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

Talking about digital payments, it became an import part of our life in today's scenario. As we all aware of the pandemic condition we have seen last year and still going through that only. So by keeping that in mind and not too involved in any kind of interaction which may lead directly to our health, payment in digital mode is the best choice.

Keeping aside the pandemic, If we see another aspect like our busy life and early payments on the spot, here we definitely need an interactor that can solve our problems. For that, we have applications like paytm, google pay, phone pe etc. All these works in digital mode and saves our time to make us go to the bank and standing in a queue for hours.

Apart from this, we can save our surrounding from corruption by using the payment digitally directly to the owners without involving the spooners in between.

YES, In my point of view, the digital payments are absolutely good. Because now at present in India there a scarcity of change. So we can't make 100%india as a digital payment, but up to some extent. Those who are able to use they can use digital payment and those who are uneducated they can go by cash. So, both can survive. Later on, the uneducated people also learn slowly but it would take time and to understand the process. It is our duty to educate the people and beware of hackers. Because technology is increasing day by day. And our India will be developed country only when changes occur until that it would we developing the country.

More over crimes also increasing and we have to be careful for this problem. Still, we can go head because for every problem there would be a solution. As India overcome may problems till know.

Hope for good.

Talking about going cashless by making digital payment is enough for making India economy digital, I really don't think so. As we all aware of the fact that India is around 70% based on agriculture sector, only the 30% of the people of India is in non-agricultural. And lots of the people are uneducated, talking about that 30 to 60% of Indian, it is very good for them that India is going in the way of cashless but what about the rests? India is still a developing country.

- For making the digital payment the people should know at least the basic of digital education like to work with mobile, to work with an ATM, and other things. But if the people have no education system in the rural areas then how we can expect that Indian economy can go cashless? first of all, we need to aware them with digital education and then any other digital prospects.

Proper implementation of anything in the world is a difficult task for the management. If we talk about the Indian economic system, the first thing comes in our mind that the approximately 65 percent of the population dependent on the primary sector (agriculture) of our economic system which of the most are not able to use digital payment system due to the lack of awareness and knowledge. And another problem related to the digital payment is security which can be secured by implementing the proper data algorithm system because today India is growing in the field of computer science. Another side we have many benefits of it like convenience, time-saving (fast payment), more flexible, no tension of carrying cash etc. Finally, I want to say that digital payment would be better if we bring this system in front of people with more secure and aware.

Good Morning to all of you.

I am going to give you a small point of view on digital payments. Digital payments is good for those who have knowledge in working with the digital world like operates the mobile phone, laptop, and many handheld devices but for those who are aware of digital world. How they come to know about the digital payments. Indian economy increasing day by day no doubts. But the government should take initiative for providing a learning environment in villagers area and in those areas where no one is aware of the digital payments. This is the best way for making payment digitally from this security level of pay increases. In the last but not least I want to say that please aware to those people who have no knowledge about the digital payments. If possible. Through this Indian economy may increase in a frequent way.

THANKS

Hello everyone! Today's topic is:- Are digital payments secure enough for the Indian economy to go cashless?

This is a burning topic. According to my point of view, our country is now strong enough to take such a big decision. We must appreciate this idea of digital payment. Digital payment is necessary for a healthy economy. We want a corrupt free nation. Corruption has reached at highest peak. So, to overcome from such issues we have to adopt this idea. Certain difficulties will definitely come. But together we can overcome these difficulties. No matter what is the literacy rate of our nation or how many people seldom use new gadgets, if we are together we can fight these issues very easily. This decision can remove corruption up to a certain level. This is a golden opportunity of making India-a corrupt free nation.

Jai Hind!

Thank you.

1. Digital payments made easy our life to go without cashless. Imagine, you went to a holiday trip with your friends and all the spending is made by you without knowingly and suddenly all of a sudden the money you have bought for the trip is over and you did not carry your debit/credit card or you have forgotten you pin number. Then in that situation it feels very difficult to anyone to ask money from others but we also have an alternate option that is digital transfer, nowadays digital transfer made easy even with our finger lock so we don't need to remember the pin. And it even more helpful for senior citizens because they might forgot their pin at any time but once if the finger lock gets opened then they can happily enjoy their trip easily. So, in my point of view, digital transfer is easy and trustworthy based upon the choice we choose.

In my perception as everything has a both side also in case of digital payments has two sides. Talking about the positive effects are it is very effective and Convenient way for the transaction. Talking about the literacy rate according to 2017 census it is 71.04% means there is a huge literacy rate in India if an illiterate person is able to work on Facebook and whats-app then he will also capable of transferring money using online transaction. Now talking about the cons in India there is no such hard and fast rule for the cyber attacks and also this year 27000 cases of cyber attack has been register and it may reach to 50000 till December which means that the government does not have the proper infrastructure for empowering the digital payments and also because of increasing cyber crime rates the people doesn't feel safe to transfer money.

According to me, going cashless is a big step towards "DIGITAL INDIA". Digital payments save time and there is no need of standing in lines but we aren't completely ready to go cashless. The wallets and the mobile banking applications in India are jots using hardware level security which is mandatory for secure transactions. Also, Indians are most prone to falling in traps of phishing and hacking. So we aren't completely to go cashless but we are on the way. Also, there is a lack of awareness among the people of rural areas. There are not aware of how to operate a mobile and we expect them of making transactions through them. So a lot of efforts need to be made. Also, the network operators need to improve their coverage. The Indian companies are making improvements to make digital payments more secure so can hope for getting things better.

Hello Everyone!

Digitization is one of the important and beneficial step which Indian government has taken. When comparing to other countries, India was lagging behind in terms of digital payments. Today digitization has increased the Indian economy.

But we cannot neglect fact that along with brighter side, digitization have darker side too. Illiterate people cannot go cashless. Even, illiterate people are fooled by swindlers and fraudsters.

It is correctly said that incomplete knowledge is very harmful. So, Indian people should posses knowledge regarding digitization. Proper training should be provided to those who don't have knownledge of digital payments.

So, we can conclude that digital payments are secure enough for the Indian economy only if every citizen posses knowledge of digitization otherwise same thing will turn into fraud.