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

First of all, as all things, everything has two aspects there is some advantages as well as some disadvantages. So I would start with some advantages yes it is true that the digital payment is secure and safe, as day by day increment in technology we have to go with it to make better and fast life schedule. Digital payment makse fast access to own money like online transaction, paytm, debit and credit card by online, etc by which we don't have a problem of change money or even fake note or rough note. The digital payment also gives paying detail or transaction to the seller or consumer by which money corruption will we stop.

By Digital payment we are secure from snatching, robbery, thiefting, black marketing, long queues.

Some disadvantages are digital payment is not possible in everyplace specially in Rural Areas. Some problems hacking of accounts and some time stucking of money during online transaction.

Overall digital payment really changes money access in India. Now we have Bank in our pocket not only limited notes.

Thank you.

Yes, according to my point of view, digital payments are more secure than our casual payment.

We all are well aware that each and everything has two faces first are an advantage and the second one is a disadvantage. Show in case of digital payment there is there are also advantage and disadvantage.

Advantages:

Digital payments save our time and are an effective way for our transaction.

We need not to carry heavy cash pockets and move here and there for buying or shopping.

By using digital payments that transaction is transparent and there are fewer chances of corruption.

We need not to stand in line for our payment for electric bills water supply bills or any other things. We can transfer money by just a single click.

Disadvantages:

India is a developing country and most of our population is rural based so people are not aware of the use of digital payments.

Secondly, they do not have means to do digital payment like they do not have an internet connection or any smartphone.

Digital payments are good but there are some treats involving in IT such as our account can be hacked which leads to Cybercrime.

All in all, we can see that a digital payment is having more advantages than disadvantages so we should go for Digital payment and go cashless.

The so called 'developing' India will soon be 'well developed' in each and every sector irrespective of region, economy, administration, education and so on if the government Introduce and implement new policies like complete digitalisation. It's a fact that the people especially ruralites will face genuine problems for the first few months like lack of knowledge of operating online payments, lack of gadgets, treat from hackers etc. But these problems can easily be removed by the authorities through awareness programs, distribution of electronic equipments, strengthening of technological sector etc.

Compared to the disadvantages, the programme has more advantages. The method is easy, quick, transparent, and not at all time consuming. There is no need to stand in long queues. We can have record of our transactions. In fact, the rate robbery can be reduced and will be an obstacle for corruption leading the country to more clean in every aspects. IT sector is the one field which is going to gain more benefits from this as employment opportunities will rise into huge number.

More employment opportunities will be created as govt needs more departments and professionals for giving awareness to illiterates regarding the process of online transactions. 24/7 availability of online deposits and transactions are the another feature of this programme. Trade and commerce will gain more profit leading to a revolution in the sector. The rural people will get to know about this modern techniques and this will make a complete transformation in these areas and literacy rate will go up though it takes little time. This 'transparent' system also helps us to track our transactions and queries can be made if there occur any delay or other difficulties.

So, the policy of introducing a cashless India is really a feather to the cap of govt as the country will be more developed in every spheres and will definitely a boon to the future citizens of the country.

Hello everyone.

Firstly, digital payment is a way of payment in which all the transactions are done online. There are many different types of digital payments like transactions through credit cards, debit cards, upi apps, e-wallets etc.

In this modern fast-growing world digital payments are very useful.

1. As the payments are made easy and convenient.

2. You can pay from anywhere anytime using e-wallets.

3. Govt has also announced many discounts on digital payments.

4. They are having less risk if we use them wisely.

Every coin has 2 sides so as digital payments. Despite advantages, it also has few drawbacks.

1. Lack of security standards. There is a big risk of data theft. Hackers can hack our info and steal money from our accounts.

2. As these digital payment modes are based on mobile phone, internet, cards- using which will be difficult for farmers, workers etc.

Apart from all, these adv and disadvantages, we aren't completely ready to go cashless but we are on the way.

By improving the security standards, by making ppl aware of the proper usage and precautions to be taken we can definitely hope for a better world where no hacking and phishing would be a glitch for India to go completely digital.

Recently, we are familiar with a word "digital payments". Let us 1st understand what actually means it. Digital payment is a kind of payment in which we can make payment by using debit cards, credit cards. We can also make payments through online transactions with the help of different applications. It is an easy process to make payments digitally. After demonetization, the use of digital payment has increased. These systems provide enough security to go cashless. But there are many drawbacks. In India, there are many people who cannot afford to buy smartphones. There are so many people who cannot get the education facilities. Also, some people are not enough serious while using debit cards. Due to this, some dishonest people hack their account and steal their hard earned money. Be a citizen of India we should have some duties for our country. We should create some campaigns and make awareness to people that how to make payments digitally. Making India digital is a very good idea. But without proper infrastructure, it will destroy our economy.

Hello good afternoon everyone.

I am in favour of the topic. Digital payment is very secure and easy for the transaction of money.

It saves ous time.

It is also a step of digitalization for our country.

We also can save our money from the theft.

And we are able to check the bank balance at any time and anywhere just with the help of our mobile phones it is really making our life easy because the transaction of money is important for everyone life.

We should accept the system of digitalization.

It also resolves the problem of change because when we are going to any shop there is a lack of changes should the shopkeeper forcefully give some other thing in the exchange of money.

As we all know that we have to change something in the system like awareness the people who are not educated how they got to know to use of digitalization. Supporting to us what are the main things should have to be changed.

There are some basic suggestion for me to changing the system of the things which make us easier to all the people for transaction money as digitalised.

First of all the app developers design the easiest pattern for the transaction also give the facility of language like in Hindi or maybe audio by which uneducated person also can understand how we can transaction the money with the help of our mobile phone.

My second opinion is that the government should do some door to door campaign and advertisement in the television audio advertisement in radio also by the help of newspaper articles drawings for how to transaction is easy. Because we all know that we the Indian people are very attracted to the things of television send you the product because of their advertisement in the television So, As the same process utilisation payment transaction should be used by the all people.

So, I conclude my points we should take the step of awareness by the help of television advertisement for the transaction and make our India economy to go cashless and one thing also I want to share everything has their pons and cons. I listen to someone says it is not secure because of the hackers so as the same if you take your money in the wallet also be not secure by the theft.

In my point of view, considering Indian geographic condition, India should not go with 100% cashless without educating the people about cashless payment. India is an agriculture based economy, where most of the people live in a rural area. In a rural area, they don't believe in online mode payment. There are two reasons either they don't know online mode payment or don't believe in the security of payment. India has a large population, as well as some area like UP, Bihar, Odisha and northeast state, have not a good network. I am not saying that cashless mode is wrong, it is very fast, less time consuming and provide 24-hour service as well as we should also keep in mind its side effect.

Good afternoon!

The topic we got is are digital payments secure enough for the Indian economy to go cashless. Before starting the discussion let us understand the meaning of cashless. Cashless is one in which all the transactions are done using cards or digital means. The physical transaction is minimum. In India nearly less than 5% of transaction happen digitally, however, the finance minister in 2016 budget speech talked about making India cashless society with the main aim to reduce corruption. I would like to say that every coin has two sides. Even this has two sides it has its own pros and cons.

Some pros are.

1) 1in 7 notes are fake which causes a -ve impact on the Indian economy by doing digital payments this can be avoided.

2) time spent near the atms can be reduced.

3) there will be greater efficiency in welfare programs as the fund will be directly transferred to the account of the recipient.

4) reduces cost operation at the atms.

Some cons are.

1) the main problem is that people are not aware especially senior citizens and rural people about what is happening in digital transaction due to this they fall in the trap call fraud where without knowingly they give there account no and lose their money.

Even educated people are falling in this trap.

2) availability of internet.

3) people don't have sufficient facilities to use electronic items.

Though the government is trying its best recently it introduced an app called Bhim where all transaction are made digital. It introduced mobile wallets apart from this it should also educate people about it so that they can use it through thy have launched jan dhan yojana but all are lying unopened. It might take time to go cashless bot it is nt impossible.

Hi friends,

In my opinion, demonetization is really a daring decision taken by our government. All of you said very well but I partially disagree with those who are against this. Actually, everything thing whatever we do has some good and some bad points, as it is said every coin has two faces. I agree that 60% of Indian people don't know how to do cashless transactions, but instead of criticising government decision if we will practice it we can definitely learn it as everybody knows practice makes a man perfect. Everybody want India to get developed but nobody is ready to change themselves. Even though we all know that the smallest viruses, bacteria etc also mutate itself continuously for continuing their existence.

Hello, I think digital payment is the best way to secure the economy and when the all transactions are digital so there is no stealing problem of money and it is easy to carry the cash card like debit, credit and smart card. And. It's beneficial for all people for payments against purchasing. One of the most important things is that the cashless transactions take some second for paying anytime. Our government trying to improve the condition of liquidity of cash. It's is away to achieve the modernity. Yes I m not saying that it's good for anywhere because there are so many people who didn't know about the cashless transactions and they all get the problem due to this type of environment and I also say that there are so many vendors they don't accept the digital money and yes there are so many problems arisen against the digital payment but I fully support to digital payment because it's fully secured because the whole system is working on SSL layer that is known as secure socket layer which provides the unbreakable security to the consumer and vendors to make digital payment. SSL layer makes a bridge between the gateway and user details that are so much secured.