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

Yes, digital paymet is very useful for people in India because we can control the coruption and make India as smart technology.

I agree with all but I have added some points.

It's good that we 1 step ahead towards digital payment. Which is very useful in this century as we are developing. But I found that so many people don't know about digital payment due to literacy. Specially in rural area. So we have to create awareness regarding digital payments in local language. So no one will cheat them. Also, we look into digital security as its safe in India so we have taken strict action cyber crime & theft.

Digital payment is very important now but it is not possible to every one person because in India near about 70% people from rural area, they have no idea about how to handle.

Android mobile, online transaction. So government have to take care uneducated people with the help of guide camp then digital payment will secure.

Greetings everyone,

Talking about digital payments and digital economy.

The long goal of digitalisation of markets in India can be achieved only when merchants and day-to-day users will be aware of the working concept of digital payments.

Talking about the security feature of these payment systems, every payment in digital world is secure but till a extent. Since we are talking about computers we must tell be knowing about algorithms.

All algorithms are not always secure. Every algorithm has its flaws.

So, if we need to view India as a digital economy,

We must educate peoples and third- party app developers about VPNs (Virtual Private Networks) and cookies to secure each transaction at such a great extent that hackers might not collect much data about the attacker.

If we succeed in achieving this, we can easily imagine India as a digital economy as Kenya and other countries.

In my opinion following steps must be followed to ensure that no fraud takes place. :-.

1) Educate everyone about digital transactions and their benefits.

2) Give them the knowledge of VPNs such as how they secure each transaction.

3) Promoters of digital payments must create a network in each city and town to help peoples regarding this.

4) Greed the merchants and customers by telling them about cashback schemes on digital payments so that more and more peoples participate in this.

5) The biggest change is 'ME'. Develop this feeling in everyone.

Hello, friends.

According to my point of view, MP Modi has taken a great step towards development of India these will help to recover black money.

Yes, digital payments very useful to overcome corruption rate and thefts and moreover people can easily do transactions within short time no transportation cost. To become cashless country it takes more time because of more illiterate people in India who even doesn't know how to deal with mobile phone and updated technology government should take initiative or do campaign about digital payments process government should give awareness how to make payments these will be a great step towards for the development of India and cashless country.

As many people said hacking will be a threat to digital payments my suggestion is to overcome hacking and robbery individual mindset should be changed unless a person with negative attitude development of country is not possible. Every person should have positive behaviour towards the development of nation.

Hi friends,

My name is Nivetha, now I am going to discuss are digital payments secure enough for the Indian economy to go Cashless it takes more to become cashless India because of Illiteracy. In villages even they don't anything about mobile phones and internet connection even if they know about internet connection speed of net is very less but cost is very high.

Greetings to everyone,

After demonetisation, people are using digital platforms for payments. I appreciate the government steps to boost up digital payments for cashless economy. And this will continue India will be a fully digital economy very soon. But for now, still people do not believe in digital payments. They don't consider it as safe and secure payments. So first of all, the mindset of people are to be changed. Second, in the ruler areas where interest connectivity is major issue and people are not aware of the digital payments. So, WE and Government if both work together then India will become digital economy very soon.

It is good start towards modernization. It will be helpfull to reduce corruption in country. In India, max. Population is belongs to ruler area, they are unable to afford smart phone, this will be inconvenience for illiterate people. To overcome on Such situation Government should take strong steps like complain about digital payment and to make people confident about its security.

Hello friends.

According to my point of view, digital payment is not secure enough to go cashless. There are many sectors where people face problem first Indian government have to work on those sectors then go fully cashless. Like.

1- Indian government first educate those people about online transaction who lived in village and don't know the even if how to operate android phone.

2- And second problem is that network issues, in India people face network problem even if in outer of big cities. Now people using 4G network but there are number of villages in India where even if 2G network are not available and there are no. Of villages where electricity is not available. First govt. Have to work on this sector make available of network and electricity.

3- Like PAYTM, Freecharge and other online transcition apps during transction server problem occur and many times balance has deducted from the account and payment failed message shown during transaction first govt. Make plans to overcome this type of server problem.

4- There are 70% of Indian people live in rural areas where people do not know the use of simpl ATMs so that first govt. Make plan to aware those people about online transc. By campgin.

We are the youngesters of our country and we should help those people who do not know about the online transc. Because if Indian economy become digital then 90% of corruption washout from the Indian economy and this will help to increase the GDP of our country. We should support our PM Narendra Modi to make our country digitilize and help atleast 10 people by giving them knowledge about digital payment.

Yes. Digital payments are secure enough for the Indian economy to go cashless.

Keeping in mind the competition between banks to proliferate its customer, they provide many banking facilities. One of them is digital banking which includes internet banking, Debit/Credit card, wallet or banking apps, USSD and Aadhar payment system (upcoming). These all are very secure.

For online transaction using internet banking, it has to go through various steps verification like security questions' answer, transaction password and OTP (sent to RMN With bank Account). This makes the digital payments resoundingly secure.

For payments using Debit/credit card also one has to produce 16 digit card number, expiry date of the card, name of the card holder, CVV (3 digit card verification value) number and One-time password or ATM pin.

But Debit/Credit card payments are not much secure when one lose the card and if the founder knows the pin he can make purchases by swapping with merchants. To fend off this problem banks provide blocking of the card at a phone call distance.

Mobile apps and wallets are also secure because one has to provide login pin and UPI/transaction pin to complete digital payments. Such apps also provide QR code to get the details of the payee at the ease of scanning to assuage the input of wrong details while filling the details of the payee.

Digital payments are secure also because it sends you the transaction details immediately on the mobile through texts and to emails preventing the misconceptions between two parties.