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

Hello everyone,

Today's topic is about digital payment securement for the Indian economy. In present days as we see there is only one sentence revolve in throughout India which is "India become a digital country". For making digital country Narendra Modi take a step and ban all 500&1000 notes and start online transaction system which is more beneficial, & cheapest mode of payment. Because of this many apps become active just like paytm, phone pe etc. Nowadays, When you go to market, and see your wallet is not there so at that time you didn't get worry, you take your card and your payment. This all the app also exists before ban of notes. But after 9nov. 2016 there is no any other option for transfer money. Then peoples take the help of digitalization and make their all type of transactions. Digital payment also beneficial for our Indian economy. And thanks to Jio which provide free of the network all the day, old peoples get know about some benefits of a smartphone, how to use it. But there is also one negative aspect takes place which is cybercrime. Russia losses a lot of things because of this cybercrime. No of hacker increases day by day because of which cybercrime increases. And that's effect sometimes on our transactions. When we pay online fee or something our amount doesn't reach to our destination and amount get deducted from our amount and at that time bank's System are also enable to help you they just raise their hand. So at last I just only say that for make successful digital payments make a strong programming which are also not be broken by hacker and get fully knowledge about digital system of our country.

Hi,

I think the digital payment system provides high-security levels than the cash mode and because of digital payments, the black money in the country will gradually decrease. Nowadays rural areas are also well aware of digital payments and also present govts are also providing awareness camps on digital payments system in rural areas to ensure the people.

Yes, of course, it's A good step towards corruption. But as we all know it's not easy for our country to go cashless right now because of less literacy in India. To improve this step we need to first educate people about the digital money transaction. Also, we need a forward step in education field of view. Smart classes should be in every school from starting of school so that future is completely digital. Only govt can't do this we need to help them.

It's a nice step and should execute as soon as our people become literate.

Hello,

As per my opinion, Nowadays, India Will Grow in 21st century, with Developing nation to Developed country. It is bold step taken by govt of India Is more helpful for future development of Indian Economy and Global Economy of India.

It is possible that Each And Every citizen of our India should connect through the digital payment system for growth of GDP of our Country By Proper Campaigning And advertisement in news channel, newspaper.

If PM takes such decision for people will come in the flow of digitization for the digital payment system and control corruption, if 125 cr. People are coming ahead one step for digital payment then and then 125cr. Bold steps will stop the corruption.

Humble view of mine is that cashless economy is a boon to our country. Because the transparency in transactions makes people's pay the taxes for their income and expenditure. But still, if there is a step moving upward there must be a clear view of positive and negative effects. Even in many villages, it's is hard to see a street light and how it is possible to make the cashless economy in such places. The internet is not accessible and it is not trustworthy as money. So the GOI should focus on developing the technical aspects and that leads us to use e-economy definitely, not by the advertisements of Bollywood heroes can make us use cashless economy.

Hi, I'm Jay. Obviously, this payments are secure for the Indian economy, and to go cashless then India will be going developing to developed country. But one major problem is illiteracy people have don't knowledge on cashless, transaction and also don't have smartphones. The government should take the action to council to rural people for what is the use of cashless and how to use online payments, transactions. Then an India will be reached to developed. And also literacy people can help to illiteracy people then India will moving fast forward.

In my views, the digital transaction is the best method to make payment. Before demonetisation people already use some digital payment apps and net banking for the transaction, but that was only limited to educated people. After demonetisation, every common man adopted a e-transaction for paytm. So, either it is forcefully or willingly, people going for digital payment.

There are some benefits and some drawbacks of digital transaction.

Benefits includes.

Transparency in the funds transfer, that will help to calculate individual income and to collect income tax.
Paperless.
Cashback offers.
Accessible from any part of the world through internet.
Curb on money hording.

Drawbacks includes:

Many people in India are not technosavy, so training should provide at the village level.
Many stores and hotel do not accept money in e-transaction.
If any person gets hacked for a digital transaction then a quick decision should be taken by police and provide compensation to the victim.

Hi, everyone.

Digital payments secure enough for the Indian economy to go cashless.

1. Fast transactions.
2. Printing notes problem can be avoided.
3. We can easily handle the money.
4. Emergency service.
5. Black money can be avoided.
6. No duplicate notes problem.
7. Realibility.
8. Highly secured through OTP confirmation.
9. Steals can be reduced.
10. Increases the literature rate.

To achieve cashless India government has to make a proper infrastructure,provide security and all should encourage the digital payments.

Government should make awareness programme on digital payments.

Hi guys,

Yes, digital payments are very much secure for the Indian economy to go cashless. In fact there are numerous benefits of using digital payment, we can't hide a digital transaction so every transaction will be a tax paid one, which increases the revenue of the government leading to increase in the economy. Developed countries all around the world are using digital payments because of its vast benefits. The only thing that should be taken care is of is its security and to bring awareness among people about how to use digital transactions and its benefits.

It might be difficult at the beginning but in the long run it will be very helpful for the country.

Hello one and all, this is Soumya.

In my opinion, the digital payments are the most secure and faster payments system. Digital payments not only reduces the need to carry cash every Tym we go out but also give us the option to do our online banking staying at home, no need to go to the bank for every transaction. We can check our balance and moreover also our passbook if the need arises. Nevertheless, there is a threat due to the hackers but that can be taken care of by stringent laws and security policies of banks and digital India campaigns should start from the root level that is from our villages. They should be first taught how to use a smartphone. Then the merits and demerits of using a phone n how to use it effectively then they should be taught thoroughly how to use their online bank services. How much it is to use along with that the things about the secrecy of OTP. These campaigns should be sponsored both by the government, socially and digitally aware people and banks themselves so that digital India campaigns become a success. Thank you. Suggest if I said any wrong.