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

Yes, Digital payments secure enough for the Indian economy to go cashless, as it is a way for India to develop in one more field, It is secure because it will not affect people to waste time in bank for cash. All in one it will secure time which is very important in today's generation but despite of Digitization we need to focus more about India's awareness about digitization as 40% of people are still unaware about cashless digitization.

If there is problem, there will be solutions. If there is cyber crime, other side have cyber security. The only need is of awareness. India is technologically developing. In todays fast life, Digital economy is performing crucial role. It is very time saving and security based if we follow secure system. For such reason awareness & education, trainings are necessary. Please go with official sites who guides the valid payment procedures and do not believe the information shared by social sites. Digital payment is smart technology which gives comfort life. We should follow the same. Going cashless and adopting digitalization is sign of success.

Let's not answer it impetuously, we should all put our opinion and come to a conclusion.

I would reply affirmatively to the question put in front of us, as I have efficient abutment for my argument.

If it wouldn't have been secure then why is government putting so many efforts in digitalizing and making smartphone and internet services cheaper and cheaper.

It helps the government of India to generate tax and keeps an easy check over individuals income and expenditure.

It reduces the concept of black money as the account is under government surveillance from a survey it was cleared that in India only 10-15 % of earning class pay taxes and as we know that taxes are the greatest source of capital for the government. It will definitely help in the uplifting of India's economy.

If anyone of you has any other opinion or want to support my thoughts that this is the best time to speak.

Hi friends, In my opinion, sudden complete implementation of any new Technology is difficult thus digitisation should be implemented in phases. It has certain merit like Being Robber safe and every transaction being open to Government thus tax robbery also prevented but it also brings few demerits like a threat of Cyber Crime stating that INDIA being among Top 5 Cyber Crime affected countries.

Thus steadily digital payments should be promoted in Indian Economy.

Digital payments are good as nowadays everything getting digital and to make India stand globally we have to adopt technological methods. Earlier people come to the bank and now bank went to the people. But there are 2 hurdles in making India cashless.

1) The Cybersecurity like recent ransomware attack has made people think is India ready for cyber attacks? And last year approx 36 lakg debut card were breached and also some unauthorised transactions being reported. All these incindents made people to thinkh avout digital payemnts.

2) The lack of education and awareness-various banks offer significant discounts on digital payments but hardly 10 out of 100 get to know about them or if they know they don't want to use their cards because of fear or some other reasons.

So before making everything digital or moving towards cashless economy, GOI should increase awareness and people should be taught about digital payments either by hiring business correspodants aur by orgainisng the seminar.

Yes, I think digital payment is secure enough for the India to go cashless. If all the transaction made by the peoples is through the digital mode then they do not have to carry money to buy anything. If the wallet or purse of a person is lost then the person has to just lock his/her card and their would be no loss of money. Large amount of paper could be save and so the trees as manufacturing of paper is obtained from the cutting down the trees. India has the most intelligent coders and hackers to save our cyber system from some infectious viruses. Last month some of the countries were infected by some dangerous virus and their system collapsed but India was not among them. Our cyber security of bank and other departments which have a direct relation to money is very strong, so people don't have to worry about their bank transaction id to be hacked.

According to me,

Going cashless is a very good step taken by our Indian government to secure our currency from theft corruption and fake money and also every time we need not have to bank for emergency need also it saves our precious time in a busy schedule.

But the issue is that everyone in our country is not much educated, so there is a lack of awareness about it, and also the cyber crime is the very big issue which must be taken into account.

It has its own pros and cons.

But we should support this for improving our country's economy and GDP.

Hi guys,

Our journey towards "developed country" is possible only if each and every citizen need to be developed technically, they should be smart at work. In this context there is a necessity in digital payments but, at the same time we also have a look at the rural areas, some areas are very backwards in development where there is no power supply at all till now!

So the main thing is first government need to increase the literacy rate and provide the required facilities like electric supply, etc. Then implement the digital payments proposal otherwise it becomes a blunder failure. Frankly speaking, in present situations digital payments are not enough to secure as we are facing problems with hackers and cyber criminals. So there is a need in development in secured websites, software etc. Then digital payments are 100% secure enough for the Indian economy to go cashless.

Yes, it is secure but at what level it needs ti be secured it is the main point. As digital payment bring transparency help in reducing corruption and it also saves time. Recently we have heard about ransomware virus many of us stop using digital payment methods at that time because of that. So yes digital payment method is one of the best methods of payment and to make economy transparent but it still questioned that how our cyber authorities will manage the virus and hacking or other malware activities. In digital payment, no one is questioning that digital payment is best but yes how secure it depends upon several things such as.

Our government has to provide digital knowledge.

The Literacy rate of India.

Backward area education rate.

So when people are aware of that yes digital payment is secure but still we also have to aware about everything about hacking and malware things then we can say yes it is enough.

Digitalisation is the big step towards development. It improves Indian economy and more convenient to use. It helps to reduce corruption and avoided black money. But every system has a good and bad side of the coin. Problem is that India is still developing the country and 80% people are illiterate and not so much aware about digitalisation. Most of the village are below BPL that's why they are not even able to buy a smartphone. And the smartphone is a most important thing used in digitalisation. Another main problem towards digitalisation is hacking. It is not long back when atm fraudulence disturbed a lot of people who lost money and quite wait for a long time to get it refunded from the bank. Soo more security is needed. Therefore India is not now totally ready to become cashless.