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

In my opinion, digital payments are growing to be secure in many ways. Apps such as google pay, phone pe offers payments between any bank A/c, 24/7 monitoring is done to prevent any unauthorized access, Bhim the government provided app for upi fund transfer is also taking measures to be secure day by day. We cannot just load all the cash digitally and move to a remote place and buy goods there it is difficult without some cash in our hand for example- paying for street foods, in small puncture shops as they don't know what digital payments are they need money cash on their hand. I don't say that digital payments are insecure govt should educate people on digital payments and make them understand the use of it, by this if digital payments reach every nook and corner of India the govt automatically take steps to make them secure.

Yeah!

The digital transaction is secure enough in India and the major factor behind is a huge IT sector developing and flourishing in India (Banglore and Hyderabad). However, It is true that there is nothing absolute secure in Cyberworld but we can be ensured that "walls are high enough".

Beside this one more difficulty in putting India cashless is that still, a majority of Indian population live in rural areas where people are either illiterate or not aware of the security of digital money. So one can easily still money from their accounts so Government should first try to make aware them about how to make digital transactions, its benefits and security methods so they could also protect their valuable money.

Meanwhile, illiterate people can continue with hard currency transactions there should not be any force on them.

In India, we have most number of youth who are educated, in other hands we have so many rural areas where they have no banks and they don't know about RUPAY or ATM cards, in present 2017 budget central govt doesn't come with any new policies regarding cashless. These are some steps that are necessary to improve cashless India.

FIRST SELECT SOME 6-7 STATES IN INDIA AND APPLY THESE STEPS.

1. Give tax benefits who are doing online transactions.

2. Govt should create awareness to the people.

3. Enlarge banking system to rural areas.

4. Gave some offers who are doing online transactions.

Major problems why people are not interested are because of;

1. During online some times server problems.

2. Improve some apps like PAYTM, FREECHARGE etc.

3. Central govt should spend the necessary money to improve digital transactions.

Hello everyone. Myself Ratnesh and in my view, Digital payment is the best way to fight corruption and black money. But it will take time to be completely implemented in India since it is still in developing stage and a lot of villages and places are there where people don't know about digital payment. There should be also some rules and activities to aware those people fro digital India which will lead to the next step of Fight against corruption. Yeah, I m also admitting the fact that it is not completely secure since there are corrupt people in the bank who leaks the personal information of the common man which is the threat for the cyber security. So for this, we can fit the camera in each room of the bank with the proper audio system and also there should be some strict law and order for such kind of illegal activity.

I believe digital payment is a part of a CHANGE and everybody needs to understand it and take it in a positive way, we have been living in a paper currency mode for a very long time and most of the people are get used to of that and its not a bad thing at all but when the govt tries to come out with a change and transforming it into a new technical mode then what is wrong with it?

People will get employment, first of all, the latest apps that will carry out these digital transactions will be made by guys among us and they will get their money.

Secondly, the TIME factor, digital payments are done in a fraction of a second.

Again it will be a morale booster for the IT sector, they will come out with a more secure way of payments in future which will be beneficial for all of us.

A change is always GOOD and REFRESHING.

I didn't support for digital payment system or to go for cashless in our country because of below reason.

1) AS it is a new move in our country from previously people are accustomed with paper-based payment system they didn't have trust because they feel this move is not secure enough keeping point in the mind of cyber crime.

2) People from rural area due to lack of awareness of cashless transaction they feel insecure of using it they didn't feel safe or you can say it happen due to lack of education.

Conclusion: For populating digital payment system in our country first people must be educated enough to know about its pros and cons. Secondly country has to build more secure gateway so that cyber crime cannot take place this will also be beneficial step for contributing fast as digital payment system in our country.

Hello friends. There is no doubt to say that digital payments are secure enough for the Indian economy to go cashless. This is going to be so helpful in future. We can make any transaction at any time, and the account holder have all the updates about his account transaction. It also protects our nation from the corruption because all records get saved in database i.e. the information about the receiver and the sender is already verified. I want to say one thing that India's literacy rate is at 74.04%. So what about those who are not literate, they do not have any idea about Digitalization and even can't use the Smartphones. Then can ask for help but there is no security in that case. So if we want to make our country purely cashless just like Canada, US etc, we to remove illiteracy and poverty too from India. Thanks.

Digital payments have become a trend in today's expanding economy. I guess its secure enough as before any payment the owner of the credit or debit card gets an OTP (One Time Password) through which transaction security lies within the hands of the owner. Digital payment has helped people in various day to day activities like from paying for groceries to paying rent. Not only this but students can apply for colleges online in spite of standing in long queues for hours. People can even buy luxury goods from abroad countries through digital payments. Digital payments have smoothened the flow of operations in the economy and the government is taking steps under the banner of " Digital India " to make it more secure. So I stay with the point that digital payments are secure enough for the Indian economy to go cashless.

I think digital payment is a great concept which will help our country a lot to proceed on the path of becoming a developed nation. It has both pros as well as cons but if we compare these I think pros are more. All the transactions performed digitally helps to save a lot of time and these are transparent and traceable which helps to overcome the problem of black money. The only challenge is spreading awareness about their use among the backward areas. Help centers should be established which can assist people on how they can get benefited with the help of digital payments. Coming on to the security part hackers and intruders will find their own way, the risk can just be anticipated and not just completely eliminated. The only thing we can do is just use trusted sites and software for carrying out the transactions.

Well, digital payments still need improvisation. Recently we heard about warcary ransomeware attack across the globe. It affected thousands of business. But also it shows the level of internet security. It showed us we are still doing our internet transactions in a vulnerable platform giving nothing more than anarchy. Even our governmental departments are not going safe, who are the souvenir of trust for us. How can we trust of our own safety? We can't totally eradicate this problem but we can prevent it by following simple rules of digital safety. Like we can use credit cards wherever will be possible for transactions. Always change your passwords in regular interval of times. Do not share your information to any phone call representations claiming official enquiry. It is safe to go the nearest branch physically.