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

The payments done via VISA or MASTERCARD is secured but that are not India based companies that means we are sharing the details with the international countries. Thus if people use services from Indian authorization system such as RUPAYcards we can have our data secured from foreign countries.

India being a developing country has achieved so much since independence.

It has advanced in every field technology, medicine and what not.
But being the country with largest population in the world.
There are so many hindrances.
The illiteracy rate and poverty rate is still very high.
Going cashless means each and every person has to depend on digital payments.
The people on whom we are dependent so much. The sabziwalas, the kamwalis, guards, koodawalas, thela walas, rickshawalas and so many people. Who receive so little amount and number Of times will never be comfortable to switch to digital payments.

Even people in rural areas have no or very less knowledge about banking, internet and digital platforms.

India in 2018 has achieved 100% supply all over the country.

Such areas which have received electricity now will take few years to achieve full awareness and.

Such remote areas where we even don't have network connectivity.

Have impossibility to go digital.

Seeing this lack of awareness.

Such people can be easily manipulated and exploited.

The security of digital payments can be easily breached.

Although India has been successful in implementing secured payment gateways which protects us from malicious activities.

But out there are more knowledgeable hackers and fraudsters.

Who are doing the business of fraud.

By stealing the Pin numbers, credit/debit card details, Online password, one time passwords (OTPs).

By tracking and keeping log of your activities.

Through various malwares, viruses and cookies.

India has achieved what not, maybe in future it will be able to achieve 100% secured digital payments.

But at this moment it cannot switch completely to digital payments and go cashless.

The need of the hour is to spread more awareness and knowledge about technology and avoid scams and frauds.

Yes, digital payment is a good initiative towards the cashless economy it will reduce the manual workload and very helpful to reduce the crowd in the bank, The result will be that it not only reduce the manual workload but also helpful for the environment to save the tree. But there is small risk is that in India large population is not aware about the technology so we first we should to educate them about the technology.

Yes, I think it's fully secured and have certain benefits too :

1. Adapting these technology will surely make our nation increase our strength in global market.

2. People will surely adapt these kind of changes which leads to modernization of our country.

3. Reduce the risk of carrying a large amount of money.

4. Reduce any kind of risk in ATM crime.

5. Definitely people will rely on this technology soon.

I think digital payment is better option rather than use cash on hand as in India people are very clever In some SBI banks people noticed the pin number and then it leads to problem when something awkward happening in their account so if we use digital payment we are free from cyber eyes or robbers as digital payment method will also increase our country's economy even labour work will be reduced if everyone become knowledgeable of digital payment method then people can do additional work with do payments online, and transection will be few seconds people also doesn't get worried about whether the money goes or not as this problem occurs in offline payment.

In few countries the transaction is only done by the cashless mode but the literature count of that country is high too. In India, majority of people even think 10 times before using the ATM card because of the less awareness. So before thinking about the digital payment, the people should be trained and aware of all online payments so they will feel confident to use.

It's not secure until everyone has the proper knowledge about it, it will take time but it is a good initiative I think.

I think any payment has a risk some has less and some have high risk. If we talk about the digital payments then India is a developing country so it should try these type of things that would create more awareness about the technology to the other countries. It is not enough to secure but that was the starting if people work on this as a whole than only it will succeed to the country.

I believe this is our move towards civilization. Considering Nationwide, this process is an opportunity for us to grow for real. It can prepare us for better tomorrow. As per the security is concerned, please let me know if we are secured now? Each individual contributing in this cashless economy must understand key fundamentals, risks and preventions. Everyone must get educated about it.

Of course it reduces the risk of human to be afriad of carrying huge money with them.