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

Yes, we can go with the cashless economy or to make our country cashless because the foremost advantage of the cashless economy is that there is no need of carrying money which reduces the inconvenience due to carrying cash or theft by someone. It is easier to track black money and illegal transactions.

But there are some problems, not everyone has the knowledge of doing digital transaction because in rural area peoples are not so educated. They don't know how to do and no internet facilities are provided to them. Some people having half knowledge of digital transaction are exposed to cyber frauds and losing their money to online scams and their accounts are hacked.

As the whole world is going to be changed, new applications and technologies are coming. It is necessary to aware peoples about digital transaction through education, newspaper, advertisements and magazines.

I think digital payment is good for our country because in this covid period if we use money hand to hand then it cahnces of corona virus infection so we have learn it and increse the awareness in the urban and specially in the rural sector beacuse everyone have android phone but they don't want to use and they have a fear of loss money and also not a good network in rural I know because I born in village I know everything related to that so cashless is good but with this network, knowledge and awareness is also important thing, so I think it is good and slowly slowly time is changing and it takes time to develop our country it helps people to save time and it is a faster way to send money from one account to another account in a faster, smarter and better way only use android apps and mobile phone so when are fully aware about it so it helpfull for them, safe and secure.

Yes, Digital payments are secured.

Digital payments are secured if people will follow the rules and guidelines.

In today's technological, era it is good to get digital and make payments digitally. Making payments digitally is secured as you need not to carry a large amount of cash with you. You can make payments easily with the help of mobile phones and computers. This is secured as while making payments you receive an OTP and you even have the proof of payment made or the amount received. As the generation is going digital, paytm application has become universal in mobile phones and with the help of paytm we can easily transfer amount from our bank to another bank without any interest.

Going cashless in beneficial for us in the above ways, but according to cybersecurity point of view, we have to get more secured as because of hackers people afraid for going cashless.

Yes, the digital economy is secure enough for the Indians economy to go cashless because.

1- It reduces the taxpayer's fraud (they can't change or generate the different amount bill).
2 - It reduces the lost of people who are sitting at the roadside for selling the vegetables.

Reason - The people who are selling the vegetables at the roadside and a customer comes to them and buy around INR 52 vegetable (the actual cost is 52) and they paid INR 50 to the seller, so they have the lose of INR. But when the digital payments and wallet hit the market the lose was decreases rapidly and the seller is getting their actual amount of product. (The common / lower-middle-class benefits).

The digital wallet is highly secured because no one is going to take your money without your approval or until and unless you paid them. This is a good cause and we should appreciate this cause.

No, digital payments aren't secure enough to make payments online. Reasons are, importantly most of the people who use NEFT or RTGS or use of cards may save the data in the websites or in apps like paytm or flipkart, and if they not saved also they won't log off from their account. So the database processed during transfer will be saved may in users phone or app servers, so this makes loop holes for the hacker to grab information.

Recently one of the Indian institute IIM did research on this and the result was about 30%-35% of phones passwords and money transfer database are hacked that too in three months, from DEC 2k16 to FEB 2k17, that too at the time of demonetization.

So it's better to execute powerful encryption methods in India for money transfers. So that it helps to go Indians Cashless transfer without second thought making successful Go Cashless.

Thank you.

For making digital payment the thing which requires are literacy, knowledge to use the smartphone, know how to make the payment, proper internet service, security of system & hassle-free software to use. There are many loopholes in our present system which need to be recover. Nowadays some amount of population of youngsters are proficient of using this payment mode if with the help of government we take the initiative to make learn the other people who are getting fear of using the system then it will definitely work & the more the no. Of people will use by the time all the technical glitches will be recovered & security system will be more tightened. So as per my view, not only govt if we all youngsters also help in this initiative then in a very less time our economy can move towards cashless & more secure payment within a less time & hassle-free.

Yes, I think that digital payment methods are secure enough for Indian economy to go cashless because the security threats on digital payment methods are mainly due to lack of awareness among people & the other security threats thar we are talking about are with cash economy as well because banks with cash can be robbed, people can be conned by criminals. As these kinds of threats are a common factor in cash and cashless economy so we cannot take that into consideration. The digital payment companies are using highly upgraded systems to make digital payment as secure as possible & these security systems are being upgraded in a timely fashoin, so at last the basic security threat is due to lack of awareness which we can overcome by various general awareness campaigns and our government is also taking steps to encourage it. So digital payments are secure enough.

In my point of view, yes the digtal payment secure Indian economy because if we prefer online payment like paytm, credit and debit card so we can save our time we can also reduce corruption and black money also. And we already know that the plan BHIM which is organized by the PM Narendra Modi which is online payment application so we should prefer online payment so there are a lot progit but some disadvantage are also like about rural area's people they don't know properly how to use ATM or Paytm and we know techonlogy has been increasing day by day so in the case account may be hacked by hacker in rural area and one more thing is that villagers are not well educated so it is not profit for that type of people so government should provide awarness camp for distributing the knowledge of such type of new technology after that digital payment can be effictive for future.

In my perspective, a step towards the digital payments are quite good but actually, I think it is quite early because as you know literacy percentage in India is not 90%+. So we can't say that all people can do this payment or there are many banks in India who are using the old version software which can b hacked easily. So I think Modi government should literate people first, they should arrange camps in every village of states and make people literate or give knowledge regarding smartphones and their uses. You can also install much online cyber security in their Mobile and also they should tell Banks to update their software so that Cyber crime will be reduced. And after 2months of this camps, they can Go for Digitalisation as there will less chance of Errors. And we can get Accuracy rather than Precision. Tysm friends for reading this whole text. Best luck guys.

Good evening everyone, yes it's good to go cashless to India but at present and on an instant it's not a fair of option to go 100% cashless. As India has a mixed economy and still there are number of people who are not well verged with technologies. India is that country where people easily start trusting others and even gets dependent on others. As we normally see in many of our family only that the old generation people if need money from ATM or even a mobile recharge they depend on us new generation people. But being every new generation people to be fair with other people is hypothetical condition only and same is with learning technology by old or backward generation people.

Even we have heard lots and lots of cyber crime. Going cashless can motivate to such crimes too.

Thus I would say that according to the present scenario cashless is not a secure option.