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

Good evening friends,

Now the given topic is: "Are the digital payments secure enough for the Indian economy to go cashless". These days every thing is going in digital form, we may get a situation to pay money. At once what we can do, nobody will help you, particularly in financial aspects. Hence there is no need of carrying money in all the situations like a smart phone. Nowadays every individual is having a smartphone so if you are carrying a smartphone, it could mean you are carrying all the belongings related to you. Where ever you are? Whatever you are doing is not necessary. You can comfortably pay the bill or transfer money easily with secure payment through online banking and net banking.

As this method is completely based upon our profile. We should not share our personals with anyone that is the main drawback for these online payments and net banking. Cashless payments provide high security for the users. If we follow the right way then we can make our India as a "Digital India" & also it is the time-saving process, we no need to count the money. Every coin is important because we are earning it so it is responsible to know how to spend the money. For suppose if we are paying the amount by cash, We may not have the chance of getting the remaining amount but if you go through the online payment method where we can get the remaining amount back.

Hello, I'm Jaya.

According to me, digital payments are secure for the Indian economy because nowadays we are using them enormously it's beneficial to us.

A person should have minimum knowledge to use this unless it is somewhat insecure. We are using many types of apps for digital payments like Google pay ph pay I think these are very useful and also time reducing and sometimes we are getting rewards through these apps. If we have any problem with the transaction the money will be debited within hours.

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.

Good morning. According to my opinion, digital payments are secure enough for Indian economy but before that, the necessary step should be the ending of unemployment and illiteracy because many of the places in India are far away from literacy and employment. So if they become literate and employed the dream of cashless India would be fulfilled easily and fastly.

Hello friends. There is no doubt to say that digital payments are secure enough for the Indian economy to go cashless. This is going to be so helpful in future. We can make any transaction at any time, and the account holder have all the updates about his account transaction. It also protects our nation from the corruption because all records get saved in database i.e. the information about the receiver and the sender is already verified. I want to say one thing that India's literacy rate is at 74.04%. So what about those who are not literate, they do not have any idea about Digitalization and even can't use the Smartphones. Then can ask for help but there is no security in that case. So if we want to make our country purely cashless just like Canada, US etc, we to remove illiteracy and poverty too from India. Thanks.

I think as of now it's no. We know cash to cashless is essential for the Indian economy to set the standard but in concern with the percentage of illiteracy in our country it's not secure And not everyone using a smartphone, even educated people are making mistakes by sharing OTP number and responding pop up messages.

From my prospective, digital payments are safe in India today. Everything has become so easier and safe these day whether you talk about paying fee, mobile bills, electricity bill or ordering something. The various apps and digital transaction sites are secured enough to prevent from any hacking attack. There are atleast 2-3 security level like your passwords, otp etc before any transaction is made. So, I would say the person doing digital payments should be well aware of fraud calls, messages etc and not to share any security information like password, OTP etc. Otherwise, the banks and other digital wallets are providing us with enough security to make easier and safe transactions from our home.

No, I think digital payments are not secured because we are living in an era where all the countries are being forward to us in cyber security. If it is possible for a hacker to hack the NASA database than it would be pebbles for him to reach to our bank accounts, also in our country people are not so active on cyber that they can protect themselves from this threat. From my point of view when cyber payments are executing in our country it should be highly protected by Indian government Through their cyber cell. So that we can go cashless one day.

Good Evening all of you.

I personally feel that the next big revolution coming in our country is Digitalisation and its benefits. Keeping your hard earned money safe is one of the most challenging thing in today's world. There are so many loopholes through which our moeny isn't secure and to make it secure digitalsation needs to take place. Keeping transactions digital is not only our need but it is the backbone of our government to make the economy stronger day by day. Earlier governments used to launch so many schemes for people below poverty line, for senior citizens and for other backward classes but the whole amount kept for these communities never used to reach them completely and there corruption came into picture. With the current government we have realised that a very big amount of our Indian economy was going in vain and because of which there was one parallel economy came into picture which was run by fraudulants and corrupted bureaucrats. To elimniate this Demonitisation took place and we all saw how much corruption rooted out. At the same time present government also introduced Aadhar identifcation which helped poor people to create their bank accounts for 0 balance. This just didn't help in making the banking system stronger but it is also helping our government to keep track of all the money being used for specific purposes. Now all the money released by government is directly transfered to the accounts of needy people and help it keeps the whole process away from corruption. This one change has benifitted a lot to poor people. Also with demonitisation we have understood that doing digital transactions is very easy and secure rather than carry physical money. Event like demonitisan has resulted in cashless villages and cashless townships across India which is a positive sign towards change. Also not leaving behind technology and smartphone, our current generation and previous generations are learning faster to secure their money. With time we definitely need to make our whole system secure and I believe that is where IT companies "the backbone of Indian economy" are working day and night to build the digital transations safe and secure. I would like to that say the change is taking place in every corner of the country but it will take some more time for a nation like India where lots of parameters like Poverty, Illliteracy and Old traditions are rooted deep well within our veins. We are the world's fastest developing economy and we have always welcomed Revolutions. This shift will bring lots of change in the life of an ordinary man having his hard earned money safe and secure.

Hello everyone,

According to my opinion, there are the digitalization of economy is necessary for stopping all the mischiefs done by the people whether they are from public or political parties. Digital payment gives more security to the Indian economy and helps to the public.