by which we can reduce time in banking, bill payment and it is so easy for those who not live in own hometown and have the whole responsibility of banking, bill payment.

In my opinion, yes, they are secured enough, especially in India, as we live in a world where India has a very good reputation in s/w field. So when it comes to have any s/w or any website related to payment in India itself, logically it should be good enough, plus technology for these payments has reached to a point where it is very secured enough, although no one or no country can guarantee it to we 100 secure.

Then tracking system is very good in the digital payment system, so in case of any mishappening in any transaction, it can be tracked easily and there are a very high percentage of rolling it back in order to compensate which we don't have in case of cash is been robbed.

The digital payment system is very easy to learn and adapt and through which money will remain in banks as they keep rotating from one bank to another, but always open for further usage, which we don't have in case of hard cash.

As we all know everything has their pros and cons as well. So, if we talk about the digital payment, it is a very developed and advanced technology we have nowadays, which can be used from anywhere and anytime. It reduces the problems of robbery and saves time as well. But as I said everything has their pros and cons so it has lack of security and can be a result of crimes and threats.

Yes of course!

After introduction of digital payments, it has become to easy to go cashless. We don't have to carry money and roam here there which also decreases the threat of money being stolen. We can easily access our card anywhere by the machine and pay the required amount. We can shop anything on online by digital payments. According to me, it's the best way to go digital.

YES, Digital payments help India to go cashless.

1) Nowadays everyone has smartphone and jio connectivity, so an excess of the internet is very easy and digital payments as well.
2) The government has also introduced Bhim, Paytm, all such app help us to go cashless.
3) Taxation would become easy.
4) Robbery, theft will be reduced drastically.
5) Bribe and corruption will also be reduced because government can excess any transition among people.
6) Payment time reduces for long distance payments.
7) To make India cashless, we need to educate people about online banking.

As we all know that the digital transactions are encrypted in the machine language they are considered to be more secure if we compare it with the offline mode of payment, but we should keep this in mind that India is a poor country and a majority of people don't even know the meaning of going cashless.

There must be some provision to teach those people the meaning of going cashless so that they can also extract out the advantages of it. Apart from being secure, digital transactions have several other advantages like it helps us out in emergency, it does not carry the risk of being stolen, and does not carry any physical appearance as such.