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

Hi, I'm Datta.

Digital payments secure enough for the Indian economy to go cashless only if we youngster actively participate in awareness programme and targeting same with the illiterate peoples, villagers, senior citizens up to the ground level and boost their confidence. If we all feel it is safe and accurate then digital payments are obviously secure, because digital payments are our future we all must accept it and to do better for tomorrow.

Hello friends,

Digital transactions are really helpful but it can be prone to hacking and scamming. We should spread awareness about privacy and security first and then ask someone to do what they prefer most.

Every thing have some merits and demerits in this world it is also like digital payment which has made our life so easy we don't have to make any queue in bank, bill counter or any movie ticket counter we easily make payment at one click. But this has led to increase in cyber crimes at peak like hacking of password of customer etc it is good concept but need strict organisation to handle cyber crime so that we can flourish towards cashless economy.

According to me, digital payments are not secure enough for the Indian economy as everyone has no proper knowledge about them. For digital payments, you need technology, better network connection, awareness. Not only in rural areas but also in urban citizens most people do has not to have enough knowledge of how to use it. So, we should give first them the proper knowledge for that. At initial the use of digital payment was very low as for hackers and don't have proper knowledge but after time many people think about it and using it as it reduces the time for payment and we can pay anywhere in India (needs a better connection for network).

Hello friends.

As for my point of view, digital payments are very much helpful to the people, because we may not have the hand cash sometimes because most of them will think in such a way that. If we carry money with us. We may lost due to the pickpocketers in the society. And many of us also think that. If we had money with us, we might buy something.

If we use digital payments. We can use our debit or credit cards. However, most of them nowadays are using the banks for security purpose. This almost all helps in digital transactions. We can use ATM for digital transactions.

However most of the people nowadays are using digital transactions. But main problem is with illeterates. They don't no how to use. Our government should try to educate the people regarding the benefits of digital transactions. Our govt should conduct training classes to educate them, and also we the educated people should also take initiative to educate the people and also make our country one among the great country.

Our main aim is to eradicate the corruption and make our country corruption free. This digitalization that is digital payments is helpfull for this.

Thank you friends for spending time by readings. All the best friends.

Yes, digital payments are secure enough as a otp and bit encryption is provided by mediating apps. It will boost our economy by reducing the middleman who takes the money and thereby corruption. But to penetrate this facility more into the nation, we should teach the uneducated people how to use it and its useful impact. Thank you.

According to me, if we talk about the safety then no doubt digital payment is a good option but in our country like India where most of the population lives in rural areas, it is not easy to adopt this option. This is a time taking process so before implementing it the government Should start various schemes to educate people about digital payment system and then after sometimes should implement it in our country. We youth should also take an initiative to educate our elders and family members about this digital payment system.

I see this situation as an opportunity to bring up India out of corruption, poverty and iiletracy. Since demonetization people have come to understand what is ATM, net banking I believe with time we will cope up with the challenges expressed earlier by many of my friends. If we want change it should begin from I, thus its my your and our responsibility to work together to fight against cyber crime. Literate people like me can work together organize small campaign in your society itself to make them aware about the changing world. It was really fascinating for me to see a note "ATM cards are accepted here" around a small thela near the tourist place. PAYTM being accepted by taxis this are the opportunities for us to go cashless and fight against the corruption that pulls India back foot.

Hi,

Digital payments are secure enough for the Indian economy to go cashless up to an extent. And this is the reason our PM supporting and engaging digital payments. Even though they are secure enough to an extent there is are some potential dangers like hacking our account and our digital systems like what the ransom viruses did. To prevent such hacking and all utmost care must be taken while doing digital transactions ie never passing our OTP, pin etc to anyone else. This is one kind of hindrance in making India digital but the major issue our govt is facing is that, making our local people aware of digital transactions. India is a country with a great population and a notable part of our population is ignorant about the digital world, even there were people who were still ignorant about demonetization. So I think it is better to teach and make aware of the need for the digital transaction and potential dangers to people, then only we could make our India digital.

Thank you.

Hi everyone,

Digitalization has its own benefits and drawbacks especially in a developing country like India.

First the main drawbacks Indian population consists most from rural areas and many of them are uneducated even if we provide the internet services, smartphones they are unable to use the systems and make digital transactions and most of them don't even try to save the money as they will have to spend the money they earned in next few days so why would they bother to save the money in banks just for few days. So the first foremost thing Govt should do is improve the literacy rate provide good and free education facilities across rural areas then it will automatically promote the digitalization across the country. Of course, digitalization wouldn't happen in a year it will take a generation of time if we do the things in correct way.

Regarding the safety issues, I think most of the banking systems safe.

Now the benefits are there will be more transparency in the economy fewer possibilities for fraud and also less time to consume as well as fewer resources required in the banking sector to operate.

Easy of doing business and we would be able to do business across the country inefficient manner.