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

In my opinion, digital payments are not 100% secure for the Indian economy to go cashless India being a developing country but still, there is a lack of technology. Moreover, there are so many hackers who hacked credit card details of an individual and there is a need of education in our country because uneducated people don't know the process of digital payments. As govt of India introduced UPI and BHIM digital platforms for security purpose but due to lack of awareness in our country digital payments are not secure enough to go cashless.

Hello everyone.

In the current technological era, the world is welcoming the new and innovative concept of making payments i.e. Digital payments. More and more people are embracing digital payments across the globe. In India, with the extant government great focus on digital India and making the country a cashless economy, millions of people are now entering into the digital payments arena. There are so many people who are making payments via Net-banking and mobile banking for the first time even they have been maintaining their bank accounts since years.

The digital payments are safe and secure if the people follow all the rules and guidelines. The people tend to ignore some small points mentioned in the guidelines which creates space for breach of security for the digital payments. All the payment banks, the wallet owners, mobile banking apps manufacturers keep researching to make the payments secure. So it is necessary that the people upgrade all these apps time to time. There is no need of panicking if the people remain alert while making these payment.

From my point of view, the digital payment is secure enough if you are not sharing details. As for payment you have to enter the OTP that shared by SMS or your ATM PIN number, which is secure enough. You does not need to carry cash. But one problem is that if you save you banking password in your mobile is dangerous. Other ways it is safer than cash and saving your valuable time also.

Good Morning everyone.

From my point of view, I think it's almost secure to do online payments. As govt of India is doing maximum possible activities to make the digital payments secure. And digital payments provide a wide opportunities to the Indian customers. As it gives a wide platform for the buyers and sellers in Indian market to do business.

It enhanced the Indian markets to next-generation marketing and selling activities. While we make a payment we can understand that how safe is the payment platforms. As it is processed through 3D payment gateways. And for online trading activities SEBI keeps an check on every transaction. But we should consider that every law has a loophole. Even the most secured American gateways are being hacked. Thus we should also keep an safety from side without exposing the passwords. Thus I conclude that, Indian digital payment platforms are secure and also have a vital role in the development of Indian economy.

Good Evening all,

My opinion is digital payments help us in many ways by using various different modes of payments. Basically, it is secure and unsecure also because most of the uneducated people don't know how to use this type of digital payments and they have to face a lot of problems and it hacks details. The people may forget the passwords. And most of the people use different apps for making payments but it is not secure for the people it will lead to create many problems. It is not secure to use certain accounts in the economy because the number of the hackers are increasing. Digital payment is secure and unsecure also.

Hello friends,

As India is considered as a developing country, the use of digital payments is an important factor. Actually I think digital payments are secured enough unless we share our private details. Most of the people are unaware of this usage, so they feel unsecured. In this present senerio through digital payments one can easily access money.

I would like to conclude that all digital payments are secure and our economy would meet them in future, that is cashless INDIA.

Hello everyone,

From my point of view, the digital payment system in our country is secure. The transactions which are made are full encrypted. The details of the transaction is fully encrypted where there is less chance for the details to be hacked. The OTP which is sent to our mobile phones is valid only for a couple of minutes. Therefore it is safe to pay bills through online payments. However, if the payee is not aware of online transaction it might lead to many problems. Even if the transaction is not complete and the amount got debited from the account it will be credited within 3 working days.

In my viewpoint, the digital payments in India is secure enough. The government of India is bringing the best technologies to make the economy cashless. Bank to bank transfers are reliable, secure and fast. The government of India has made payment platforms like UPI and BHIM which are 100% secure.

Good Afternoon friends,

In my view point, for each and every development there is prons as well as cons. As we know INDIA is developing country, thus we need to adopt new technologies and developments. Therefore in my view point in this present stage digital payment is not secure enough for our country due to lack of technology as well as lack of education.

But I'm sure that in future if our country give education as well as improvement in technology it will be secure enough for the Indian Economy to go cashless.

Good Afternoon friends,

I totally believe that country like India is still developing with its improved technology and other latest innovations, but some kind of a development that makes the digital payments secure to go cashless economy is somewhat convincing for everyone.

It has its own advantages and disadvantages. Its necessary for the Indian economy to make digital payments more easy and convincing. It makes a person to make digital transactions possible and is very less time consuming. A person doesn't have to go to physical place spending their precious time. At the same time, it is somewhat not a secure system for making payments as it can misuse a person through hacking and stealing money. People use others password number and they can reach through our account and makes a persons life miserable. We totally can't depend on this for carrying out our activities. This system is totally ineffective for a person who is uneducated and for those places where it is backward in almost all sectors. So this is latest technological development as technology has got its own benefits and harms, digital transaction to make India go cashless is a boon as well as bane.