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

So I want to say that everything has its own benefits and problems here our topic is digital payment is secure for Indian economy to go cashless. So I want to say that it's a brave decision to go cashless it's help in growing our country as well as it will stop corruption by doing online transaction govt can track all the transactions made by each individual and also it's will help in saving time, money, manpower etc. We don't have to carry huge amount with us anywhere. Whenever we want to make payment for something we can make it online by using a different app like phone PE, paytm, etc. It has a lot of advantage which we all know but mainly I want to tell about rural areas ppl what about them many all of them don't have a smartphone. About 60% of population of India live in rural areas now. They have bank account but there not enough money so they can do online transaction. Still, they are happy with their cash transaction and all govt have to look over it.

I think first of all govt should think about our rural people most of them are uneducated they don't know how to operate smartphone so how could they do Thai type of payment and we all know that during online payment if do mistake then our money will be gone and will never return even if you go to bank they will simply tell ask call center ppl they will tell.

So what I am saying is I am not against it but before going cashless we have to take are rural ppl that much capable so that they can except it otherwise it's not going to work.

So if our govt is only thinking about urban ppl then it's good many of us are using it already.

Hello everyone.

I think this topic is very much relevant to the current scenario as currently our Prime Minister promoting digital India campaign.

Digital payments are good option for quick and time saving but there is a security issue raise because the number of hackers and another miss conduct authorities take the benefit and miss use the account number or any digital payment. When Jio SIM is free then people use their smartphones and they learn about the payments and other benefits digitally. Cryptocurrency also used in other countries but in our country it's become very much difficult as there is no such system that we track the record So recently Indian government decided not to allow these type of currency legal. Some good aspects is also there of digital payments. We have not to queue in banks and the payments from one place to another becomes very much easier.

One more benefit is that as the payments become digital then all the payments get recorded and a little bit corruption stops.

As the cybercrime much increased due to this they appealed to the ransomware and the common man of the nation get affected.

In the last, I concluded that our country needs Smart people and much educated that they invest their money smartly.

Hello everyone,

Today's topic is about digital payment securement for the Indian economy. In present days as we see there is only one sentence revolve in throughout India which is "India become a digital country". For making digital country Narendra Modi take a step and ban all 500&1000 notes and start online transaction system which is more beneficial, & cheapest mode of payment. Because of this many apps become active just like paytm, phone pe etc. Nowadays, When you go to market, and see your wallet is not there so at that time you didn't get worry, you take your card and your payment. This all the app also exists before ban of notes. But after 9nov. 2016 there is no any other option for transfer money. Then peoples take the help of digitalization and make their all type of transactions. Digital payment also beneficial for our Indian economy. And thanks to Jio which provide free of the network all the day, old peoples get know about some benefits of a smartphone, how to use it. But there is also one negative aspect takes place which is cybercrime. Russia losses a lot of things because of this cybercrime. No of hacker increases day by day because of which cybercrime increases. And that's effect sometimes on our transactions. When we pay online fee or something our amount doesn't reach to our destination and amount get deducted from our amount and at that time bank's System are also enable to help you they just raise their hand. So at last I just only say that for make successful digital payments make a strong programming which are also not be broken by hacker and get fully knowledge about digital system of our country.

Hello everyone, our topic is, are digital payment enough secure to go to cashless?

As we know that everything has two aspects. One aspects is good and other is bad. If we talk about good aspects means if we say that digital payment is right for India. Because in today's world, almost every person is getting education. Also in rural areas, children are getting education. And almost everyone know about paytm, debit card credit card netbanking. I think when jio sim is free. Most of the people have bought smartphone. They know how to use smart phone. If they use smart phone. They use paytm, airtel money, netbanking, etc. Suppose, we take example, we go to in market and buy something. But we forgot our purse. At that time if we have a smartphone. Then we can easily payment through phone. Now most of the shopkeeper use the paytm, airtel money, credit card. And one more benefit is that if anyone give money in any charity. Then we can also know about that charity is using the money in legal way or not. Because when we payment through credit card, paytm etc. Then we can take receipt with mention date and time. If we fund any charity through paytm. At that time paytm send text message and also mail where our money is going to receive. Means we can also know that charity is using money in right manner.

Other bad aspects is, sometime internet connection is not secured. Means if we transfer money to other account or we can say that we use paytm or other any app. Sometime happens that we want to send money to other account but money is not send. Means other person hack the account and take the money. So I want to say that internet connection is only secured. But internet connection should be more secure. Means anyone want to hack account. He can not hack the account. And if he want to hack the account then something should that his some information should be hack so that we can easily know about the hacker.

If internet connection will be more secure then we can say that digital payments are more secure to go to cashless.

In my point of view, the digital payments are secure enough as the speed of transaction is pretty good and post demonetization people are going cashless internet is very easily available for everyone and various apps like paytm, phone pay etc are instigating everyone to go cashless as UPI is provided to everybody there is no need to worry about the transactions as they are secure end to end and they are encrypted also. It is one of the best steps towards digital India the cost which is spent is building ATM's can be effectively utilized in any other social cause as the funds are directly transferred and it's easy the possibility of money being stored any authority also get abate.

But here are some of the cons like most of the population of India belong to village its difficult for such a vast population to accept this kind of changes besides hackers are also one of the most enormity threat to the digital transactions as ever-increasing cyber crimes the digital cash is also not the safest way to keep money.

Security of the money is the major issue for the digital transactions.

Hello everyone, as per the topic, I can say that digital payments made our life more comfortable and hustle free. Now we are moving towards digital era, where everything is digital, then why not digital payment. It simply takes few seconds to pay to someone anywhere in the world. It also connects people throughout the world. Taking the image of Indian society, it has people from high class, middle class as well as lower class. Taking the steps towards digitalisation, might helps major people but it may be harmful for those who don't know anything about digitalisation. Before implementation of fully cashless, we make each and everyone to understand what digital payment is. When people really know what they are doing, they will take more interest in doing and it leads to more integrated by involvement of everyone. If we talk about security, many big IT giants for solving the problems of cyber attacks. Soo my conclusion about this topic is, Indian economy is not fully ready for going cashless as it has less involvement of people till now. People afraid to use digital payment, so first change the mindset of our people towards digitalisation that will bring the new age of society where everyone will be digital and payments will be cashless too. Thanks.

Hello everybody my point of view is that I think digital payment is not secure enough for the Indian economey to go cashless because now a days we are seeing that lots of fraud is going on through digital payment because if digital payment will increase lots of fraud things will also increase because I have seen that those people who are well educated are also got in this trouble it is not about literate or illiterate because in this world there are many smart and clever people who can make people Easley fool and if this kind of fraud happened with innocent people they can not overcome from this because might be that person is poor and did lots of hard work to earn that money and because of some online payment or might be because of fake call that money can be stolen from him and still in India there are so many people who don't know about the internet if they know they don't have smart phone or if they have smart phone they don't have enough money to get internet recharge so with this I would like to end up my topic I am not I favour of this.

Thank you.

Hello everyone. The topic given to us are digital payments secure enough for the Indian economy to go cashless?'.

Digital payments mean making cashless transactions by different modes like internet banking, mobile banking, UPI, banking cards etc. In my point of view, Yes it is more secure to go cashless because it reduces corruption as transactions are recorded and also it eliminates the waiting time in queue for withdrawing and transferring money.

But the thing is to create the awareness about digital payments to the people who are in especially rural areas and illiterate people. So to create government should do awareness programs like sending team members for a campaign, broadcasting in television about digital payments, etc. And also should maintain internet security beware of hackers by sending One time password to the user registered ID while doing transactions.

It is possible in next few years India will transform into digitally empowered society and knowledge economy.

Thank you.

Good morning everyone. I want to give my point of view on "Are digital payments secure enough for the Indian Economy to go cashless". Digital payment is that payment which is transfer through Digital signals, which can be easily modified and can be interrupted, but Countries government are trying to solve this issue by increasing security through cryptography and making Authentication better than past. So, from my point of view, India is not fully ready so other countries but not using digital payment is not the answer to this question. We should focus on making it more secure rather than not using as it is need of today's world.

According to Amercian Chipmaker, no digital payment app in India is completely secure. Right now, if someone says this statement, I would not agree. No doubt it has made life more comfortable. We don't have to stay in the queue for getting a cash. All records of the transaction are maintained which help to keep an eye on fake currency. It helps people to keep a track of their expenditure. We get discounts while purchasing goods through digital payments like 0.75% discount on the digital purchase of fuels through debit cards or mobile wallets.

Seriously it makes life easier! But with pros, there are cons. When it comes to security, it is not to much save.

A lot of fraud happens. Many people especially who are senior citizens and children are not properly aware of how to use this technology, how someone can access their private data and use their digital payment application.

As what about the poor people who cannot afford the internet connection, how they are going to access this technology. We cannot ignore them. So firstly we have to make sure with the passage of time, we need to more people to engage in this and our engineers in IT field has to work to make it more secure. When this situation takes place, then it would be better to say that digital payments are secure enough for the Indian economy to go cashless.