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

Hello everyone,

As per my opinion, digital payments are secure enough but some people are not aware of digital payments. The person who are illiterate they do not know about it. Government has to make aware of it so that all the people can take profit of it.

I think digital payments are one of the good and fastest methods. It not only saves time but it will also help to make our country corruption free.

But on the other side if we talk about rural areas they don't have facilities and knowledge. I would like to conclude that government should provide proper facilities and knowledge in rural areas in order to make our country go cashless.

I think digital payment is important for our country as cashless transactions will solve the problem of fake notes. It will also solve the problem of terrorism as terrorist funding will get stopped. Also, there will be no problem of handling of money with care as in case of notes where we have to protect them from water, from getting folded, etc.

Hi everyone.

In my opinion, digital payment is one of the ways of payment but not enough to go cashless. Because right now 70-75% people do transaction physically. They are not fully educated to do transactions they have smartphones but don't have the ability to use it the way it needs to be used. Yes it is very effective you don't need to carry cash with your self there is fewer chances of robbery and other cases. But at the same point, there are many cases where cyber attacks happen. Your money will be deducted and you will not come to know about that. Recently, data of many people was leaked from Facebook, in the same way, many times our personal details are also leaked. To make the India economy to go cashless first we need to have a strong connection and strong secure data protection.

Digital transaction are totally based on internet and in India rural areas do not have enough internet connections and due to low internet speed and low knowledge of digital transaction in rural areas they may suffer alot during transactions. But in urban areas people are very much aware so in urban digital transaction are easy but most of India is in rural areas so first we have to provide good internet connection and train people about digital transaction and security features then people can go to cashless economy.

Not now, but slowly we can after few years. The Reason is, a large section of people of this our country lacks digital literacy even though the capacity to buy smartphone and internet connections. The 2nd thing still a large section is not having an infrastructure for internet connections even few areas lacks electricity. 3rd we are facing the challenge of cyber attacks. Finally to adopt something new is always difficult. The need of today is to go parallel with technology.

To speed up the process we can make people aware and digitally literate by planning to organize camps to educate. Infrastructure for connection needs to be created. Healthy cybersecurity must be created.

Thanks.

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.

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.

Hello everyone,

I am in the favour of this topic, We can go anywhere and we don't have to think about money. Because ATM service is available in every place now. And we can do digital payments everywhere. And it's secure technique because everything is connected with the Aadhar card and we also use our phone no. To secure the account. And everyone should be aware of not giving pincode to any stranger person. So I think if we don't do these type of silly mistake then we can feel secure.

Thank you.

Hello everyone.

According to me, the digital payment system is not yet completely secure to undergo a hassle-free digital transaction. The increasing number of financial scams and cyber crimes are enough to prove this statement. There are still certain digital payment platforms where adequate steps have not been taken to ensure the security of transactions. While some online payment apps may be secure enough, some others are lagging behind with regards security of transactions.

Coming to the consumers of digital payments, there are different categories of people. One category includes people who are educated enough and have a good amount of knowledge about digital payments including the security measures to be taken beforehand. Another group of people are those who are uneducated and hence lack financial literacy. And the third group includes people who are educated but show negligence or reluctance in adopting security measures while transacting digitally. Therefore, govt organised campaigns, seminars and advertisements should ensure knowledge of ways to adhere to digital security in transactions among these people.