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

I personally admire the step that our government has taken in last few months to make our economy cashless by introducing motivating steps to encourage more and more e-transactions like using mobile wallet, plastic card, online transactions, e-banking, running various advertisement campaign to aware the public how to take the benefits by opting e-transactions over cash transactions as they are fully transparent and easily traceable in the eye of government so there is lesser or no chance of black money, money laundering, bribery, and so other odds can be nullified parallel in our economy.

I know the that initially, it seems to be a big milestone to implement and several challenges need to be faced like less education about e-commerce, adaptability to new products proper use and handling with less error and safety, Network spoof and their best implement at right time so it can be best utilized by number of pool.

According to me, going cashless is good but it is not the best for India. As digital payments method involve many problems one of them is cyber-crime and as India is an underdeveloped country so very few people have a good knowledge about this system. The retailers and the small shop holders they can't afford to go cashless and digital payments are useful and happen without any problem for large amount of sum but it is not that easy for small amount of sum. Many poor people are not well acquainted about this system and they had got mislead. As cyber-crime has being increasing in our country so people are afraid of digital payments. Most of the people are not well equipped with this online transaction. It is a good step taken to develop India but the Government should educate and encourage about this system to the people. And the Government exclusively focus on cyber-crime. That's all I wanted to say. THANK YOU.

Hello, everyone.

According to my views, digital payment is very secure for our country as we all know India is a developing country and one of the best way to develop our country is digital life because using digital payments we can make payment any time ant where without any problems and.

As I know most of the people in India wants to buy the best thing in cheap rates and they can get an additional discount using digital payment app and all.

And according to me everyone should use digital payment in India bust one of the most problem in India illiteracy and most of the people lives in village area and none of them have internet connection. So if we grow our India we all have to take 1 st step to literate every person. We should try to give speeches in village area and give them knowledge about digital payments and learn them about it is very secure "seekhega India tb hi to aage badhega india".

Thank you.

Hello, everyone,

I am Sujit. I would like to talk about this topic that is digital payments secure enough for the Indian economy to go cashless?

As of now most of the people are not educated in India. So it will be difficult to make them understand that how important it is. Most of the people are using internet for entertainment but they are not interested to know about India means what is happening in this world and how they can crack their life from this hectic world.

In India there are some villages, there is no electricity yet. So it is very difficult to say about the cashless economy. Day to day India is using the sate of the art technology but still because of other countries India is facing more problem for cybersecurity.

At first, India has to give focus on rural areas where people are not educated and make them understand what is it and why do we need to know and what happens if we will be doing.

Good evening one and all. I want add one point.

As we all know that digital payments playing major role now a days and it is helpful to increase the govt economy also. What I am trying to say is, for example: if we buy a product worth of rs 99 or 999 or 9999 from online shopping with cash on delivery, after getting our product we will not ask 1 rupee back from the delivery boy and delivery boy will also not take that one rupee into his pocket. He have to pay to the company back. So that, per day approx 1 lakh people or buying in India so we are giving 1 lakh rupees per a day freely. So that it will get impact to the govt economy with these type of activities. So if we use digital payments we can pay exactly for the price of product. So government should get the awareness in rural areas and they should advertise the use of digital payments in rural and urban areas too as it is like swatch Bharat. Thank you.

Yes,

It's good decision took from our goverment of digital payment system from this payment system we can save our time and at the Persant the people don't have time so it's very useful for them and one of the advantages for digital payment system is we can pay our MOONEY at anywhere wherever we want and we don't need to carry cash with us but after many advantages there also many disadvantaged for that first you need to know how to use smartphone because this system can handle only on smartphone it can't use in simple mobile and in our country in India 60% people are uneducated this is main disadvantage for that and first of all in our India peoples should take higher study and what can gourmnent do for that topic they sould make study cheap because Many people's in India they don't take higher study reason is MOONEY and for this system people's should have smartphone then this can successfully decision.

In my opinion, yes, they are secured enough, especially in India, as we live in a world where India has a very good reputation in s/w field. So when it comes to have any s/w or any website related to payment in India itself, logically it should be good enough, plus technology for these payments has reached to a point where it is very secured enough, although no one or no country can guarantee it to we 100 secure.

Then tracking system is very good in the digital payment system, so in case of any mishappening in any transaction, it can be tracked easily and there are a very high percentage of rolling it back in order to compensate which we don't have in case of cash is been robbed.

The digital payment system is very easy to learn and adapt and through which money will remain in banks as they keep rotating from one bank to another, but always open for further usage, which we don't have in case of hard cash.

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.

Hello everybody,

Irrespective of what we have to say, the reality is that digital payments in India have shot up 90% in the last two years, we have left China behind with respective to the number of digital transactions taking place in our country. We are expected to reach 1 trillion USD worth payments by 2026. All this has been made possible by increased awareness of general public through consistent governmental schemes, cheap internet connections along with easy access to mobile phones.

However, we have to keep in mind that we are dealing with 1. 3 billion people here and every good reform needs to come with certain precautions. Privacy concerns have become very prevalent these days along with numerous other Cyber crimes. It is important to educate masses about the various threats they might face and steps they have to take to in order to ensure they can safely utilise online mode of transactions.

I think digital payments is a very good initiative taken by our government, which somehow reduces, dependence on branches as well but at the same time some demerits are also there, many people whether it is rural or urban, still hesitates to share their card or bank, this is because the mechanisms that controls this whole networking system. So for this all our govt. Has to do is to make a safe securing networking system that cannot be decoded by anyone or else should insure the amount having in the bank account.

And government also need to take some measures by which rural people, weaker sections, senior citizens can easily use this digital payments. So for this govt should take some measures to help and educate them and right now, the situation of Indian economy is not so good, internet network is also suffering and also the accounts are not safe also. So right now it is not the right time to do so.