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

In my point of view,

Transforming India into a cashless economy is impossible in the present condition of our country. On Nov 8 our honourable PM Sri Narendra Modi announced that RS 500 and 1000 will no longer be a legal tender. The main intention of this move was to make India a cashless economy.

The Majority of our population lives in the rural sector. According to them, cash is the king. They work daily for the running of their lives and also they are unaware of digital payments. The first step in the process of making India a cashless economy is educating the rural population about using the internet, smart phone and transacting through this.

This possible by the active participation of responsible authorities and the govt.

They have to introduce different schemes for Making this a reality.

Next is the security problems of digital transactions. We can't ensure that digital payments is more secure than making payments by cash physically.

Even our metro cities are also becoming preys of hackers. First of all strict measures should be launched to ensure the authenticity of digital transactions and security.

Govt also launched initiatives like PMDISHA, BHIM app for making India a cashless economy. Rather than introducing these types of initiatives govt needs to ensure the security of the digital transaction.

Thank you.

Yes, the digital payments are secure up to some level. Because nowadays Indian economy is facing many problems with currency. People are standing near ATM's for long hours to get cash. Through digital payments, one can transfer money, make payments, buy things, recharge mobiles etc just by staying at their own place. They can go cashless, this prevents from thefts.

Yes, digital payments are secure and benificial for Indian economy. Now a days every person is busy in it's work so if they will stand outside ATM's for hours then this will be loss of time for them so everyone do not want to waste their time to collect money from ATM's and then use that money. By using digital payments method anyone can recharge as well as make shopping from their home by transferring money from account to account via mobile phones. So overall digital payment is time saving, secure and easier to use.

Yes, digital payments are secured. But remebering the new cyber attacks we have to upgrade the new secured technology. Day by day it has to be improved. So that cyber attacks will never effect our digital transactions.

Acc to my point of view, digital payment are secure enough for the Indian economy to go cashless. Yes, it is a big challenge for the government to convince the people of India to support them and go cashless but if the government will go step by step they will surely achieve their goals. As we know that more than 60 % of the people of India live in rural areas and without their support, this s not possible because majority always wins over minority. So, the first step should be taken for them only, govt need to educate people of rural areas regarding online payment but before starting they should understand that the willl not be as easy as compared to other issues. So, they should run some campaign regarding the use of internet and educate them the full procedure of online payment and try to convince them to learn with having some patience. Because they are not having the knowledge of this at all unlike the people in urban areas.

Secondly, it should me made secure enough so that the people feel free to do online payment rather than handing them cash.

Thirdly, government Should again and again make aware of the pros of going cashless to the people n try to gain their confidence asap to get the better result for the Indian economy.

And we should help the govt in this by relying on them and promoting this but carefully.

As not telling anyone - your atm pin are a/c no are any confidential thing to the strangers are blank calls from the bank sd.

See anything can't be achieved so easily we need to do efforts to achieve the goal with full confidence.

Yes, ofcourse. Digital payment is most requirable & useful method to go cashless, to remove corruption. But with this we also to need educate peoples of village then only it will work from bottom to top peoples. My strong opinion is that we need to educate peoples first then this idea will work & its our duty to (educated peoples) educate peoples. Thanks.

If I would say "Yes" so there will be no exaggeration. Because there are lot's of benefit to get the economy cashless as per below.

1. People will start to use the plastic money which is safer than cash.
2. All the money keep safe in Banks for which we can get the interest.
3. If the money will be kept in the banks then black money will stop to spreading only in few hands.
4. The Government will have enough money to use in the country through which, enough development will happen in India.

So these are the benefits of cashless economy.

In my view, digitalising India would be very non-productive decision as we live in the country where the majority of the population lives in the rural area or we can say undeveloped area. Where the most important part of their life is cash. And where they don't even know what is a smartphone. And if in any case. They are aware of it. They don't know their usage due to which there are higher chances of getting their money misused by the third person.

So in such conditions, India can't go cashless. It needs a lot time to make India go cashless.

Digital payments, in a long run will probably make India a country free of corruption but let us not overlook the fact that not all the modes of digital payments are secure enough yet. It is not hidden that many of the mobile wallets have been hacked already. This prove that we still have to work on the software development for digital payment to make it free of loopholes so that it cannot be easily attacked by the black hatters. If this is done then Digital payments are surely going to make India a place without liquid cash.

Now, talking about the e-wallets reaching the rural and under developed areas, smartphones these days are not far beyond the reach of the common masses also the government is trying its best to make people aware and understand the need of going cashless. The educated and aware youth have also taken initiatives to make the rural and remote area people aware.

Summing up, the efforts are from all the sides to make India a better place to live in, free of corruption and from a developing country to a developed country.

According to me yes, it is secure enough because it stops corruption, black money etc. This will make India smart city or developed nation. It will take time but it is not impossible if everyone will support then obviously.

Our India will become digital India.

Thank you for giving me an opportunity to express my views Thank you.