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

But in A country like India, many complications would make this task a bit more difficult. In India, a large part of the population has been living in rural areas. Some of them are illiterate, Who haven't a single idea of Digital transactions. They strongly believe in liquor currency along with this they are not fully aware of Digital payments. This knowledge lack ness causes them in trouble. They might never accept this digital transition. They need to be aware by govt towards Digital Transitions. Because they would easily be trapped by Frauds.

It's very easy for hackers or Frauds to get Bank details of these illiterate people. So, govt and concerned authorities should arrange some educational programs in Rural areas in order to spread more awareness or knowledge to people about Online transactions.

Yes, first of all, cashless transactions are very beneficial to all, no need to go to the bank and wait. It can transact easily from one to another. It can save time, energy & paper. Less denomination also transferred. Above all are only for educated people. Uneducated people don't know about ATMs & mobile transactions, it can be hacked by many strangers. So, digital payments are not secured for uneducated people.

Hello everybody,

Irrespective of what we have to say, the reality is that digital payments in India have shot up 90% in the last two years, we have left China behind with respective to the number of digital transactions taking place in our country. We are expected to reach 1 trillion USD worth payments by 2026. All this has been made possible by increased awareness of general public through consistent governmental schemes, cheap internet connections along with easy access to mobile phones.

However, we have to keep in mind that we are dealing with 1. 3 billion people here and every good reform needs to come with certain precautions. Privacy concerns have become very prevalent these days along with numerous other Cyber crimes. It is important to educate masses about the various threats they might face and steps they have to take to in order to ensure they can safely utilise online mode of transactions.

Yes, I agree that digital payments made our life easier, but only if we are digitally literate. We can see, that India's digital literacy rate is around 40%. What about the remaining 60% population? In my opinion, before adopting the cashless economy, we should focus more on the digital literacy rate of India.

A cashless economy will be only beneficial if the maximum population will be aware of the safety norms and can guard themselves against online frauds.

Yes, of course. because digital payment makes quite a transparency in a digital way and makes a digital India.

Yes, you are all right.

But as I experienced many small shops or vegetable, and fruit vendors especially from the village side they don't have any UPI facilities unlike us they don't even want to go totally cashless and sometimes it gets difficult to go totally cashless in India.

Yes, I Agree, the digital payment is secure because nowadays black money is more in India all are using digital payment. Black money will come out.

I agree with this when it comes to literate people who can easily use the digital system because it is good for Indian economic growth but when it comes to illiterate people then It might be risky because of the increasing percentage of cyber crimes nowadays. So I conclude, a cashless system is good for those who have knowledge about this.

Yes, as our finance minister MRS Sita Raman said that India will have the centralize digital rupee which is now in pilot mode so digital payment become more secure due to this.

Yes, I think digital payment is one the relevant process of payment its always be a time and place flexible.

But we should also think about the others who don't have an idea about the digital payment.