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

I think digital payment are easy to perform, but still now in India digital payment are not fully secured because most of customer loss their money by cyber crime or cyber hacker attact, no doubt digital payment are time saving but to perfome this transcation one can khown how to make it so every person must be litarate with digital senerio.

In my point of view, digital payment not that much secure in India due to the poor infrastructure of going online. I also point out the scheme happened with the SBI customers, their debit card details has hacked. So if they are not saving form the hackers how we are? I also want to say that we are welcoming the steps occurring by the government for making India digital, this can not happen in one day probably we need good cybersecurity because only poor can understand the value of 1 rupee if he will lose.

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.

In today's world, mobile has become a part of almost everybody's life. There may be the cases when people may forget to carry their wallet with them but they always carry mobile with them. So in those situations, the mobile wallet will be a help to them. It is not only making transaction fast and easy but also helping our country in becoming cashless to stop black money problem. But along with these pros, there are some cons also of this concept. Not all people trust digital transaction due to security reasons. And also there is less awareness about this concept. So on increasing the security of these digital payment apps and also spreading awareness about it will one day make India a cashless country.

If we are talking in context to present Indian scinerio, digital payment is more confined to urban areas. For rural areas digitilazation have to go through a lot obstacles like electricity, internet issues, illetracy ect. India is lack in literacy, so it first hard job to make people know about digital payment, after this we have to make him believe about its security and benefits. As in India people are not so educated so they are more prone hacking. So it's government responsibility for security of digital transaction. Finally, reference to present scinerio digital payment is secured for those who are educated it is insecure for illiterate.

The digital payments nowadays are no more secure.

Let's take the recent incident that happened with the TRAI Chief RS Sharma by just trying to prove that nothing can be done with the aadhar number and posted his aadhar number.

Online and challenged hackers to crack this. Very soon Rs 1 was deposited into TRAI chief account by some hacker.

So we can conclude how secure the digital payments nowadays are.

From my point of view, I think India is presently not ready to deal with digital payment and make the country cashless. Still, most of the people have strongly believed in a cash transaction. For example, if we want to pay any amount in metropolitan and cosmopolitan cities like Delhi, Chennai etc in India through digital payment that is acceptable I mean we can easily pay through digital mode. But on the other hand, if we go to the rural area in north and south states than we will face the problem. Especially if I am taking the example of a rural area in Bihar, Jharkhand and Uttar Pradesh. There are no changes in their thinking towards digital payment it may be because of lack of awareness, lack of infrastructure, digital communication and other digitalization. If we are talking with respect to economy dan the main reason is -most of the people depend upon primary economy i.e. Agriculture and they have strong faith upon cash payment because lack of education they don't know how to operate the digital mode.

And technology is still developing to make it more secure that's why I think digital payments are secure to go Indian economy cashless.

By doing so we have to educate the people about the digitilization. Hence we all know that therr are so many unware of digital payments. Only after educating peole towards the trend we can secure the Economy of our country.

Here we are discussing about cashless transaction is secure enough or not, in my opinion it is secure enough and it is true that immediate after demonetisation cashless transaction was increased by 300 fold due to lack of cash although it is now deceased much less. But from that point of time people move toward cashless transaction, still large number of cashless transaction happening in India than the prior demonetisation time. If we talk about security then we all doing cashless transaction daily and we are not facing any kind of problem regarding security. Now a days UPI gives you OTP, UPI PIN, like security feature and all is going in a write way. All people gets every notification on mobile regarding transaction so no need to worry about stealing, although there are some unawareness and illiteracy about cashless system but increasing interaction with smartphone, and attraction toward ease in cashless and some government awareness programme definitely will make the people used to it. Also there are customer support and is ready to help us regarding security and cyber security of India is always have their eye on suspected transaction so undoubtedly I can say we are secure in terms of cashless system. Thank you.

Yes, I am in support with the view that digital payment is secure for the Indian economy to go cashless because everything is so easy and confidential so that people feel secure and invest more in any good. Also, it's not only contributing in financial perspective but also from the social perspective the people from the village to the city are now more literate about the bank and its services and this will help to build trust in government and its policies. The incident of being theft reduce because of the transparency and accuracy in government services its all lead to a secure caseless system in India.