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

Hello everyone,

From my point of view, the digital payment system in our country is secure. The transactions which are made are fully 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 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.

Hello friends,

In my point of view, digital payments is very secure as compared to other. India is not a devoloped country but it is a devoloping country. For a devoloping country this type of technology is needed. Today most of them chooses online transactions. But in the rural areas people don't know how to use this process. So this technology is mostly useful for the coming genrerations. As every coins has two sides so just on the basis of negative sides we cannot just torn out this process.

THANK YOU.

Hi everyone,

According to me, I agree with this statement. Because, we can go anywhere in the world without cash. But, think one thing that is in our economy there is illitarate people also. They don't know how to use these technology, also they don't know how to use a smart phone. So, firstly governmnent initiate to take first step to take awareness class to illitarate peoples.

So, other thing is digital payments is technological system we can access this with smart phones easily. We can purchase and buy things without payment of cash. It was very confidential with password.

THANK YOU.

Hello Everyone,

According to my opinion, everything has a merit and demerits. The good part with digital payments is that you can save time and also reduce black money. But the sad part with this digital payment is that online transactions may be risky as all people in India are not educated, mainly people from villages would face a lot of problems. So I would like to say that the government should create more awareness about these digital payments.

Hi everyone,

In my opinion, everything has its own pros and cons. A cashless economy is a very effective initiative in a developing country like India. Digital payment systems are more accurate, time-saving and gives security for our transactions. It is easy to do transactions at any time from any parts of the world.

As we all say a coin has two sides, digital payments hold some problems like illiteracy among the citizens, due to this lack of literacy many of them may not be able to access to the present e-payments systems. Many of our citizens are not aware of our digital service.

Hello friends,

In my opinion, digital payment helps to faster our transactions. But all the technology has its own pros and cons, modern digital technology helps to faster the transactions. But it cannot be sure that it is secure to enough. Another major disadvantage of this digital payment is it cannot be applicable in rural areas and villages. Online transactions are risky threat to not educated peoples, they will face the major problem as they unaware of smartphones and the modern technology. Most important advantage of the this sector fastest online payment system and we can save time. The government should take suitable steps to secure the online transaction. It is a suitable for the Indian economy to go for cashless. But we are aware about the threats and take steps to avoid them.

Hi Friends,

To discuss upon the matter of digital payment, it is the process of carrying out payments in an elecronic manner.

Digital payment is a high requirement in the present world. It facilitate us to make our transaction with a gentle tap on your device. It help us make our payment, recharges, shopping, etc done in a quicker manner. It saves a lot of time. We will no more require to stand in long queues. Apart from that, one will be able to transfer funds irrespective of location. Debit card, mobile banking, Paytm wallets are some of the examples for digital paymnets. Inordrer to make digital payment more attractive popular e-wallets provide us with multiple number of offers such as cashback, coupons, first time free payment and so on. The digital payment is made secured with captcha code and otp.

Just like everything got it's own merits and demerits digital payment has got it cons too. Digital payment is not fully secure even though it has security provisions. Living in the world of hackers, it is highly dangerous. They can peep into our personal life. More than that India is only a developing nation. Not everyone has access to digital banking system.

To conclude I would like to say that with proper development in banking sector in all areas of nation and educating people about digital payment will help them make their work easy. Using of approved banking apps help reduce security breach to an extent.

Thank You.

Hai friends.

The digital payment system idea is very good. And very safety and secure system. But our Nation is developing nation the all areas not develop only metro cities and town and cities are only applicable the system. The rural area and middle towns are not Internet connection and proper electricity service not provide. The only cites used.

My conclusion is digital payment system is very super and secure. And Essy to payment and transaction steps.

Thank friends.

Hello Everyone,

Being a cashless economy is not very easy task for a developing country like India, but also it not an impossible thing. Everything is possible if we take it in the good sense. But before being into a cashless economy we should know in detail about both the sides of it. Firstly, it should be benefited by every lazyman, for that it should be made aware with every person. He/she should made aware of the advantages of being into a cashless economy. The main advantages of being into a cashless economy is safety of cash. It ensures safety of cash and every one can be tension free. Another advantage is that it is an easy process and also time saving. Besides these there are some disadvantages the main is that lack of knowledge. Everyone in India is not well educated so they are reluctant to make payments digitally. To avoid this problem the only way is to educate them.

In my opinion, now most of the people are using digital payment mode as it is easy to use. In every thing there is merits and demerits to an extend it is safe to use as there are many gateways for the security and if any problem we can consult the concern authority.

Thank you.