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

Hello friends.

Happy to be a part of this discussion in my opinion, digital payments are secure but in India so many people are don't know about the online transaction some illiterate people they don't understand that but anyone can explain that they would come but nowadays all the payments are doing digitally there are secure enough but in India there is a lot of corruption it is not possible so it is good it does not consume more time that's it thanks for giving this opportunity.

Hello friends.

We are discussing about is digital payments secure enough. In my opinion, these modes of payement are more secure than any other payment modes it saves our time and gives the suitability to make payment. As you all know that our honourable prime minister Narendra Modi announced the digital India scheme. This is a good initiative from our government. The government also introduce the online payment app BHIM. Now we will talk about the security of the digital payment modes. At this time we have the infrastructure to secure the digital payment. There are many systems like one-time password and we also have the cybersecurity experts in the banking system. So finally we can say that in our country digital payments are secure enough to pay online.

Yes, digital payments are secured. According to my opinion, to make digital payment is an easy way to transfer money from one account to another. Due to digital payment, people does not face many problems like standing in a queue for a long time, and there is no fear about large amount of cash.

In India, digital payments is not going on properly way because of illiterateness.

Digital payment is by an easy way.

At the time of transferring by a digital method, we get an OTP number on our mobile.

And then we write OTP and money transferred in one second without fairness.

And we have proof of made a payment and receive the money.

By the cybercriminal point of view because of hackers people afraid to become cashless. So Indian government should give more security system.

Yeah, of course, digital payments is an easy way of paying money through phones at any time and everywhere so need to go to banks to deposit the money it is innovative we can easily understand the usage by paying digital we don't need to carry money to everywhere and infraction of seconds we can transfer it..Digital payments are more secured because while doing transaction it will not directly transfer but it sends otp with that we can transfer that means it is highly secured and technology is increasing day by day so we should become masters of technology. But country people don't know the usage of smartphones it might become a disadvantage to them because they are literally uneducated so keeping this point our government should encourage those people to use smartphones by keeping campaigns like teaching how to use the phone properly!

Digital payment is one of the best technological advancement which we have seen in this era. It allows us to pay through our phone and we do not need to carry cash all the time. Paytm, tez, phonepay, etc are some of the digital payment app. This app allows us to pay money online. Having these apps in our phones gives us the benefit to pay cash from our bank account to others account in seconds. Earlier we had to visit banks and stand in a queue to deposit money but now having this gives us the benefit to depositing in seconds. Digital payment is also safe as it has a security procedure which is followed every time a transaction is made. When initiating a transaction we have to enter a pin, then we would receive an OTP in our phone and after entering the OTP the transaction would be initiated and a tnx no would be sent to us. My opposing view to this would be, that everybody wouldn't know how to handle these apps as they are not exposed enough, for them it might be some suspicious thing and scheme which would take their money away.

Today digital payment is secured but we should think about rural area where still not reachable digital facility as well as they are literally uneducated person and our education system is very poor so think us about education as well rural areas where still amount of uneducated person live s with his family even though they not competent for his family to survive.

Yes,

According to my point of view, digital payments are secure enough. I would like to take an example of Akodara first cashless village of India that is located in India. Even though cashless payments are secured as they are encrypted and have OTP function that is connected with banks it is, however, important to notice that all people are not literate enough to use applications like Paytm to go cashless. In this case the government Can first convert the cities (Tier1) to cashless and then identify the gaps and implement the model in (Tier 2) cities and so on for villages they can use the model followed by Akodara and change it as required by villages in other states since the basic model would be same the transition would be easier.

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.

I'm dev.

Yes, digital payments are secure and definitely will help to our country to be a cashless country. For example, if you are making an online order or paying to somebody through your net banking or with your debit card before completing a transaction you have to insert otp which has sent by your bank. So the only unsecure thing here is your phone, not you are online transaction you always receive a confirmation text or email after making an online transaction. Also each and every time you receive a unique transaction Id which makes these transactions more secure so there is no chances of any fraud. What you only make to sure is always be careful while putting your user ID\'s and password. So if we can learn that how to make a secure transaction from our end it will be definitely secure enough and we would be a cashless country soon. Apart from this we have to work on rural areas where due to lack of education and technology villagers still don't know how to make digital payments they are still using cash in their routine life, so it's our duty to educate them about these things.

As we all know that the digital transactions are encrypted in the machine language they are considered to be more secure if we compare it with the offline mode of payment, but we should keep this in mind that India is a poor country and a majority of people don't even know the meaning of going cashless.

There must be some provision to teach those people the meaning of going cashless so that they can also extract out the advantages of it. Apart from being secure, digital transactions have several other advantages like it helps us out in emergency, it does not carry the risk of being stolen, and does not carry any physical appearance as such.