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

I feel instead of going completely digital, we should adopt a step by step approach. the idea of making it compulsory for large business houses at first make the plan achievable. and gradually once the idea is understood by the whole nation it should be made mandatory for all.

FAVOUR
1. Time-saving
2. Govt will be able to fight corruption.
3. The money will become transparent and traceable.
4. the burden of tax will be shared by a larger base.
5. Govt is making effort to educate people.
6. Change is a part of life.

AGAINST
1. Old people are not tech savvy.
2. hackers will take advantage
3. large population of India.
4. should not take decisions without planning. eg. deaths during the demonetisation time.

CONCLUSION = Digitalisation has more advantages than disadvantages. All the demerits can be overcome with the right amount of efforts.

To go cashless, there is only one way "Digital payment" obviously, but if we talk about the security, ofcourse it is secure. Most of the digital payments are protected by atleast two way security protocol, eg. Card number, password, otp etc are used for providing secured payment gateway. But in case of cash the only security is our alertness and physical strength which can be breached by anyone.

And if the question about hacking or unsuccessful transaction arises, these are mere accidents that happens with cash also like snatching or looting or pick pocketing. But digital payment really helps in narrowing the domain of thief.

Why? Because cash can be stolen by anyone but if it is digital cash then the thief is unfortunately required to have a wide range of knowledge about computer, firewall, breaching of digital security etc. Thank you.

First of all, cashless sounds easier to handle to cash anywhere in the country or anywhere in the world. But some hurdles are making it confusing among the people because we prefer cash in hand more than in virtual wallet. Almost 80 percent peoples inccludes farmers, labours, basuc phone users these are not knowing about how to use internet, mobile so its not to easy to make them instantly use mobile phone to transact due lack of knowledge so we must teach them how to use and give trust that your money is safe and if any problems come to him during transaction where the contact and solve their issue and how to secure digital tranction so in these days cyber fraud is going increasing like sms froud, coupon lottery froud and stole customer information so people's must know these type of information and govt must take some action against it.

Digital payments is making the payments through technology. It offers the ease of doing payments anywhere you want and the way you want. Different options are also available debit cards, credit cards, net banking and even applications like paytm further make the things more better. Just at the click you can buy, sell& invest where you want. But talking about is it secure enough in Indian economy. More facilities are to be made available to remote areas. Even now some people prefer carrying cash as compared to doing it digitally.

The very first reason is ignorance. They felt vulnerable to the use of the technology. Afraid of getting indulged in fraudulent activities they prefer physically carrying out the payments. It would take some time for Indians to get acquainted with the digitalisation as not everything can be learnt overnight.

According to me, digitalization is important. For everyone either an individual besides in rural or urban and the initiative which is taken is completely in the favour of citizens because we are already years. Backward from other growing countries in many fields and completely disagree those who think that this is not the right time to be digitalised because steps is to be taken its good taken now instead of getting backwards for some more years from. Otherwise, countries aa like peoples are not used to all this but within some coming years, they would completely adopt it. And 68 % population of the total population besides in villages but many of them started doing online payments there are an exception but not at that level that we should not adopt it. Its just govt should look that the payments which are made should be secure n safe.

As per my opinion, India is a developing country and we are moving towards Developed so we have to add modern technology towards our daily habbit, at a time all are not going for cashless transaction because of due to the literacy ratio in our country still 40% population of our country are illiterate it is very difficult for them to make a electronic transaction. So we need to create awareness among them about the cash less transaction and make them understand the advantages and disadvantages.

At last I would like to conclude that educated people can go for cash less transaction and they should try to understand the uneducated people about the cash less transaction so in near future they can avail for the electronic transaction. By this we can reduce corruption, robbery, printing cost of currency. Reduce our time by standing in line.

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!

Hello.

In my opinion, making Indian economy cashless could prove to be most efficient and accountable step. But directly going for it could be the worst step. As we all know our country has a wide population and different classes of people. And the majority of them are rural and backwards communities, who don't even know what is digital payments. So I think first we must make people aware of it by spreading more awareness among through campaigns and advertisements. Should make them aware about various advantages of digital payments Also, the government must opt the multi-layered security system and should set up more anti cyber crime forums which will trace any type of cyber malpractices 24x7. By this people feel more secured and will come into the online habit and ultimately will go cashless more easily and more securely.

Thank you.

Hello everyone.

We are here on a topic that digital payment secure enough for the Indian economy to go through cashless.

We all know the what is the population of India and besides that how much people are literate or we can say aware of these digital payments.

In India, we can't say that it won't be working it's actually working. We are having such a great IT sector for it's security. Now a days every person wants to move cashless without any fear. Many people faces the problem of lost money. Through this digital payment they will be free from carry money from one place to another.

We can't say that only a person having a smartphone can go through digital payment but also a person who is not having a smartphone can go through digital payment by their ATM cards, debit cards and many more. Through this we can also make cash India.

I personally feel that digital payments are an efficient tool. Corruption is at its peak in present urbanisation. Corrupt citizens are trying to hide their source of income and expenditure by various means like oversees bank and law firms. Digitisation will end all of it as it shall monitor a person's or a firm income and eventually lower the black money and various scams that we hear about nowadays, thus increasing transparency. Although, there are a few drawbacks to it like cyber attacks or unauthorised access to data, but it can me eliminated by employing updated version of software and regulated security system. Talking about the backward classes, empowering them is a tool. It's necessary to give the individual the platform to understand the digital economy. If we don't give them a platform we cannot think of making India better.