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

According to my view, cashless economy is important because it reduce the block money scams and robberies.

It is possible when India literacy rate increased, for this government should take steps to increase the literacy rate in India.

Hi, I'm Jay. Obviously, this payments are secure for the Indian economy, and to go cashless then India will be going developing to developed country. But one major problem is illiteracy people have don't knowledge on cashless, transaction and also don't have smartphones. The government should take the action to council to rural people for what is the use of cashless and how to use online payments, transactions. Then an India will be reached to developed. And also literacy people can help to illiteracy people then India will moving fast forward.

As per my view this processes is useful but not now, in our country because of lack of awareness in education system in rural areas and also India having lot of corrupted ppl in politics first we will choose right candidate in elections and you fight for cashless n paper less transection.

According to me, digital payments will definitely secure Indian economy but only when the literacy rate of India will increase. Government should take step to council the people specially in rural areas that how the cashless transection is important now a days. It may also reduce black money scams and robbery level. Somewhere I feel that we people also take initiative to go cashless. Because when we take decision it has its own positive and negative points. To go cashless I don't know I much time the India will take but this step can change the India from developing to developed country.

Thank you.

The Digital India program is a flagship program of the Government of India with a vision to transform India into a digitally empowered society and knowledge economy. "Faceless, Paperless, Cashless" is one of professed role of Digital India. When we compare to conventional way to carry our cash, the mobile wallets which are being provided in different apps are handy and convenient. Many different discounts are being provided right from movie tickets to railways tickets. For quick and small payment I think digital payments are secure enough, under cashless India program government have provided many digital payment methods (USSD, AEPS, UPI, etc).

So far as rural India is concern village name "akodara" turns out to be India's first cashless village, where you don't need cash to buy a packet of salt or other groceries. A place where you don't need to stand in long lines to exchange your old currency notes at a bank, or queue outside an ATM to withdraw your own cash. Such examples make me feel that yes! we are all set to go for cashless.

Here the main advantage by cashless payments is easy and simple to pay bills, by this we can save time and transportation charges. And the main disadvantage is in India most of the people are from rural areas and illiterature they don't know how to use the digital transactions.

Whatever this is the great initiated by the NDA government for the development of Indian economy and development of the Indian county.

Hello, people. Digital payments have some good Advantages and disadvantages both are in need to be Balanced by the Indian government. Digital payments are just now to people mind late 2010 onwards. This way if payments help lots of people to save time for paying bills for the electricity bill, phone bills, etc. Without stands hours together in queue. Now it has made simple. On other hand, people have some difficulties in go cashless because they need amounts for emergency purpose, for paying roadside vendors. Moreover, illiterate ppl are facing very hard to come into this digital life. They are not actually exposed to it.

Thus I conclude that this type of technology improvement may be benefited for only upper-level people, not the lower lever ppl.

Every coin has 2 sides, the same way digital payments are good to some extent but also have some disadvantages which should be overcome for a cashless country.

1. India is a developing country, so moving to a cashless country can be a very big step in development.

2. As we know the population of India is very vast threats such as robbery can be reduced in a cashless country.

3. For transactions we don't need to meet the respective person or carry so much cash, we can transfer the required amount anytime and from anywhere.

4. Now the other side of this is also that in our country there is a huge population who are illiterate and cannot use smartphones, this can create problems for rural people.

5. But to overcome this government can spread awareness, help people by regulating various schemes.

6. At least this step of cashless country will open many people to the technology.

7. India has a huge population of youth so it ll be also a plua point as there will be difficulties in the start but these problems can be overcome.

8. Technology will increase so people will get educated, they will be aware of these things.

9. These transactions take place using internet, so government can start providing free internet access to rural areas which will automatically lead to people learning n exposing to technologies.

For a better outcome for future generations, such major steps are necessary for our country to become a developed country.

I think there are both pros and cons of this. The best part is that queues in bank will become shorter. Secondly, faster transactions are possible with the help of digital payments. It also prevents us of being robbed of our money by thieves but the main hindrance in this conversion from paper to digital currency will be the lack of awareness among people. This is due to lack of education especially in villages where people got to banks even for smaller transactions. Hacking is also a major hurdle in this conversion. If the confidential data is leaked it will lead to chaos in public.

So first right measures are to be taken to ensure cyber security and then conversion to digital-only can be done. This will not only help in developing Indian economy but would also make it transparent.

Yes, Digital India is ready to give the security in cashless payments. Because cashless IT (information technology) jobs are increase.