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

Hello Friends, As per my knowledge, the answer from me about this discussion is a mixed type. Because if we think in both the way, yes it is beneficial and also some amount of unsecure to Indian economy.

While thinking about customer side, it is beneficial because we can reduce less handling of cash in our pocket is the major benefit. There should be less cases of money thefts. We can minimize the corruption. All the money transactions will be A1.

While if think by other side, i.e. disadvantages are India is growing country but still so many illiterate people don't know how to use computer or they are not come in the contact of Internet. Also cyber crime/ hackers is problem.

However if we keep the disadvantages in side digital payment is beneficial to India.

As per my point of view, digital payments are secure for indian economy.
But there are some merits and demerits:

Under merits:-
# we dont have to stand in queue for transactions,
# we can do payments quickly through net banking
# we can track the paments via using a smartphone
# we dont have to move out with huge cash
all the above things are done by a set of class of people that is educated people,

Under demerits :-
# rural india is unaware of this process.
# this above facilities are made only by educated people
# people from the rural part of india cannot use smartphones
# rural part of india is mostly uneducated

So, I would ilke to conclude this topic by telling,
Thus government sholud take steps in making the rural part of India awar of these facts.

Goodafternoon,

The topic which we are discussing is a relevant one which our country is developing nowadays. As a coin there are two sides for this topic, that is the advantages and disadvantages. As we all know our economy is going to be a cashless one. The major problem which I found that there is a lot of people who is living in rural areas, who did not know how to use a smart phone properly. Those people are not using these kind of e-payment techniques due to the lack of knowledge. Somehow e- payment facilities are very useful for the rest of others. And the another problem is that there is less security. The accounts may be easily hacked by hackers. But at the same time this situation can be happened to direct payment also by the disturbance of thieves.

Yeah, digital payment system provided people with a lot of facilities. People can pay their various bills online and save their time and efforts by not standing in a queue. Also, it provides facilities to travellers from overseas as they can make their payments easily and also they will feel safe from not getting robbed. And I don't think so making digital transitions is totally unsafe because the government is taking a step forward to make this transitions safe from hackers. Also, in rural area's today's generation is not only educated but also knows what's the internet is and can Handel the smartphone without much difficulty and if proper awareness about digital payment is spread then people all over the country will be able to make the digital transition.

Being an Indian, I love to except digital payment system why because we want our country to be developed and want best facilities. How will it come true? By not depositing our incomes in banks and not paying proper tax to the government. NO, digital payments system is more transparent as compared to paper currency. By accepting it by us, the government can receive proper tax on each transaction. Then the shopkeeper cannot put tax income in their pockets. They have to give that to the government. I know we have to handle difficult situations if this comes in a rule. And the youth of India is ready for this change And we want to give the developed country to our coming generation. So it's important to take hard decisions now to change and develop our country.

Hello friends.

We are discussing about is digital payments secure enough. In my opinion, these modes of payement are more secure than any other payment modes it saves our time and gives the suitability to make payment. As you all know that our honourable prime minister Narendra Modi announced the digital India scheme. This is a good initiative from our government. The government also introduce the online payment app BHIM. Now we will talk about the security of the digital payment modes. At this time we have the infrastructure to secure the digital payment. There are many systems like one-time password and we also have the cybersecurity experts in the banking system. So finally we can say that in our country digital payments are secure enough to pay online.

India is a country of 1.2 billion people with around 40 crores of them live in rural areas. With the passing of time, India is making its under the umbrella of Digitisation. But this digitisation still has to travel a longer path in order to make India completely digital country.

Going cashless with transactions in India is still hard nut to crack because lack of PROPER CYBER SECURITY, LACK OF AWARENESS AMONG PEOPLE, LACK OF PROPER GOVT ASSISTANCE, LACK OF INTERNET ACCESSIBILITY IN REMOTE AREAS, AND ELECTRONIC GADGETS.

India is habitual of Doing most of its transactions through Cash whether buying vegetables to buying a car.

I think cashless Indian economy will only be achieved only if the people of rural areas are aware of WHAT AND HOW to go cashless ?

Yes, Digital economy is very useful for today's world because now time plays a very important role. In bank, we don't have to stand in queue to transfer the money etc. We can done our payment within fraction of second because of digitalisation and by some app like Paytm, BHIM etc. It reduces the risk of theft also. By taking this step our country moving toward as a developed country. It also helps to reduce black money. If the payment will done online then they have the record of every transaction. It will increase employment in several fields.

And no because, in rural areas they don't have idea how to do payment online so it is risky for them. Government have to focus on rural areas or they have to run a programme to make them aware of digital economy.

As every coin has to sides head and tail. So, going for the cashless economy is a very great attempt. But it has its own pros and cons. So, therefore to take any step we should one step ahead of all cyber crimes and other viruses problem. Because if we don't take any precaution regarding digital payments and opting for the cashless economy. Then it could be a disaster and very bad effect on our economy. Like recently wanna cry (ransomware) attack has shaken the economy. So we have to be well prepared to deal this kind of viruses. As per my opinion, it is a very good step but same way risky. If a person is not well known with the online deals and use. As most of our rural people are not well trained or litrate use of online payments and transaction deals.

Yes, we can say that we are protected by digi- economy compares to early. We have no tension during walking on the road as no one can filch cash from us. But. Till now, India is not fully secured by the digital economy. There is the use of cash for any complete transaction due to the presence of illiterate people at corners of the country. So we can't say that we are completely digitilized. But the government should take responsibilities to develop the country. As much as possible. It's true, not a time of matter. A Long process. Have to do by government Mukesh Ambani teaches us about data usages. Lot's of people now use data or pay cashless.

The Government should take this advantages and increase the way of using the data or make the cashless country.