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

In my opinion, since many developing countries have adopted the digital payments so India is also ready to accept the challenges and encourage the digital payments to go cashless. Digital payments are being done by many people in urban areas in India. Also in rural areas people are learning the ways of digital payment. Government has taken many initiative to encourage the digital payment and make the digital payment easy for everyone. Of course there are some security issues through digital payment like account hacking, phishing and cyber threats etc. But when we use hard cash there are also risk in that like robbery or we lost somewhere in market and etc, so it all depends on us how carefully we use the ways of digital payment. Also, there are some authorities which can help us if any problem happens so we should use digital payments carefully to make Indian economy cashless.

Hello guys. In my opinion, the digital transaction is more secure as compare to carry cash. But those people who live in rural area they have no internet connection and most of the people illiterate they are not aware how to transfer the money by using an application like payment phone pay etc. So it's a difficult for that people.

In my point of view, the cashless transaction is more secure and ease no doubt in it, but when it to comes to India we have to consider some facts about India i,e.

1. About 40% of the population is illiterate.

2. About 35% of the population still dream of electricity.

3. About 30% of the population live below poverty line, so for them to buy internet connection will be a great difficulty.

However, having said that we have to move towards cashless transaction at some point.

So in my view, we should move towards cashless transaction with considering the above facts such that both modes of transactions go hand in hand until India is fully equipped with facilities for the fully digital mode of transactions.

Hi everyone, as we all know that India is a developing nation & very soon we will. First of all, I would like to say that its a great move for India because through this most of the transaction will be transparent, which will help to reduce the corruption, black money and scam. Through digital payments, government will receive more tax which government Can use in the growth of the nation. Es, I agree that there is a very big difference in educated and illiterate people but gradually this gap will be 0%. Indian has a great technology and according to my opinion we ready to do the digital transaction.

Yes, Digital payment are more secure than manual payment here are some valid points.

(1) when you will carry more hard cash, there is always higher chance of robbery or any theeat. So you cannnot carry large amount of hard cash.

(2) Now a days digital payment are safe and we can easily monitor our account. Payment gatway agencies provide proper security to their transaction website.

(3) we can use certified application for amounnt transfer like tez, freecharge, mobile or internet banking of any bank.

(4) Need not to carry large amount of hard cash in this aspect digital payment mode are much safer than manual transaction.

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.

Yes, digital payments are more secure than manual payments. Because it saves hard currency and also easy to transfer money from one account to other rather than money order etc. Also the trees can be saved through encouraging digital transactions. As well as, we know that there are many obstacles in our country viz. Poor internet connectivity in some areas, poor knowledge of computer in middle age people, costly internet data packs. Because for digitalized transactions internet connectivity is mandatory, so internet data should be available in lower price. Cyber safety could not be ignored.

Hello everyone,

In my opinion, digital payments are secure enough for the Indian economy to go cashless, I would like to enlighten some facts which will give the favour to this burning topic of discussion. As we all know that India is developing country and being a developing it is a good initiative taken by govt of India, as being a partner in digital transaction will help us to transfer big amount of money for our necessary work which is totally risky in the cash basis transaction.

Secondly transferring money through digitally will save us our lot of time and for rural area locality who are not so educated it will help them to learn new thing for safe and secure transaction of their money.

Thirdly and most importantly there is no fear of pickpockets and it also help to reduce the corruption which directly and indirectly will help our economy to grow.

In the end, I would like to conclude that digital mode of payments are more secure than cash-based payment and we all should be being a part of this good initiative in order to reduce corruption and help in the growth of Indian economy.

Thank You.

Yes, Digital payments are secure enough for the Indian economy to go cashless.

Advantages of digital payments are.

1) paperless.
2) queueless.
3) online payment for essential need like EP, Property and Water Tax, Insurance renewal paymnts, etc. , and online shopping helps us to save time and money.
4) reduces corruption if this digital payments are made mandatory in all the state and central government sectors.
5) reliable security provided by the service providers to make digital payments. (through OTP/Grid numbers/Email confirmation/Hardware token).
6) People are encouraged to use digital paymets by offering discounts.
7) blackmoney can be eradicated if digital payments are made 100% available.

Disadvantage:

1) only Educated people can avail this digital payment option.
2) illiterate people cannot use this digital payment.
3) some of the shops/gov sectors are still not upgraded to use digital payments.
4) if credit/debit card lost that troubles us.
5) still Bus and Train transportation payments not digitised 100%.
6) court fees payments are not digitised 100%.

Overall digital payment options is very useful for the educated people who know how to use it, whereas illiterate people may not be able to use this digital payment. Training has to be provided to the uneducated people in order to make them to use this option. At the same time, each and every citizen should take it as their own responsibility to help uneducated people to educated how to use or help them to use this option.

As per my experience with the digital payments, I think they are safe. We get a notification on our phone as well as mail as soon as the transaction is completed. If sometimes the transaction is failed and money is debited, that money is also returned within 5 hours to one day.

1. It's time-saving.
2. Effortless.
3.Reliable.
4. Saves paper.

Government should take initiative in educating rural people. So that they could also save their time and effort.