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

No, I don't think India is ready to go cashless at this moment digital payment. Indian cyber security is too deteriorated to put such sudden terrible step towards complete cashless medium because everyday we listen to unethical hacking, data breaching, government sites hacking. Even FB google are hackable through spam phishing and many methods. Even if we confirm that digital payments are safe enough right now but who gonna guarantee that it would remain safe in future too? a thief can attack an individual person and the loss would be to the individual but what if a modern intelligent thief gets target where whole population saving money would be at risk. He could attack number of peoples account at once by just sitting at home. I agree the thief is traceable but what if the attackers are from enemy countries. We are safe right now. Right now we should apply the cashless trial on small sector wise, department wise and gradually spreading it once we get enough belief in it.

Yes, digital payment are secure enough for Indian economy. now it has become a trend for doing the payment. Govt. is supporting the digitalisation.

Let's take an example:

If we used to go to market and then recharge the mobile number then shopkeeper does not give any discount and if we recharge through online such as paytm it gives the discount such as 30% cash back & free movie ticket for any payment.

Govt. has launched an app for digital payment is BHIM APP.
BENEFITS OF DIGITAL PAYMENT.
1. Risk less.
2. Get discount.
3. Secure Transaction.

Hi, friends.

Digital payment means all our money in the banks accounts not in our home so we can think our economy status. Whenever we face any financial problem before us so we knock some banks and bank helps us so if we give our all cash to banks so we think that our condition can be much better. We all know that each coin has 2 faces good and bad but in this time if we keep our major focus on good points in place of bad points so we can make our country developed. There is no poverty in our country only there is a need to better think for each situation so that we can gain even from the bad condition.

Yes, it is a good step if it is implemented.

Pros: Lot of employees in banks are released -they can be utilised some other areas, no paper wastage-environment is protected, no worries on the theft of money, everything is on our fingertips.

Cons: as the illiteracy is high it should not be implemented at a stretch, technology on security is a constraint, most of the people think weather their money is safe or not.

So the people must be educated in this concern, govt should take the initiative - a special wing has to be formed at every place for some years, they need to give awareness.

Thank you.

As literacy rate in India is only about 74.04% a huge crowd is illiterate and doesn't know how to make a cashless transaction and how sensitive these payments are?

Many people have been directly hit by some frauds asking their debit card details.

So, in a developing nation like India, digital payments are not that secure.

Yes, digital payments are secure transactions. It plays a main role in development. It ways a path to control block money and it controls the fake notes. Online transactions help to easy way of transactions. Exchange of goods also increases more. But in some cases, this not correct because the attitude of one individual on money decreases why because the mode of payment is different. Exchange of money by hand is valuable than digital trans. It helps banks to get a correct input and outflow of money. Taxation developed by using digital transactions. In most of the banks, there is no clarity of tax control so the digital transactions plays a key role in controlling the flow of money.

Yes, we can say that we are protected by digi- economy compares to early. We have no tension during walking on the road as no one can filch cash from us. But. Till now, India is not fully secured by the digital economy. There is the use of cash for any complete transaction due to the presence of illiterate people at corners of the country. So we can't say that we are completely digitilized. But the government should take responsibilities to develop the country. As much as possible. It's true, not a time of matter. A Long process. Have to do by government Mukesh Ambani teaches us about data usages. Lot's of people now use data or pay cashless.

The Government should take this advantages and increase the way of using the data or make the cashless country.

According to me, it is good decision for our country that there is no tax thief involve in buying or selling anything so that the growth our nation increase and another thing is that it is also reducing the security problem in public.

Yes, The Government is taking a good step towards this. But only one drawback is illiteracy. But this can be overcome by conducting workshops and educating the illiterates.

Going cashless has biggest benefit for our government that it will bring more transparency in the system and it will help to eradicate corruption.

It will be secure only when people are aware of technologies, how they can keep it safe it should be ensured by the government. Here in India, many people are not familiar with technologies, so transformation should be gradual then only it will ensure safety.