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

Hello Everyone,

This is a very interesting as well as a very important subject of discussion. See guys, almost every country nowadays is going cashless and India will also have to opt this method some day then why not today. Yeah, there is a risk in digital payment especially for those who are not in practice but we have to go with the flow. Even a bird pushes out her child from the nest out in the air in order to teach it how to fly knowing that there is a risk in that. The Cashless economy will not only result in diminishing corruption but also save people from varies lots. Digital payment is also good for the old age people as they don't have to run and stand in the lines of the bank anymore, just in a click all their payment work is done. A change is always necessary and this is a positive change. Yes, there is some risk but in order to achieve something a little risk is necessary.

Hi, friends.

As we all know that we are living in 21st century. And India is a developing country. And this century and further will depend on technology. So now our pm wanted to go digitalized our country like the western.

No doubt this is a very good and initiative step.

So for improving this step, our government should start this in urban and villages area's schools and colleges as an alternative subject.

Because more than 70% people in our country is depending over farming. So along with the cities, we should aware the people with this. That after be digitalized we can do our work very easily and without more hard work. In very less time.

And we should tell those who don't know about this.

And our govt should provide the smart phone in very fewer prices so that everyone should know about it.

I hope in the coming 2-3 years our country will be a digitalized country.

Thank you.

Going digital is a positive step towards the development of an economy. But how far will it help everyone in the country is doubtful? When we analyse the environment around us do you think we have an inclusive growth? The transformation will be fruitful only when everyone accepts and welcome the change. But for that change to happen people should free their mind from conservative thoughts and realise the potential behind the change. This is not going to be that very easy unless the govt take exclusive steps to bring the entire rural people into the digital net. The next major drawback is the security concerns. India is not completely secure in its transactions. People might be using smartphones but how many digitally literate people are having it is again a question of debate. So to enjoy the boon of digital payments a massive transformation is needed by all the classes of the society.

According to me, digital payments in India are not secured yet. The recent ransom cyber attack which hacked many bank accounts is one of the questionable reason for digital India. Steps must be taken by our government for making the cashless transactions more secure.

Going cashless will be one of the biggest stepping stone towards the economical and financial growth of the country with decrement in corruption.

As 55% of the population still lives in rural area, making India 100% digitally cashless is a great challenge.

Nowadays everyone has a smartphone from a businessman to a vendor.

Steps must be taken by government to educate people in rural areas and making them aware about the advantages of going cashless. Free internet facilities must be provided to these areas.

Another problem faced is that of language. So the regional language facility must be included in the transactions.

of course, Digital payments are future of our society. Today, our life's are more comfortable and luxurious then our ancestors and also people could find the easiest way to tackle every situation. So, in this context we can say that digital payments are need of our society, now a day no one has time for any extra activity then how it will be possible for them to stand in long queues for bill payments and also to buy luxurious thing in market, they have to take along with them huge amount of money. Which leads to discomfort shopping.

Digital payment is providing all facilities which today's generation want but these facilities are only limited to urban people rural areas still need lot of improvement for digitalised payment.

Considering, India where still there is a huge percentage of illiterate person the dream of the cashless country is still apart. Cybersecurity is also a concern.

Hello everyone,

Going cashless is a big step towards completing Modiji's mission "DIGITAL INDIA" as it can save our time from standing in endless line before ATM's & bank for withdrawing money but as you know "every full moon has its dark shadow" & same goes with this cashless transaction.

1) illiterate peoples are not much aware of the cyber crime going nowadays.
2) there is not good network facility in rural areas due to which they people are not able to do any online transactions.
3) the population in rural areas is much larger than in urban areas.

Solution to this problem could be:

1) The government should aware people about the cyber crimes through social medias, TVs, seminars etc.
2) There should be a limit like 2000 or 1000 after which you can do cashless transaction else not.
3) Operators should improve their network facility by increasing coverage, optimization.

Let's not answer it impetuously, we should all put our opinion and come to a conclusion.

I would reply affirmatively to the question put in front of us, as I have efficient abutment for my argument.

If it wouldn't have been secure then why is government putting so many efforts in digitalizing and making smartphone and internet services cheaper and cheaper.

It helps the government of India to generate tax and keeps an easy check over individuals income and expenditure.

It reduces the concept of black money as the account is under government surveillance from a survey it was cleared that in India only 10-15 % of earning class pay taxes and as we know that taxes are the greatest source of capital for the government. It will definitely help in the uplifting of India's economy.

If anyone of you has any other opinion or want to support my thoughts that this is the best time to speak.

Considering the point of veiw, of the government of India it's an enormous advancement towards the development of Indian economy. As known by all this movement has eminence potential to convert it into high-tech efficiency country.

As highlighted earlier about the potential this is in its growth phase but this point can't be avoided that security is the major issue but think about it once and question yourself doesn't it require a change. If yes nothing can be achieved without problems. Eventually, with increase in usage of this movement, it will certainly become possible to bring advancement in security systems as well.

The Government has taken various initiatives to make people aware of the technology available but it's completely an individual choice to adopt it or not.

Lastly, I firmly believe that challenges are followed by resistance &risk and this risk is worthwhile.

From my perspective, digital payments are good for the Indian economy, it saves our time like no one has that much time to go to the bank and stand in queues waiting for their number just for those transactions or payments that can be done by digital payments very easily and quickly in just a few minutes. It also decreases corruption, black money, fake currency because by using this digitisation the government has a full record about their civilians and about their economy.

But with the every pros there are some cons also, with India the major con is illiteracy and lack of awareness as still there are in India so much of people are not literate they are scared from these technologies. So we just need to aware them with new techniques and educate them and after that India will be the safest country for digital payments as it has brilliant programmers to save us from cyber hacking.

What I feel is that digital payments are fast and saves a lot of time, can be said secure for some part as its not totally secure, a breach or a hack can be done anytime but lets just say its secure and its a great advantage to the economy of a country and its people as it takes the country towards modernization and globalization. But like one should not have total faith in anything ever, they should not be relied upon totally. They have their bane as well on the society. There are many factors at hand. Digital payment and cash payment plays a vital part in their own ways and they should be the best rest the way they are. One can not erase the other. Digital payment can not be afforded by everyone in the country but cash can be there with everyone. Some of the reasons for it can be illiteracy and poor. So, according to me, a digital payment and cash payment should go hand in hand.