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

Digital payments are secure. But in order to go cashless additional steps are to take. The idea of e-payments must be educated among the common man. The elder population and the poor should be given information relating to this. And in all the shops including the small, the epayment facilities should be implemented.

Hello.

I'm Mohit.

As in my opinion, it's true because if we have to pay lots of money to only one person then it's very difficult to take lots of money in our pocket. That means it's a very risky to take it on. So by the digital payment, we can pay lots of money everywhere at any time without any risk or problem.

After reading different opinions of people I must say they all are right somewhere partially or completely. Our country is a developing country we all know that and has various literacy percentages some of them is low and in some places it is good. Going cashless will be a disaster for our country because of the reason that not many of us now what is the internet or how to use it. But also without digital transactions, many of us who can understand the digital system will have to suffer because it will be much easier and time-saving with digital transactions. So one thing that our government can do right now is to enable both mediums of transactions soon people will become friendly with the system when they know which one is better. In that duration, those people who can understand the digital system will automatically use that process which will lessen the burden of cash handling and time-saving. In this way, we will not remain in our old state and will have a kind growth from no digital to at least half digital. Also, this duration will help government In establishing some important safety measures concerning the digital transactions. So, in my opinion, it will be better if govt establishes both medium for a time period.

Thank you.

Digital payment is going to help India progress in every field. There is no doubt about that. Initially, illiterate people may be had faced many problems due to demonetization. But there is a proverb that if there is no pain then there is no gain. So to develop our country at faster rates, Indian governments should take right decisions like digital payments so that India can match up with other countries at all levels.

Hello Everyone,

According to me, at current scenario going fully cashless in India is not possible because not everyone in India is literate. Many people even doesn't know how to transact from ATM.

It is beneficial for large transaction and money transfer because for them it is much more secure. But for smaller transaction like groccery shopping or street food swiping a card to pay doesn't seem to be much beneficial.

I can say that the digital transactions or payment is not mandatory for every invidual. Due to this, the people who are considering as illiterates can go for non digital transactions upto they get aware digital payment.

I think digital payments are secure in India, though there are many illiterate people in India in both rural and urban areas and they don't know how to use it but still curb corruption and middleman system it is better that we should choose digital payment transaction because to make India cashless and aware of technology we have to take step either today or tomorrow, then why not today only.

According to me, for Indian economy it will work to some extent i.e. in case of corruption. The percentage of corruption will come down to certain extent, but by seeing today's condition the corruption is still going on, it will mostly hamper to middle class and lower class people in large numbers, the reason being digital payments are not so secure, the reason being that many hackers are active now-a-days.

And a person with less knowledge, or new to this is unable to handle the situations in case he is been one of the victim of hacking.

Making all payments digital is the best idea. Digital payments will only require the internet. But it will not depend on ATMs. If given a proper lesson about digital payments, poor people can also make use of it.

In India digital payments is usable for economy. Digital economy help to killed black money because with the cash to grow the black money system. In digital payments is usable but without secure the banking system and network. Digital payments using all world but without make strong security zone system digital cash is not secure.