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

Hello Everyone!

As the question is about secure payments, the apps provided for digital payments are not completely secured and also there are risks of frauds and cyber attacks. Talking about the citizens of India most of the citizens are not aware about digital payment methods and would become the victims by fraud people. So we are not ready now to go cashless.

I agree with this when it comes to literate people who can easily use the digital system because it is good for Indian economic growth but when it comes to illiterate people then It might be risky because of the increasing percentage of cyber crimes nowadays. So I conclude, a cashless system is good for those who have knowledge about this.

Hello friends,

In my point of view, cashless India is the best concept for the Indian economy. It is useful to make our nation free from the corporation. It is one step against corruption.

In the digital wallet, we can take our money secure as compare to another source. In rural area face some problem about it, but they can learn about it then they also use it easily. Digital payment is saved our valuable time. It makes our nation technically perfect.

Finally, I conclude Digital payment secure enough for the Indian economy.

India is one of the fast-growing nation in the world. Are digital payments secure for the Indian economy to go cashless? Absolutely no why because nowadays internet is ruling the world. The usage of internet is increasing day by day. Now, present days itself there are a lot of hackers around the world. Nowadays we are not having much secure algorithms. So hackers can easily loot the money. Because of that type of cyber crimes lot of nations like USA, Russia, Britain couldn't implement the fully cashless economy. As my concern, it is not good to India to go fully cashless. Our prime minister Narendra Modi Ji took the decision that demonitization is good even though a lot of people faced problems for certain period of time. The main reason behind the demonitization is a lot of illegal cash which is printed by some countries is entering the India. So to eradicate that problem our prime minister took that decision. Because of that some amount of black money also come to the light. But to say only common people faced lot of problems than rich As we seen that recently a group of hackers hacked one of the reputed banks in India. In future, there will be a lot of new techniques for hacking. So it is not good to make our Indian economy to go fully cashless. Bharat Mata ki jay.

Yes, according to me.

If we follow the guidelines: There are a set of rules that need to be followed to keep your digital banking secure and free of phishing. If we take care of those little points which we usually ignore, it is not very difficult to stay secure with the digital payment system. People usually miss on the small but essential guidelines that maintain secure payment system.

Being worked upon: Mobile banking apps, wallets, payment banks are working overtime to help improve the security level from time to time. It is essential that people upgrade their applications from time to time when a new update is available. Instead of panicking, we should try to be more alert on digital security and make other people aware too.

New measures: The good news is that Qualcomm is already approaching digital payment companies to help secure their payment system. Soon Qualcomm is said to be coming up with its new features in the mobile chipset that will verify user with payment gateway using unique features that will be hard to hack or bring glitch into.

No, I don't think that digital payment is secure enough. Because we all know that India is a developing nation not fully developed yet. Also, a huge population of India is living in rural areas there were no electricity so if there is no electricity there will be no internet connection so they can't transact money. Now coming to literacy rate in India, it is also well known that most of the villagers are illiterate they use cell phone for conversation only they even don't know the whole function of a smartphone so they can't. Now as we all know that for a digital payment we need high-speed internet and an average speed of internet in India is only 3 Gbps.

Yes, digital payment are secure enough for Indian economy. now it has become a trend for doing the payment. Govt. is supporting the digitalisation.

Let's take an example:

If we used to go to market and then recharge the mobile number then shopkeeper does not give any discount and if we recharge through online such as paytm it gives the discount such as 30% cash back & free movie ticket for any payment.

Govt. has launched an app for digital payment is BHIM APP.
BENEFITS OF DIGITAL PAYMENT.
1. Risk less.
2. Get discount.
3. Secure Transaction.

Yes, Digital payments are secure enough for the Indian economy to go cashless, because as we all want India to be a developed country, for this digitisation plays a vital role for the development. It is safe, secure and risk-free. There is no need for large bags for taking cash from one place to another place. By digital payment we can pay and recharge our various bills, can book our travel tickets, shop by online etc. Digital payment also user-friendly and also we can save our time and money. We don't have to qued in banks and ATM's. In other hand, it can save our environment as we need pulp of tree for making currency.

Yes, Digital payments should be promoted in a big way, due to the following advantages:
- Low cost.
- Convenient.
- 24*7.
- Paper less (conservation of natural resources).
- Plug leakages in economy.
- Discounts offered by partners to use their platform.
- Win situation for traders and consumers.
- Time saving.
- Highly secured due to regulatory norms on encryption, integrity.

Going cashless is the easiest, quickest and simplest way to transfer money beneficial for our country as it will curb the black money, stealing, begging and other things. But in country like India many people are illiterate and if we overcome these problems there are risk of people to be easily fooled by frauds or by cyber crime. Many places in India don't even has proper networking making it difficult to transfer money or even in situations like blocking of calling or net in a particular area can cause a huge hustle and bustle in that area I am saying that going cashless is a good thing bus going completely cashless is not that great idea.