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

Hello everyone.

As we all know, when Modi Government come into role Digital India is growing faster. As per my opinion, digital payments are secure for the Indian economy to go cashless. Now everyone can go out without carrying cash at any place. There are so many apps available for payment like paytm, mobikwik, online sites etc. And it is safe to use. In urban areas, most of the people are operating digital payment but in rural areas, people don't know how to operate digital payment. They have to explain about the cashless system and for this Government can arrange a campaign to educate them all about this. So they also know about its usefulness. India is developing the country as we give knowledge about this to rural areas people it is one step for our country to become a developed country. There is also reducing corruption because people don't need any of middleman for work done work are directly done by people and at actual rate.

Good mourning to all of you.

Nowadays, digital payment has been in a great demand as the Modi govt came into the rule and promote digital India by providing so many schemes and launch various campaign to promote digital payments. Digital payment means doing the transaction through a technology or doing the cashless transaction via machine "pos" apps like Paytm, BHIM, Mobikwik etc Digital payment is secure and ease mode of payment rather than carrying a large amount of cash, which can be pickpocketing robbery or snatching etc. Its very easy way to do transaction at any time and at any place where you want. Whereas we don't need to go bank for adding or withdrawing money due to this it can save our time as well as paper cost.

But the main problem is that 70% is agriculture Indian which doesn't know how to use and they don't want to indulge in any fraudulent or any spam. First of all digital payments is 10% safe and secure and do via trusted sites/pp. As rural peoples are not interested or indulge because of lack of knowledge and lack of awareness and illiteracy. Gov takes initiatives to launch various campaign and run policies that help rural peoples about these digital payments and educate about these benefits. This will lead to making our economy strong and developed India. We would go through a certain pain but this pain ensures a better future for sure.

Thank you.

I would like to say that, Digital transactions are more helpful for our country's growth when we consider the correct tax findings over each transaction when compared with the normal cash payments. But Considering the current situation of our country internet issues and methods the digital payments are vulnerable to attacks in many ways like spoofing, phishing etc.

Before go for cashless we should go for the methods to make the digital transactions safer than cash transactions by providing highly secure paths for servers authorized particularly for cash transactions. The another most important thing that we should consider before going cashless is that the illiterate peoples living in our villages will face problems over this. So we should ensure that we adopt methods for educating them before go for the entire cashless country as they are also our nationals and they have also had their own ways to live as we live in our wills and ways.

When we say Indian economy, it's imperative to understand that we are talking about the nation as a whole comprising people from all classes. There seems to be a huge hype about digitalization while overlooking urgencies and necessities that need to be properly addressed. I mean more 56% of our population is living in extreme poverty consequently followed by other classes and their consumption patterns. Internet Protocol Infrastructure is gonna take time to become predominant, first and foremost pressing matters need to be addressed, i.e. extreme poverty, malnutrition, unemployability and unemployment, illiteracy and power.

Because even if digitalization is made plausible, still a large proportion of citizens wouldn't be able to capitalize on that.

Coming to the question, just a few months ago we have been made aware that Chinese mobiles and UC Browser are retrieving our personal data, and also hacking is on large and for people that are not tech savvy and cautious are bound to find themselves in that predicament. It might already be happening. Hypothetically let's say 3 in every 5 PayTm transactions are being hacked and 50 paise are being deducted, who is even gonna bother to report and it can very well happen on a large scale.

In my opinion, we need to approach digitalization with caution making people aware of every mishap in every step of the way.

India is a developing country. Presently in India, people are illiterate. They don't know about what is happening in our country so suddenly if we will introduce this online transaction system then it will not make any change in their mind set they. Because according to them, the internet is just like a game which is used by children to spoil their future but they don't it's advantage and mainly about an online transaction. If aware camp will schedule in rural areas then only it will make difference. The Government has to decide one five year plan for this only so that all rural area people can take advantage of this facility. We also have to contribute one efforts to teach activities facility we have to tell this will save their time. Security from robbers and losing their money in crowdy areas this all cases will be reduced if they will learn this.

Hello everyone,

So, here is the topic are digital payments secure enough for the Indian economy to go cashless.

In my opinion, I think digital payments are a good idea for the growth of our country. As it saves time and easily and fastly we can do the transaction online. It is helpful for every educated people who use smartphones and worried about travelling with a huge cash.

Digital payments made us cashless but it is somehow not secured. As there are many hackers who can hack the passwords and pin and takes all money towards them and hack the account which is somehow one of the demerits of it.

Another demerit of digital payments is that rural areas people don't have any idea about how to operate smartphone even though they didn't have so much money to buy it there were mostly uneducated people so, they didn't make an online transaction they may face problems towards it.

So, firstly government should provide education or classes to poor rural people before making the Indian economy to go cashless.

In my opinion, digital payments are secure. Digital payments have made easier for us to go cashless. We don't have to carry money everywhere with us, so we don't have to worry about money being stolen. We can pay everywhere easily with one click and it is the most efficient and easiest mode of payment. On the other hand, the digital payment mode should be protected so that hackers and crackers do not steal our information. Morever, the people who are not aware of digital payments should be made aware of this mode of payment and how to use them. Slowly, our country will be a digital country.

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.

Cashless economy is must for India but not right now because it still needs improvisations regarding the security on internet. If you observe, recently we have warcry ramsomware attacts all over the globe. This shows the level of security on the internet. We can go by the digital amount only to some extent because hackers will be able to hack us while we are making the payments. Or by hacking our digital accounts. Since some people are new to this, they might face lot of problems to go by cashless. This requires lot of time and lot of improvisation to our internet. So it takes time to go by digital payments but only to a certain level.

Thank you.

According to me, digital payments in India are not secured yet. The recent ransom cyber attack which hacked many bank accounts is one of the questionable reason for digital India. Steps must be taken by our government for making the cashless transactions more secure.

Going cashless will be one of the biggest stepping stone towards the economical and financial growth of the country with decrement in corruption.

As 55% of the population still lives in rural area, making India 100% digitally cashless is a great challenge.

Nowadays everyone has a smartphone from a businessman to a vendor.

Steps must be taken by government to educate people in rural areas and making them aware about the advantages of going cashless. Free internet facilities must be provided to these areas.

Another problem faced is that of language. So the regional language facility must be included in the transactions.