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

Digital payments are good for Indian economy. Going cashless with a hand of liquid cash is a problem but the digital currency is safe and secure. But in rural areas the people don't know how to operate the digital payments, the government has to take the initiative to create the awareness in the public. They have to explain the advantage of digital payments to the public include how it works. The digital payments some of the events like hacking have happened even ATMs are closed recently, there is some of the satiety issues are proven due to those situations.

Digital payment is nice step taken by Modi. But it is not completely secure. There are some hackers which hacks our accounts. But digital payments is good for nature because of that we saves paper and also tree.

Hello everyone,

According to me, digital payment may take some more years to get more secure but it is something which was really needed for progress of our country.

Digital payment has saved the people time. Now people don't have to go to ATM to withdraw money and they don't have to wait in shops just to get the change. Many a times it might have happened that we end up in buying a extra things just because the shopkeeper doesn't have change and sometimes we may have let him to keep the change when we are in urgent. This kinds of problems are overcome by cashless payment.

Even cashless payment has led to more transparency in transaction and has reduced the corruption.

It might be difficult for uneducated or poor people to get used to this but it takes some time for people to learn new things.

Digital payment will lead to more research in Networking field and also increases the employment opportunity in this field.

Hello friends,

According to me, digital payments are more secure as there is no hand to hand delivery of Rupees. Also they are very fast at just one click we can transfer the moneys all over the world. No third party interference is there so more safety we get while doing transactions.

According to me, digital payment is the easy and fast method to transfer money.

It has overcome the problem of standing in a queue for hours to pay the bill.

Secondly, it has also overcome the issue of time, as in traditional method we need to wait for hours.

If we take an example of online shopping, ticket booking, online recharge, etc. So sometimes, there are exciting offers available, sometimes cash back, etc. So here we get the opportunity to save some money and we are able to pay in budget for what we want.

If we discuss about the security of digital payment, so I think there are two ways so that we can say digital payment is unsafe.

1. We should not expose our personal and account detail to any unknown person.

2. Hacking. It is done in some cases, but still cyber community is working on it to make the better security for online activities.

And the most important thing is that, today thieves are also confused that how to do robbery as there is most people having not physical money with them. And most of the times thieves are illiterate. So we can say digital payment is the best and preferable method.

Yes, I agree that Online transaction is good for Indian economy. As India is a developing country it is good to take such initiatives. It saves a lot of time. But we should not forget our villagers and backward people who don't know about online transactions. And cyber security is also not up to mark. So better security for online transactions and awareness among whole country would give this idea more success.

In my point of view, digital transaction is not secure enough. First I want to mention the meaning of the digitalisation, digitalisation means transaction without involvement of draft, cheque, and cash. One side where digital transaction makes our life fast and smooth, on the other side it makes poor, uneducated people into trouble. We all know most of the people of India are uneducated and even they don't know how to swipe the screen of touch screen mobile, then how we can accept that when they can go cashless. At the one side digitalisation increases economy, reduces paper printing at the same time digitalisation also increases unemployment because work are mainly technology and machine dependent. I think government should work on education growth and on unemployment firstly then digitalisation will take place automatically. If people will get a job then they can buy a Android phone and when they will be educated then they will know how to swipe screen correctly, and digital payment will be secure automatically.

At present, digital payments is secure & achieving new success every day if you see increase use of app in urban man life is phenomenal & you can connect the success story with the digital payment gateways, Yes digital payment is need of hours it make life easy for the urban educated men. But considering our 25% GDP coming from agricultural which don't have infrastructure & know-how for the digital transaction. And considering Indian literacy rate is low & there are seniors citizen who have very less exposure of digital payment & Indian villages where majority of population leaves they are very prone for digital transaction fraud & our majority of Indian people are not prepared cashless. So, it better to wait for & trained people for a digital payment gateway.

Hi everyone,

First of all, every coin has two sides. As like cashless payment have also advantage or disadvantage, all of my friends told about the advantage and disadvantage so I think I don't need to explain it but I want to include that cashless payment is secure enough but it cannot be applied now because there are many regions in our country where people are not aware of this. But after 5 to 10 years, it can be fully implemented because after Jio plan in India, children have easy access to the internet and they came to know about how to pay by use of apps (like paytm, bhim aap, mobile App etc ) or debit card. Jio plan also kept a vital role to go cashless India. I think it should be implemented slowly. And I m happy with that gov. Already have taken steps to go cashless India. Thank you.

As digital payment have lots of advantages like it reduces corruption, saves time etc but in present scenario Indian economy can't go cashless completely, it can go partially.

According to my opinion, digitization to be made more secure for practical use of it right today there are only 56% of people who mostly using cashless transaction and should be increased for sure by making people aware of comforts and my programming securities should be laid to avoid technical errors anyway our country is new era I am expecting that after 5 years there will be 85% cashless others will be small transactions.

There is no doubt that India is moving towards digitization. It is also an opportunity for us to make contribution into this wave. Our govt is making tremendous efforts to make this wave successful. If it happens, we can save our time and efforts. But if we think towards the other side there are some loopholes too. Aadhar data leak has been in news for many months. There are also many cases of balance theft or phishing. So, to check this, first govt should aware the common people toward digitization. Govt should check the availability of smartphones etc.