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

Yes, I agree that going cashless is good for the Indian economy and they are making some try to make it by using digital payments. It reduces the black money. It also reduces our time. But it is not totally safe. So we have to improve security in digital payment and win the belief of customer that it's safe; speedy and best way to the transaction.

According to me, we must go cashless. Because it is secure and very easy to use. As we use many cashless transaction applications like Paytm, BHIM it is very easy to send money to others we do not have to carry cash with us but in India the literacy is less than other countries and people in India more prefer for cash instead of cashless transactions hence it will take some time to go cashless. In India yes it will take time to go completely cashless but we should tell people how to use it then only they will understand it and use it.

I am Trimbak.

I think that digital payment is not secure because there is more cyber hacker also money stealing from bank account is more dangerous than stealing from people.

Digital payments can be made more secure for the Indian economy if the government put some extra efforts like teaching rural and illiterate people about the e-wallets, especially its overall use. Yes, it is safe to some extent as there is no fear of pickpockets, corruption can be reduced, people do not require to carry their wallets with them all the time. Nowadays after the introduction of demonetisation, almost every retail shops have introduced paytm QR code in their shops for smooth supply of money. Fortunately, e-wallets like paytm, tez, bhim has saved the lives during the crisis of demonetisation as there was no medium of exchange throughout cash. RBI has made it mandatory for everyone to link their e-wallets with Adhaar card after proper verification (KYC). The government should improve the impact of digital India throughout the economy so that more and more people get aware of this introduction.

No, digital payments are not secure enough for the Indian economy to go cashless. There are many reasons behind it. Those reasons are as follows:-.

1. Unaware of digital payments- In India, most of the people are unaware of digital payments, even many of they don't know how to operate the Internet.

2. As per report- According to the American chipset maker company Qualcomm, in India most banking applications don't run on hardware security. So, there is a high chance of password stealing.

3. Hacking & Hacker's- It's not long back when the biggest cyber attack in history, WannaCry ransomware.

Infected more than 40, 000 computers in India. The main cause of this attack is that In India, most of the Computers are not upgraded their Operating System. They are still using the old version of Operating System.

4. Security Standards- In India, no Security Standard's are prescribed by RBI or the Government of India.

I think digital payment is may be secured for our county. It's a good for a present time & also will be in future. But sometimes many people cheated to innocent peoples because they have no idea to operate payment app & also sometimes server problems to slow internet speed is a huge problem because sometimes my payment was not completed & withdrawn money in my account & waiting to refund for 4-6 days.

So, I think its a secure but refund will give be given within 24 hours.

In my opinion, digital payment is more secure than cash payment because there are many problems occurred during cash payment like stand in a queue (line) steal the money by thief etc.

Digital payment increases the economy of India. To improve the digital payment first of all government should take some step to increase the cyber security and awareness the rural people about digital payment and provide education in a low cast so that people get educated and move towards digital payment. Demonetisation increase the digital payment. Digital payment growth the economy of India.

Thank you.

Good afternoon everybody.

My name is Rajneesh Mishra.

Today, I am here to talking about cashless economy. So, according to my point of view, I m favour with a secure point because our government going to digitalization and its a good achievement for us. But in the present time it is working in cities and they all accept the digital payment but in rural areas they not aware with digitalization I m not talking about all rural person but most of all people don't believe in digital transaction, he thinks that is not secure, so government should launch some scheme about how to aware the people towards digitalization.

And the second thing the e-wallet company should secure our system more because hacker finds the different ideas to hack the system.

It's all about my view.

Thank you.

In my opinion, digital payments are not enough for the Indian economy to go cashless at least untill before creating awarness among people because in India most of people are not very much aware of digital things. India is one of biggest user of mobile phones in spite of this most of people are using it only for communicating with each other or use it in very light manner but when we talk about cashless it means everythings i.e. money hence before going cashless government should aware people about how to do secure transaction or how one can secure ones smart phones and more things.

I think digital payments are not secure enough for the Indian economy to go cashless because there is a lot of issues mostly in the rural area where most of the people still struggling with network issues, there is lack of awareness about digital platforms, lack of information how to use them securely, how to avoid fishing mails, links, etc. Even in some of the area, people don't have a bank account.