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

According to me, if digital payments come then it will come with advantage hand in hand disadvantage. If I talk about advantage I found there is no black money which is a big problem in India and there is no problem during purchasing the material. By this method, Indian economy will grow up but here main disadvantage of that is internet problem lets suppose I am in the hospital and pay. To the bill of the hospital but the slow speed of net and any trouble in networking. Money has not transferred or I have to face the problem In hospital. In another hand, in India, about 70% people are not literate and there is no digital knowledge in many villages so this policy could be harmful to many illiterate people because money is everything for spending the life. Our all business depends on money so we are be all careful about it. Thank you.

Hello everyone, According to me it is good initiative to make the payments or receipts cashless. Digitization is secure enough if we will not share some privacy information of our accounts to the another person. I have been using cashless payments and receipts since 2015, it saves time, saves money and it promoted the economy of our country as the transactions can be done vary fasteily. I think is vary good initiative taken by prime minister but on the other hand if we talk about accessibility, the people who are from rural areas has not been considered, they are not able to access online either they not know how to swipe debit or credit card while purchasing. So it is need of hour to educate about cashless those people who are totally illiterate through various workshops if we want to make India modern and developed. Thanking you.

In my opinion, current digital payment systems are secure enough for daily transaction. Currently we have two factor authentication system in place, which includes one time password that is sent to mobile when someone tries to make a transaction. The system can also be made more secure using latest tech like blockchain technology.

However, as the question is here about the transaction of Indian economy to transact from cash economy to cashless, the Indian economy is in a nascent phase for that. Still in the villages or tribal areas, the population has little to no financial inclusion. Additionally, not many people are technologically educated.

Thus, the best solution for the Indian economy would be to build an economy which features both cash and digital transaction methods. We need to become a Less-Cash economy before Cash-Less.

Digital payments according to me are more secure as compare to that of paying the payments offline but as we all know that the people of India are literate rather than educated so if the government is planning to shift these offline payments to digital payments fully so they have to create some awareness programmes so that the people those are not aware or have some fear to lose their money, will able to shift themselves from offline to digital one. Offline payments are much time consuming and in place of it the digital payment is the option that is time-saving and secure enough to pay. As we all know most of the developed countries like USA, RUSSIA are following the digital payments and are the examples of the secure payments so if we want to be the developer from the developing one than this change can also be the reason for us.

Hello everyone,

As we all know that it's not just about security, its also about educating people for cashless transactions. With a lot of advantage of cashless India, there are some measures which should be taken to make India completely cashless.

1. The government should give some benefits to rural area people for cashless transactions. Also, they should go for more campaign and advertisement and be making them aware of thefts, hacking etc.

2. Also, the government should limit cash transactions to a certain value to minimize black money.

3. They should make it more secure so that people believe it completely.

4. Facilities such as internet connection, electricity etc. Should be increased particularly in rural areas.

And also Rome was not built in a day. So, obviously, it will take time for India to go completely cashless.

Today India is not that much technologically advance to make the digital payments secure.

Even people are still connected to the old banking system and they don't know anything about the online transactions.

Even after a big smartphone revolution in India people don't believe on the new era online payments. They have a misbelief that their money is not secure during these transactions.

People who used this system were brutally cheated many times. So, people feel that the money will be not secure and it can be taken by the hackers.

Talking about the cyber security of India. It is not good.

So, as per my views first, the cyber security of India should be strengthened then the further steps of inculcating the cashless economy should be done.

The smartphone users are taught to use this system for their transactions.

Thank you.

In developing country like India which has a huge population, it is difficult to make all citizens aware of the technical services whereas we are not fully equipped in technical aspects. The idea of pm to go cashless is not satisfied all of the scenarios but it is a good initiative. In my opinion first before making Indian economy cashless government have to provide some basic plans or schemes in which technical people teach the villages citizens and all others about the digital payments process.

In our country, people who belong from rural areas are totally unknown from current technology so it is quite difficult for them to understand the procedure of digital payment whereas they even didn't know about ATM or internet banking.

Again, I repeat my words its a good initiative but government have to implement this after few year.

According to me, Indian economy should go cashless because this step will surely help to remove the biggest disease of our country that is corruption.

No doubt, it will definitely bring the transperency in our system and with this many of our problems would get solved like -no need to carry cash everywhere, accumulation of money in banks would allow the government to make the use of those money for the development of our country and it would also help our economy to grow. But still this can only be done by the people who are literate and are properly aware about the pros and cons of this issue. Most of the people living in rural ares are not aware with this. So I think firstly the government Must enforce the campaigns and seminars in rural areas to make the illiterate and poor people acquainted with this digital payment method.

Yes, I agree about digitalization payment but we know that every thing has two sides bad and good. Bad thing is that we India don't know about cash less system, operating smart phone transaction, and using atm. Because of that we feared about operate online money transaction. We think that if I do something wrong. Whatever life is a full risk without risk we can't ahead but the good side is that we know about online transaction there are many benefits like that time save, no documentary harassment, easily access any kind of digital payments.

Otherwise, the government will be easily tracking all accounts holder's it's will be very healthful preventive of corruption.

So government should be taken legal action that each and every family minimum one person should learn digital payment and make a too much secure online transaction.

Hello, everyone.

As far as, our country is concerned, India is still developing. So digital payments will obviously add up to the development of India. But this depends on the citizens of India. Eventhough we are the second most populated country in the world most of the population are illiterate, living in the rural areas. They don't have the enough knowledge of how to make a transaction via smart phone or internet. Then what is the point in making digital transactions. When security is concerned, the security is very poor. Until people get convinced that their details or money or etc are secured they will not willing for digital payments. Terrorist attack happens and these people stalks the personal details of common people. So the govt need to work on the security as well as making indians literate before taking such a step.