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

Talking about cashless by digital payment is enough for making in India economy digital, I really don't think so. The country advised the people to use a toilet instead of going outside and we are trying to directly, it's not possible. The main problems are:

1:- As we know that in our country India about 60% are based on an agriculture sector and only 40% of the people of India is in the non-agriculture sectors.

2:- lot of people are unable to handle the cell phone completely. The Problem in understanding the function of it and how to use it.

3:- The biggest problem is the ATM which we use today. Microsoft which build the software used in the ATM machine, windows XP is used in the ATM which we use now but the software is out of security update because windows have stop the upgrade in 2007. They created a new software on Linux based software which is not easy to hack. Upgrading one ATM cost Rs 2.7 L.

4:- Government is imposing heavy tax on the ATM transaction. To make digital India plan suc cessful government should remove the transaction tax.

Hello friends,

In my opinion, digital payments are secure enough for the Indian economy to go cashless. In order to become one of the developed nation, India should adopt digitization in almost all the fields. Digital payment methods are secure enough to make the payments and it provides safety to the money that is being kept in the accounts. With the advent of these technologies, there is no need for carrying money in large bags. This itself reduces robbery and thefts to a great extent. Moreover, the digital payment methods are convenient to use, 24/7 availability, user-friendly, and also it saves time and money. Yes, that's right my friends a meager percentage of population are illiterate and even don't have smart phones. We can find a solution to this problem by introducing various schemes that are beneficial for poor people in India. And If we go cashless it will definitely save our environment from a big crisis, that currencies are made using the pulp of the trees. If we opt digital payment methods we can save our earth by preserving trees.

In my point of view, India is not ready to go 100% cashless because of the undeniable facts like poverty in some part of our country and also uneducated people lack awareness among them. They actually don't know how to use the servies and their terms and conditions. According to the report of the Qualcomm which is one of the American chip maker company, there is no Indian e-wallet company is providing hardware lever security which is a key factor of cyber theft. There is also a network and bank server issue in some region of our country. Although as we see from 2005 to 2019 there is tremendous increase in digitalization digital payment is nowadays is easy and fastest mode of transaction it kept all the end to end information of data whatever is send is received or not but we can't deny the fact that it is mostly applicable in urban areas where people are educated and aware not for the people who struggle hard to survive their daily life.

Yes, digital payment is safe nowadays but India can't go 100% cashless because of its rigid undeniable facts.

Hi everyone,

Firstly, I would like to say thanks to our Honourable PM Narendra Modi sir, to Started and taken action to make Digital and cashless out our India, from my point of view, it will be really, Helpful to our economy in future, it is difficult to understand, it in starting. People should know about this action because, It will Upgrade our economic system, our country market will also be like a foreign country.

People should know profitable things about it.

1] No cyber crime.
2] No need to go bank, you can handle your account, At your home,
3] All transactions will be transparent.
4] No need to maintain Cash In Your wallet.
5] Can Purchase daily need of utilities by, Card swiping.
6] No fear of robbery.
7] one of the most important point is -"Automatic tax payable system".

This Action Taken by our government is tremendous, ' But in present people should know and learn about it, How it will be helpful for them! What ever We start anything In our life, we have To face many conflicts, but in last, we will Get better results.

Thank you.

Hello friends,

According to my point of view, India is a fast growing country and digitalisation is a good idea for the Indian economy. It has a lot of benefits like we not have to go bank for any kind of money transaction so it saves our time. We do not have to carry money. A Lot of papers are used to make money so in cashless India, we save papers so our environment also gets benefits to it. Most of it when we use this technology, the Indian government can properly observe tax payers, corruption, black money, fake money are reduce gradually.

But the problem is India has a lot of population illiterate, they are not familiar with this kind of technologies, basically, they scare to this system so Indian government Take a step to educate them first.

I think that Indian online system is not fully protected or secure because lot of cyber crime, cyber hacking are happening so government Should take initiative to make strong online system.

If those problems are solved then India is ready to go cashless and it' also improves economy a lot.

Thanks.

As per my views, over this it is a very good decision taken by our Government. Now its our duty to make our India digital as many peoples said that it cause a huge effect on rural areas but guys there is a solution for it. As nowadays we see on railway station there is one machine like ATM which is used for taking ticket it is a digital machine as we saw government gives some jobs for particular person to operate that machine and give tickets to the person who doesn't know how to operate it. There were several machines but on some machines, there are agents who help the person who doesn't know how to operate it. This kind of process also may be applied on digital transaction for which we have to make a company who serves such type of facility. And for the new generation, it is very common to do such type of transactions. As the time passes away after some years it becomes common among all. So it is not a major issue for rural areas. One more benefit of such type of facility is that most of the unemployed get employment for such type of services.

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.

Yes, digital payments are more secure than the traditional method in our Indian economy to go to cashless. Digital payments play a very important role in making cashless India. We payment money in every place through the internet within a fraction of a second. We don't have to carry money from one place to others. If I am carrying 5 lakhs rupees in cash then I have a fear in my mind that if anyone deprived the money etc but if I pay online I don't have that kind of fear. Yes in our India the people are not very expert in the digital system but they all are trying to pay digitally they also trying to know the process and they are getting aware. How we safe or protect our cash from fraud people like this we also can protect our digital money from the hackers or other people. Digital process is more secure because every time when payments we get an OTP in our mobile number if we use the password securely then anyone can't take money without our permission. So I suggest to everyone to use digital payments securely and make an effective tradition.

Advantages:

Digital payment makes the world cashless. As we cannot keep a huge amount of money with us all the time so.

It provides the means to keep a large amount of money.

Secondly, As we all know that the TIME IS MONEY, so it also saves our time and we make the payments in no time.

Thirdly, It is available 24*7 and globally.

Disadvantages:

Digital Payments are secure but the threats are more as compare to security.

As today world is full of technology and software that proves to be threat to the security. With the concept of Artificial Intelligence and Machine Learning the things are changing form impossible to possible. And this gives birth to the cybercrime.

And now a days when it comes to money I think nothing is more important than that. In India although the digital payments are made secure to very much extent still we listen to the cases of cybercrime that leads all of us to think once again on our security locks.

And we cannot go to completely cashless also because during emergency period we cannot trust on the technology.

Digital payments, in a long run will probably make India a country free of corruption but let us not overlook the fact that not all the modes of digital payments are secure enough yet. It is not hidden that many of the mobile wallets have been hacked already. This prove that we still have to work on the software development for digital payment to make it free of loopholes so that it cannot be easily attacked by the black hatters. If this is done then Digital payments are surely going to make India a place without liquid cash.

Now, talking about the e-wallets reaching the rural and under developed areas, smartphones these days are not far beyond the reach of the common masses also the government is trying its best to make people aware and understand the need of going cashless. The educated and aware youth have also taken initiatives to make the rural and remote area people aware.

Summing up, the efforts are from all the sides to make India a better place to live in, free of corruption and from a developing country to a developed country.