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

Digital payment is a good procedure for making payment online. In our country, PM Narendra Modi has introduced an app BHIM. It is very helpful and saving our precious time and there is no need to go anywhere, you can send money by a small swipe in your phone. In spite this, there are many apps like Paytm, phonepe, mobikwik and many others are proceeding to pay online and also giving various discount i.e. cash back offers, shopping etc. After all this is follows the high security while we are making online. When we are paying it is giving OTP (one time password) to confirm that the concerned account holder is using or not. If we focused our past there had to stand in a queue to deposit and withdraw money and many time we were unable to make withdrawal due to limited cash. But now a days it done on the little swipe. It is only possible by Digital Payment.

Hello friends, according to my point of view digital payment and cashless scheme is profitable for Indian future and it is decrease corruption and crimes but it is not profitable 4 Indian rural peoples because they are not know what is this scheme digital 4 India scheme launched by Prime Minister Narendra Modi it is right decision 4 Indian economic development but in India 20% people are illiterate as my experience 70% people in my area are illiterate this scheme was only adopted by citizens rural people not know the digital India scheme because they are not know use smartphone laptop computers Indian government try to finish the illiteracy of rural area and a new scheme launched by Narendra Modi Sarva Shiksha Abhiyan it is a good decision for Digital India cashless scheme and cashless scheme is profitable for every person of India citizens and rurals.

Yes, I can say that but I saw one thing I saw many cheaters are doing their work very clear like they were sending one link and written in their please link on this link to see your bank detail and when we are clicking within a few second one message were come on our phone is 35k is deducted from your account so there is a big drawback of digital payment so if you are doing digital payment do but never save your card on any application for the frequent payment and I can say one thing that by only digital payments bank load is also reduced and in previous year if we want to do send money to other bank account or if we want to withdraw cash then we will have to stand in a queue for 2-3hrs and in nowadays we just enter amount and click money will be sent within a second. So, we all know that if there is some advantage then there is some disadvantage also.

Hi Everyone,

According to me, digital payments are convenient for us. It has reduced the worry to carry cash all around we go. If we do the transaction online then there is good chance to keep a record of our economy. However, It has troubled people of villages and those who think they are not able to adapt to the technology. We have also come across some of the villages also where the payment method has been completely shifted to online payments. Thus I would like to say it's not impossible If people are trained properly and if they really will learn we can go cashless.

There are certain cases where we have witnessed the failure of online payments, forgery but these all will resolve with time as development is a continual process. We find loopholes and we correct that is how we develop. We should support the system, find loopholes to correct them.

If we consider the economic point of view then definitely a big yes.

But, if we consider the cybersecurity issues as well as illiteracy rate of India then definitely it's not the perfect time to implement it blindly.

Coming to the economy of India, surely digital payments will help to reduce the black marketers many fold. Also GDP will increases due to the reduction of black money in infrastructure as well as import and export industry.

On the other side cybersecurity is a major issue for the under developing countries like India, it will take a lot of time to strengthen the security issues.

So as a conclusion we can say, every bold move faces a lots of problem before its get implemented successfully. Same in the case of digital payment. We can give our well wishes and full cooperation with the government to make that dream a reality.

Thank you.

Yes, digital payments can be made in India but there is no necessary to go cash less. India being a developing country is included with different sectors of people. As we know that India is Farmers Country there are people who have only limited knowledge of the digital payments and they end up in choas. In addition to that being dependent on Internet of every transaction is not good. There are place where the signal strenght is low. If their is failure in the transaction then we need to be wait for recredit of the money to the account. Generally blind people used to calculate the amount of money by the touch of currency notes which is not possible in digital payments. Even to that there are many people who hack the sites and steal the money during transaction. In my opinion digitalization in India is good but I didn't mean that we should go cashless.

India is a developing country. Presently in India, people are illiterate. They don't know about what is happening in our country so suddenly if we will introduce this online transaction system then it will not make any change in their mind set they. Because according to them, the internet is just like a game which is used by children to spoil their future but they don't it's advantage and mainly about an online transaction. If aware camp will schedule in rural areas then only it will make difference. The Government has to decide one five year plan for this only so that all rural area people can take advantage of this facility. We also have to contribute one efforts to teach activities facility we have to tell this will save their time. Security from robbers and losing their money in crowdy areas this all cases will be reduced if they will learn this.

Yes, I think digital payment is secure enough for the India to go cashless. If all the transaction made by the peoples is through the digital mode then they do not have to carry money to buy anything. If the wallet or purse of a person is lost then the person has to just lock his/her card and their would be no loss of money. Large amount of paper could be save and so the trees as manufacturing of paper is obtained from the cutting down the trees. India has the most intelligent coders and hackers to save our cyber system from some infectious viruses. Last month some of the countries were infected by some dangerous virus and their system collapsed but India was not among them. Our cyber security of bank and other departments which have a direct relation to money is very strong, so people don't have to worry about their bank transaction id to be hacked.

As every coin has two phase one is positive and other is negative so digital phase also has two phase. Digital payments save users precious time. As we know that into days lifetime is so precious in everyone's life. It also makes our country economically advanced. Through digital payments, we take money everywhere and make payments easily. And digital payments play an important role in making the India digital.

As I tell you that every thing has some positive points as well as negative points so digital payments also have some drawback. Cash less payments increase the number of online crime. And digital payments have not used in cruel area and the uneducated people are not able to use the digital payments. Because of digital payments, some important information are hacked by the hackers so digital payments are not safe as Compare to physical cash.

Yes, However we have come to cashless economy, to empower our economy and to stand equal to rest of world for both national and international interests. But one side if we see, in going cashless we need secured systems and network, that we don't have. We always hear the number of cases of fraudulent happening around the world stealing money digitally. So, obviously, digital economy is not secured even coming so far in the stage of development.

And we all know there are some benefit of keeping cash that might over come some of the cons of digital cash like- distance between rural people and internet/atm.

Therefore, we have to rely upon both cash and cashless economy.

But I would like to make one more point that before going cashless, as we are new to it, we should have developed a through out architecture or flow to implement it in a better way.