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

I don't think digital transactions are 100% secured because there is some possibility to hack our account by hackers. It doesn't mean that we can't go cashless, but we have to take precautions when doing our online transactions. Like don't share our OTP to anybody, don't share our bank details, login id and password to any person. If we take precautions while making transactions then it's not harmful for us.

Second thing is that the peoples who are educated and afford the smartphones can make digital transactions but some are unable to do it because of lack of knowledge or they can't afford. So the responsibility of our government is that to make awareness of digital transactions to the people and provide more suitable banking options to them who are not afford smartphones.

As per my knowledge, I don't think that there is any difference in a cashless transaction in the urban and rural area. Because if you have smartphone and you are educated then it doesn't matter where you are. Even some rural people can make digital transactions accurately but urban peoples can't.

I think digital payment have both negative as well positive effect If we talk about the metropolitan city where people are so busy that going in ATM's, banks they have 2 think twice whether to go to the bank and stand in a queue or go to the office where they are paid 4 giving their time. That'swhy People without taking another thought prefer digital payment. As we all are aware all positive thing bring with them its side effects this is same with digital payment also but according to me, the government are trying their best to make people aware about fake cl regarding payments even banks specifically notify about it that bank never ask for our atm pin any info regarding an account. Now. coming to the rural areas illiteracy rate is though high but now everyone is using smartphone if given demonstration ad Trail with government initiative to make them aware about its benefits ad what things to remember during its use ad also making them aware about fake cl, how to respond to it, to how to give info about it, it can become boom to both societies ad in whole our nation.

Hello, everyone.

I think this is a very good decision of the government to make India cashless. Because it can pay a very good role in making India developed from developing. This is true that it is not perfectly secure but if we are careful then it is very secure too.

Due to many populations of India not only in Bank but everywhere like shops, railway station, market etc. There are many people who are wait to take or give money. Due to this many people suffer.

If the transaction is done with digital method then it should be faster than that. And this will be a time-saving process.

But there is a big problem in India that many uneducated people do not know about this. So if government tell to such people all about the benefits of the digital transaction.

If all the process explains them properly then villagers are also used digital payments, to use this, is not so tough.

So in India, the person who knows about the digital transaction must use it and try to expand it so that transaction becomes more and more transparent. And every transaction may be done easily.

For any system to be secure and successful there is a need for basically two things. First to have knowledge of it and second the process involved in making the system should be advanced and dignified enough. The process can be anything like in case of digital payment, the process is the "payment through online" And having the knowledge means being familiar with the ways of using the system. And in present scenario we are completely struggling in achieving the target. We are 70% population living in the village among that 40 percent don't have smartphones and the people in rural areas are still illiterate, they don't have the basic education, and if the are lacking behind the basic education then how could the know something about the technology and digital payment. Also, we have a week infrastructure. Using the digital options for payment through the payment app if goes unsuccessful then we have to wait for minimum 3 hours to 7 days to get our money back.

Digital payment is essential to boost the GDP but to achieve 100% cashless is not possible with this condition.

In this 21st century where make in India and digital India all play a very important role in the transformation part of the country, we need to give more stress on the part of SECURITY, is it secure enough for the economy to go cashless?

Going cashless is the trend, doing paytm, doing a wallet transaction thats considered as important and easy too.

But we want to remember is regarding the fraudsters behind this online wall. Who can easily crack our online credentials, before we knowing about it all our money will be transferred to Malaysia or Thailand. Most people in India use mobile and computers without proper antivirous and security system which make themselves as prey.

Technology is also not that great in India, but its improving at a good phase, thanks for the techies behind it. If the right and proper technology is not used then it is easy for the online fraudsters to crack and win the situation.

If you want to go cashless make sure that you have the right technology, right security system then go a head. But that is the major issue we face in our country.

In my opinion, cashless means less cash and not no cash it is not possible to go completely cashless. Digital advancement has paved way for digital money. Now even Indian PM emphasizing more on educating people about using digital payments by various means because using digital payment method has many advantages for the person using as well as for the nation. BUT with advantages, there are disadvantages as well. Talking about advantages it is convenient, fast, 24x7 available, no need of carrying cash everywhere since digital payment are accepted mostly everywhere and the most important thing it is safe. Now it has its own disadvantage for using digital payment fast internet connection is required and India still lacks in terms of internet connectivity. Sometimes the transactions get failed so many of the companies usually takes 4-7 business days to refund your money. There is also threat of your important data getting misused. So yes digital payment is very good and convenient for the people but with some improvements, it will be accepted by more number of people.

If we talk about the benefits to go cashless then it is a really good enough for growing the economic system and it is more convenient for citizens but all the things are the rosy pictures for Indian civilians to go through the fully cashless system and it will be comfortable for everyone. We are living with the population where people don't know where they should go for discharge their waste. And the reason behind this is illiteracy.

We are bigger in quantity but not in quality.

In the country, the biggest population is surviving poor daily life facilities then how can they make digital payments.

On a side, government says about the digital payments and online transactions but on other bank imposes the charges on it and minimum available balance policy is the worst example of banking,

I don't understand why a person would like to have any relationship with banks.

I am not opposing the digital payments in India because it will definitely glow the face of our country but India economy at present time is not ready to accept it fully and everywhere in India.

Digital payment in the changed tech savvy environment is the order of the day. We need to find out a convincing reason why we can't go for digital payment and what hinders the transition from cash payment. We have already an upward swing in the digital payment immediately after demonetisation where there has been the upsurge of digital payment by 75% around which gradually coming down with increased circulation of cash in the economy. It's basically the mindset which is the main hindrance. The transaction where the sender does not want to keep any trail of receipt of cash and or payment, they are averse of the digital payment. As the economy is gradually maturing, even the small vendors prefer to have the swap machine to comfort the customers who opt for it. Now, the question is how much it is secure. My submission is, it is as secure as your wallet is. There is no need to transact through one debit/credit card. One can create a digital wallet, transfer whatever fund one requires for a day or two and go head with transactions. There cannot be any cyber threat.

Making India cashless is very good decision by the government, as the technologies are taking the world to great level by reducing the manpower. As today it is just a work of seconds for payment, money transfer etc. It makes the life of people easier but every thing has its dark sides. Recently the attack of ransomeware globally make the people think that digital payment a unsafe measure. 2-3 weeks ago, concurrently children in japan developed a ransomeware pass it to the servers and demanded for ransome. But later it is controlled by the cyber security of Japan and the boy is also arrested by the cops. If this things takes place in India then I think the cops and cyber security of India will not get deal with this thing. I am not telling that digital payment is a false step to put in but there are many hackers who doesn't like this system and they started hacking the site, Facebook account, twitter. These creates problems for the folks. So before making any digital payment please check the authenticity of the payment gateway and whether it is secured or not.

Hello guys,

I am Zubair Hamid, in my opinion the step of digitisation has brought more of a positive change in our country than negative, because digitisation is a one more step towards modernisation and economical development, India is developing at a pretty good speed mostly when Modi Ji started to maintain things, but lets not forget the fact that our country has also some weird records when it comes to black money and black markets, getting digital will not only freeze such fraudulent organizations but will also revolutionize the way of living and our country will prosper with the passage of time, coming back to the dark side of digitisation, I do agree that almost some percentage of our Indian population including rural areas are going to face some problems regarding the usage of smartphones and smart apps like Paytm etc but in my point of view with the passage of time everyone learns to make his survival easier and more secure, in fact, everyone likes to be modern, so change is good but every change takes some time as well as effort to come into place.