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

Some places digital payment is good but many places. Raviraj ji also said that rural areas have many problems by digital payment. But somewhere if you pay by debit card then you have to pay extra charges. & I don't know that why we pay extra charges. When product label is written MRP (Maximum Retail Price With ALL Taxes). So, I think this is not giving only profits us.

Yes of course!

After introduction of digital payments, it has become to easy to go cashless. We don't have to carry money and roam here there which also decreases the threat of money being stolen. We can easily access our card anywhere by the machine and pay the required amount. We can shop anything on online by digital payments. According to me, it's the best way to go digital.

As we all know digitalization of Indian economy is the need of the hour but the question is that are we ready to take such a big step in the present scenario of the country. The country where a huge crowd is a steel below the poverty line, where illiteracy stills prevail on a mass scale. The fact is that digital economy is good up to a certain limit. It has its advantages and helps in a lot of situations but the complete digitalization is not possible at present time. Many people are still there who are not even aware of the cashless payment like things. So, it will take time to the other countries for implementation and will be possible only in the recent 5 to 7 years.

At the time when the people are excited or furious to embracing the digital payments mode. Qualcomm brings some bad news that wallets and mobile banking app are not using hardware-level security that is mandatory for secure online transactions. At the crucial time when people are relying on the digital payments that nature of news is sending panic strokes across the country if not addressed soon.

YES, we can use digital payments method if we follow some instructions, some little guideline makes ease to protect and secure the online transactions. We should keep upgrading our banking applications when the update is available. New measures-Qualcomm is approaching some digital payment companies to make a secure payment he is making mobile chipset which will verify the user with a payment gateway that feature will make hard to hack and bring glitch.

The answer can become NO if we ignore some mandatory points like.

1) Qualcomm report.

2) Hackers everywhere-it is not long back when hackers disturbed the ATM money people lost their money.

3) Falling into traps-according to report people of India are more prone to tramps of phishing and hacking because web given in the web are not always secure.

4) Helping is not help pm said that every person should teach at least 10 people to use of digital payment mode but in the matter of money, no one will want to peer in their password and security.

5) another reason is lack of security standards prescribed by RBI in e-wallets.

NO, we are not ready for cashless but we are on the way. IT still need some more improvements.

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.

As per below points digital payment are secure.
1. No need to carry notes along with us.
2. chances of loot is zero percent.
3. It takes few-time at the time of making payment.
4. Takes less time to Transfer amount to other accounts without meeting with anyone.
5. No need of counting currency at the time of payment.

Not enough, sometimes cash payment is to be needed. In all cases, it is not possible to make digital payment for eg day to day expences.

First of all, I would like to say that yes going cashless is good for India but only for some part of our country. Although it is a good approach to develop the country but in rural areas where people don't have money to eat food properly, how they contribute their part, how they get to know to use the internet and all the development which are taking place. So the first thing is that for making cashless to our country Government must take some hard decisions in favour of rural area's people. After that they come to security issue to make sure that all transactions should be safe. Even though going cashless is a good approach for urban areas to save time and to make mental peace.

Firstly, one day will come when we all will be on the same path of innovation and technology. Today we must have to accept that today's era is based on internet and cyber world. And one day our country will also be with the same bar as of developed countries. Although suggesting it right from the moment will be little earlier because our country still lacks infrastructure, education and ability. Perimeter like electricity, computer education, the basic institution needs more attention. We only can think about a healthy and wealthy cyber society after having basic computer education and then it's safety and security.

When we talk about going cashless the point which is implied is that cash transactions are not safe and that when an individual pays for the transaction there is no proof that whether the cash used is hard earned or earned through corrupt means. So, when we think of going cashless it is surely a positive initiative as it would mean that the money used in the transaction is surely white in nature as the explanation can be demanded then and there. Now it is well known that there are many cases of cyber fraud and thefts so government should strengthen the cyber laws and study the cases of cyber frauds carefully so that none of that sort happens in near future. By doing this the government will be able to reach its ultimate goal for which the whole initiative is for i.e. to remove corruption. Now, all we can do is wish the government all the luck and do our bit as well by reporting cyber frauds if we come across any and not ignore it.