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

According to me, digital payments are secure but this is possible for only those people who know how to do online payment or any other.

But in our India most of the people are illiterate they don't know about this. So, first, we will make to all people literate.

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.

I partially agree with this, It's true that digital payment is secure enough for the Indian economy to go cashless but it is valid for the peoples from cities who have good knowledge about this system because they mostly are educated but if we look into villages peoples they do not aware about it, even they don't know how to use smartphone then how should they make digital payment.

So, I just want to tell government awareness should be done by the peoples who were living in villages then and only then this system gets more efficient.

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.

YES!

Life has become easy since this scheme as everything can be pay and can be brought using mobiles. It might be grocery or paying bills, mobile recharge all our daily needs. The daunting has been vanished for carrying money in their pockets because of digital payments and in worst case even if mobile is been mooched It can easily be endowed. But still, as the majority of people is illiterate it becomes difficult to understand and make use of this scheme. If there is provisional of awareness regarding how to use such technique between such peoples no wonder it will help them and India to be a developed country.

Yes, I think its safe. Because nowadays there are lot of secure ways to cashless service. Before we go to the payment the Password, OTP are the steps through which our details are encrypted. But the most imp fact is that in India there is lack of awareness as well as lack of knowledge to use cashless service. Most of the people can't handle smartphones. So, before the implementation of this, we should make people able to use this service. Because it has many benefits. We can order or purchase the things we needed at home only. No need to go outside. It saves our time. .

According to my opinion, digital payments are much more secure than the cash because of the following reason.

1. It is easy to carry. In India, before digital payment, people feel unsafe when they have to carry a large amount of money with them.

2. It is easy to transfer. Before this, if any people want to transfer money to other then it necessary to go to the bank for transferring money. Now in the present days, we use mobiles & various electronics gadgets to do this.

3. It is highly secure. It uses various security checks like OTP, password, biometrics etc.

But there are so many demerits, as we all know in India there are 65% of the total population are dependent on agriculture. And they don't know how to use mobile phone & gadgets. They are easily cheated by the people. So firstly, the Indian government should have to start an awareness among the people related to digital payment.

So we conclude that digital payment is not much secure in India because of lack of knowledge among people related to this. But it will take at least 5 years to the completely secure Indian economy.

In my opinion, the context varies throughout the country. Nowadays people are abruptly shifting towards the smart mobile phones which is in itself a good sign to bring people to the digital platform thanks to the internet data giants. This enables all to use the digital modes for the transaction.

Regarding the safety as all the modes has 2-3 security levels like OTP, PIN, mPIn for UPI are safe enough. Sometimes, these modes fail which causes panic situation but there is no worry as per my experience the failed transaction amount is reversed back into the original account within 7 days. Also, anyone can say that I will not be able to use the money instantly in case of failure so this is truly a major drawback of payment modes like UPI.

From my prospective, digital payments are safe in India today. Everything has become so easier and safe these day whether you talk about paying fee, mobile bills, electricity bill or ordering something. The various apps and digital transaction sites are secured enough to prevent from any hacking attack. There are atleast 2-3 security level like your passwords, otp etc before any transaction is made. So, I would say the person doing digital payments should be well aware of fraud calls, messages etc and not to share any security information like password, OTP etc. Otherwise, the banks and other digital wallets are providing us with enough security to make easier and safe transactions from our home.

Yes I agree, digital payments are secure enough for the Indian economy to go cashless. But firstly, we need to make people aware about the latest technology, still many people don't know how to use the smartphones, so I think before implementing any drastic changes in the way of making payments, making people aware should be the first priority. Also, India is still a developing country, so for the development purpose, we need to make the human resource of the country literate and then going cashless thing should be taken into consideration.