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

Hello friends,

In my point of view, digital payments is very secure as compared to other. India is not a devoloped country but it is a devoloping country. For a devoloping country this type of technology is needed. Today most of them chooses online transactions. But in the rural areas people don't know how to use this process. So this technology is mostly useful for the coming genrerations. As every coins has two sides so just on the basis of negative sides we cannot just torn out this process.

THANK YOU.

In my viewpoint, the digital payments in India is secure enough. The government of India is bringing the best technologies to make the economy cashless. Bank to bank transfers are reliable, secure and fast. The government of India has made payment platforms like UPI and BHIM which are 100% secure.

Hello everyone.

In the current technological era, the world is welcoming the new and innovative concept of making payments i.e. Digital payments. More and more people are embracing digital payments across the globe. In India, with the extant government great focus on digital India and making the country a cashless economy, millions of people are now entering into the digital payments arena. There are so many people who are making payments via Net-banking and mobile banking for the first time even they have been maintaining their bank accounts since years.

The digital payments are safe and secure if the people follow all the rules and guidelines. The people tend to ignore some small points mentioned in the guidelines which creates space for breach of security for the digital payments. All the payment banks, the wallet owners, mobile banking apps manufacturers keep researching to make the payments secure. So it is necessary that the people upgrade all these apps time to time. There is no need of panicking if the people remain alert while making these payment.

Just like a coin has two sides similarly to the concept of digital payments has both negative as well as positive aspects. One one hand looking towards it positive aspects digital payment mode is the best method that benefits the people in a variety of ways. These include;

* Saves a lot of time.

* Contributes towards development of the country.

On the other hand, focusing upon the negative aspects more than 70% of the population of our country is primary activity based such as (agricultural, animal husbandry, fishery etc. ) which denotes that most of the population of our country is illiterate due to which it becomes very difficult for the people of the country to adopt the system of digital payment moreover the security system is not so much highly advanced that it can lead to safe completion of the process. In India before any system is made completely the ways of breaking that system are made first due to which it is unsafe to perform transactions through online mode.

Thus, it is not possible to completely transfer the economy in a cashless due to its disadvantages but slowly and steadily the dream of digital economy can be made true by spreading awareness about its benefits, making people literate that will serve the dual purpose of 100% literate India, providing training sessions so as to train them how to use the system.

Basically, at current stage Indian economy is at its rising stage, which wasn't the case a few years ago. To enhance this growth, digital payments are the best solution. And like many major countries like US, China etc India too have the potential for securing this payment and finding a solution to any flaw in the system.

Keeping the population as one of the aspects, digital payment won't be accessible to everyone at the beginning stage but as time passes everyone should and would go cashless and the system would also keep optimizing itself.

Concluding that digital payments are secure and can completely achieve cashlessness and help people to live an easier and cosy life.

First and foremost, I would like to thank Our Government for this new step they have taken towards the betterment of all citizens as we are in juncture where everyday we have to learn and adapt and implement new things with the gadgets and gizmos to go by hand to hand without aprehensions, See you all must have understand that these machines are the most sphosicated if we know to use in good manner. I think everyone must have Flaw with this new digital achievement.

I agree that going digital is a very good idea to abolish corruption but India is still not prepared for it. Even if we think of going digital, what about all the grocery sellers out there who can not afford to set up digital systems for making transactions.

India is still developing and it has not developed yet. The Internet is not still India's thing. To get benefits of going digital in its true way, we need to ensure that the accounts and transactions made online in a sec.

Yes, digital payments are secure if we properly apply the security level needed. As we have the best IT professionals like TCS, Infosys. All we need to have is train our people to cop up with the issues arising out of it and make sure that we people also take our individual responsibility to educate our near ones so that India goes digital as developed countries like US.

Hello everyone,

According to me, digital India's step towards digitalization is a proof that we are getting educated and developed. But in India itself a large group of people belongs to a middle class family and some people even living in the urban areas are not as much aware about digital payment or there is some lack of knowledge which makes them feel discomfort in using such type of technology. So, first in foremost need of the people here is to be educated about such things. Here education does not has anything to do with rural or urban areas, it's just you must have that curious being in yourself who is eager to learn new things.

Thank you.

In my point of view, digital payment is somewhat secure enough for the Indian economy to go cashless because many people who are exempt from paying the tax would definitely start paying all the taxes in time and therefore black money can also be reduced at some extent. All the transaction will be done in a short interval of time if digital payment would become cashless. In some extent, it also helps to improve our economy development.

There are some drawback if the payment would become cashless because in our India, those people who are uneducated will suffer the most if they didn't get proper education to use cashless transaction because anyone can make them fool and can cheat them, but if there would be a genuine or a truthful person who will teach them, then definitely the digital payment is secured one.