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

According to me, digital payments are secure enough to Indian economy to go cashless as because in the modern technology era lots of antivirus protection software are installed in our mobile and personal computer system. We can easily do our transaction within a few seconds with 100% protection by hackers and we can do transaction from anywhere we want. Nowadays we have mobile banking and we can transfer money to any other bank account within a short period of time and also it is convenient to use. If we go cashless we could able to support our Indian economy and also it is benefit to raise value of our money. There is no wastage of paper and also no printing devices needed. I support the great courageous movement by our prime minister to go cashless and also to bring back the black money to our country. At last the need of the hours is to teach how to do digital payment and what are the benefits of digital payments to all those persons who are not aware about digital payments. In this way we can support our Indian economy.

There is a renowned proverb saying "A bird in the hand is better than two in the bush". Today we have zest and skill to make India a developed nation and 'digital India' is one such rung of the ladder which can shape this dream. We will not be able to find the solution of a problem until we encounter it, so what is actually needed is firm and strict laws against prudent hackers and cyber criminals and strong protection for data of each and every individual. We should have vigil eye on every payment and should nub the unauthorized person.

Digital India can make our country stand in the queue of powerful countries of the world. It helps in recognizing the genuine individual of the nation. Digital India will lead to less corruption and less middleman involvement. Even if we ignore all these advantages, digital India is saving our environment which is itself a huge applaudable condition for this burgeoning population.

So, I logically infer that we should unite to encourage this wonderful step, with a vigil eye on corrupted.

Digital payment is the platform for online transaction, as in today's world every one is busy and don't have time. Digital payment has more prominent after demonetisation. As people understand the importance of cashless transaction. It is very safe and can transfer any amount within second with proper security by OTP. It's very easy to use and record all the transaction properly, save time. Reduces corruption, RBI does not require to publish new notes, less robbery, During demonetisation we have to understand on long queue and many times we returned without money. But after demonetisation government has launched many apps such as BHIM, PAYTM, PHONE pe through which we can send any time. But is our country is ready for digital payment? Because 50%population is illiterate, no electricity in the remote area, many cases of pushing stop the way of the common man for digital payment. So, I can conclude here by saying its a very important, safe and easy platform but required more technical knowledge to the people to implement.

In my opinion, according to our current condition, India is not ready to go cashless. Because in digital world it need strong security. Security is main point to make an economy digital. Without tight security anyone can hack accounts. We need to develop technology for this. Another point is illiteracy. In our country many people are not aware about the digital payment. In rural areas there is lack of education so they people can`t aware about digital payment. Like everything has two aspects negative and positive. It has too. Digital payment will made easy cash transaction. Nobody needs to stand in queue for paying bill. In the fastgrowing world people are busy so this is the best way of payment. Cashless payment is our country`s need because India is a developing country. So government should implement many programmes and policy to aware the people about cashless payment mainly in rural area. And cybersecurity should also be developed. So that people have no fear to lost their money and India made a cashless country. .

Hi, I have read all the opinions of my friends as per them they are also true that if we are going to cashless so we have to face all the things benefits or take care from hacker or missuses. And in our life whatever we do or did we have to face two thing also its may be good or bad. So cashless is good for Indian economy to grow our economy but as well as its also a harmful for people by hackers. As per me it should be start in Indian completely because it will good for corruption and govt has each and every record of payment by which no one can make the black money. And for this govt has to improve our cyber security by which we can save our digital payment records and our money to hack the same. And one more thing for the poor, uneducated & uncivilized people govt has to be issued one system to understand or facilities to them by which they do have any issue for the same and they can use easily.

So in digital payment main roll is our govt how they can secure this if its completely secure than its good for all.

Hello, everyone.

Here we are discussing the security of the digital payments, whether it is good enough for our economy, In my opinion, the digital payment system is essential for a developing country like India. Related to its security I am using digital payment systems, till now I don't have any bad experience. But there are cases which arise in many parts of the country regarding the security fault. It is very shameful to a developing country like India. Just because of these reasons or incidents we cannot say digital payment is not apt for our country.

The world is growing day by day and we have to go with that fast growing world. I admit that in India there are illiterate people, those who don't have a bank account, but we the literates have to take care of them and try to make our country a fully developed one. For that digital payments will play a vital role. Cashless economy not only helps in over come corruption but will make our country to a developed one and place us one amongst the power full countries.

Hi friends,

From the above discussions, the following were the major disadvantages of offline payment:.

1. Corruption, which is the suffering of a common man. If you want to have your work done, you have to give extra expenses to corrupt officers.
2. Robbery.

Following were the major disadvantages of cashless payment:.
1. Rural Illiteracy.
2. Hacking.

According to my point of view, the issues of Rural Illiteracy, hacking and robbery can be solved up to some extent. Yes, steps of rural education for cashless payments can be initiated by the government. Measures for keeping the online money out of reach of hackers and robbers can be taken. But in the offline money, the extra bribe which we pay is divided into several parts and every concerned officer up to the extent of politician has a share in it. So it can't be undone so easily.

So, according to me, we must adopt for cashless payments. Measures for rural digital education and hacker security must be started. It will eventually lead to a corruption free India.

In my opinion, 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.

Hello everyone,

According to me, the cashless transition is quite safe there are zero % chances that your bank will relieve the transition details to anyone. Banks never ask for your debit card number or internet banking id or password so it's our duty to keep it safe although we have to change our password frequently and never share our otp with anyone at any cost. Govt of India has made Unified payment interface (UPI) , Bharat Interface for Money (BHIM) etc for better and faster transition. But it is true that we are lacking behind as more than 50% of your country population belongs to the rural area where they don't know about the cashless transition although govt of India has taken the Jan Dan Yojana, but most of the banks don't have money in their account so it will not be possible for them to do the transition. Unlike cashless transition there are chances that you may be robbed with your cash or the cash may be misplaced or even can be damaged to avoid such things its good to go for the cashless transition!

In my point of view, digital transaction is not secure enough. First I want to mention the meaning of the digitalisation, digitalisation means transaction without involvement of draft, cheque, and cash. One side where digital transaction makes our life fast and smooth, on the other side it makes poor, uneducated people into trouble. We all know most of the people of India are uneducated and even they don't know how to swipe the screen of touch screen mobile, then how we can accept that when they can go cashless. At the one side digitalisation increases economy, reduces paper printing at the same time digitalisation also increases unemployment because work are mainly technology and machine dependent. I think government should work on education growth and on unemployment firstly then digitalisation will take place automatically. If people will get a job then they can buy a Android phone and when they will be educated then they will know how to swipe screen correctly, and digital payment will be secure automatically.