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

Surely digital payment will secure Indian economy because many who are influenced by politicians will keep on increasing their property until they caught. But the fact is we are in the generation where there are many uneducated peoples, they will suffer much. So proper awareness before the system will also fail because of uneducated people.

I don't think digital transactions are 100% secured because there is some possibility to hack our account by hackers. It doesn't mean that we can't go cashless, but we have to take precautions when doing our online transactions. Like don't share our OTP to anybody, don't share our bank details, login id and password to any person. If we take precautions while making transactions then it's not harmful for us.

Second thing is that the peoples who are educated and afford the smartphones can make digital transactions but some are unable to do it because of lack of knowledge or they can't afford. So the responsibility of our government is that to make awareness of digital transactions to the people and provide more suitable banking options to them who are not afford smartphones.

As per my knowledge, I don't think that there is any difference in a cashless transaction in the urban and rural area. Because if you have smartphone and you are educated then it doesn't matter where you are. Even some rural people can make digital transactions accurately but urban peoples can't.

Digital Payments are of course secure unless they are done wisely. In india, there is a strong need of spreading awareness about using internet as a medium to pay.

In India, many computerized data are under the threat of Privacy and security, even your Aadhar card is not well secured then How we can say that digital payment system will not be under the threat of security.

If it would be so easy then people do it directly without asking the government for cashless. People go with the system which is easy to implement. I want digital payment secure but I think it is not possible for India as for as now, where some urban don't know how to withdraw an amount from ATM.

Hai friends.

Yes, digital payments secure enough for the Indian economy to go cashless. So that no one can theft our bank details or any other information about your bank and all. And black money will be reduced. It will be good if digital payments are come to use before that government should make the people aware about the digital payment otherwise uneducated people will face many problems before implement the digital payments government should be made them aware about this.

Hello everyone,

According to me, the cashless transition is quite safe there are zero % chances that your bank will relieve the transition details to anyone. Banks never ask for your debit card number or internet banking id or password so it's our duty to keep it safe although we have to change our password frequently and never share our otp with anyone at any cost. Govt of India has made Unified payment interface (UPI), Bharat Interface for Money (BHIM) etc for better and faster transition. But it is true that we are lacking behind as more than 50% of your country population belongs to the rural area where they don't know about the cashless transition although govt of India has taken the Jan Dan Yojana, but most of the banks don't have money in their account so it will not be possible for them to do the transition. Unlike cashless transition there are chances that you may be robbed with your cash or the cash may be misplaced or even can be damaged to avoid such things its good to go for the cashless transition!

Friends.

According to me, if you talk about the current scenario or you can say the condition of our nation we are not at our best at this technical and smart life. Of course digital payments are secure but only when, if you are very good at it or you can say when you have a good knowledge of it because a large amount of our population even our mom dad are not that much advance.

In my point of view,

Digital payment is very secure and easy way of transaction but in India 100% cashless transaction is highly impossible why because in India so many people don't know the digital service, some people know only how to do the online transaction, but in case of any problem (minor problem) is there they don't know how to solve that problem. Only who knows the technology they will do digital payments easily. This issue mainly happens in the rural area.

Now come to the metro cities and towns,

These people don't bother about the pickpockets. But they bother about the HACKERS. This is the main problem in this areas.

The need of the hour for the Indian economy is to go cashless. But 100% cashless Indian economy still remains a dream because India has a lot of population which is living below the poverty line. They struggle every day to make their ends meet and to sleep with the filled stomach. For them, smart phones and internet, a must for digitisation, remains an out-of-pocket dream. Even if everyone gets access to smartphones and internet, they are not properly educated and enlightened enough to make transactions by the digital mode. This will rather make them more prone to the digital frauds answer once subjected to fraud the faith in the digital payment system is breached forever. Money to them, even us, is the dearest thing. They can't afford to let go of their money in these digital frauds. Despite so many digital payment apps and services available, the security of transaction to the customer is not hundred percent assured.

Let's not go far. My housekeeper cannot even afford to recharge her bar phone. Smartphone and internet is a luxury to her. For her even one rupee is precious. She neither knows how to make payment digitally; nor she wants to shift to a cashless economy. A cashless economy is one of her worst nightmares.

On the contrary, educated and the well-off population can contribute to the success of the digital payments. They are less prone to digital frauds. They prefer digital payments over cash transactions because of the inherent benefits of the digital mode. Still, the picture is not so cheesy for the educated class as well. Even some of the well to do population prefers cash over the digital transaction.

To be honest, I do not prefer to make online payments of bills or do online shopping. Rather, I prefer to physically go to the shop and make payments via cash. I refrain from digital transactions as far as possible.

In a nutshell, I would like to conclude that despite the need for the Indian economy to go completely cashless, our country is only partially ready for the same.

Yes, of course, it is secure but the condition is that we should use a browser like Chrome Firefox that will help to secure payment method.