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

Yes, I do agree that digital transactions and payments in India will promote our GDP rate. We Indians are lagging in digitalization like online money transfers and certain criteria. Our NDA govt is encouraging digital payments and they have recently introduced BHIM app for any sort of online banking. And nowadays many people are using paytm app for quick net banking and I suggest it is very trustworthy and safety app through which we can make our payments and transactions in an easy way. But people who are living in most of the villages and who are illiterate are unaware of these types of digital banking. So my conclusion is that every individual who knows these things should encourage digital payments and explain for those people who are unaware of it.

Hello.

I am Somesh Rai and I believe that digital payments are not secure enough for the Indian Economy to go cashless as I believe during an SSL secured payment transaction made through any Gateway irrespective of the mode of transaction and automation there arises a point of manual human authorization/verification which poses a huge risk as no matter how secure you make a network it all depends on the person using it and how educated or smart he is to understand the risk of disclosing any information regarding it as it happens in Jamtara a location in Jharkhand India where a group of people targets individual transactions by accessing the confidential details of the persons by fooling them and get away after scamming people easily without any trace.

Hello, Friends.

I personally believe that digital payments is more secure for the Indian economy because it is easy, safe and secure to handle the cash. In this modern era technology is advancing day by day so it is very efficient and convenient to the people to go cashless. We can move around anywhere without any fear. It will reduce the robbery in our India. This new technology will help to improve transaction, online payments, credit, debit easily.

If it comes to the village people or rural areas. Our India is now in literacy rate. So if government give some knowledge and benefits about the digital payments, this will help them to go cashless with high secure. It will also promote technology and education. And also control corruption.

Thank you.

Hello, people. Digital payments have some good Advantages and disadvantages both are in need to be Balanced by the Indian government. Digital payments are just now to people mind late 2010 onwards. This way if payments help lots of people to save time for paying bills for the electricity bill, phone bills, etc. Without stands hours together in queue. Now it has made simple. On other hand, people have some difficulties in go cashless because they need amounts for emergency purpose, for paying roadside vendors. Moreover, illiterate ppl are facing very hard to come into this digital life. They are not actually exposed to it.

Thus I conclude that this type of technology improvement may be benefited for only upper-level people, not the lower lever ppl.

Our honourable prime minister has taken an immemse leap in the processings of the Indian economy by implementing e-transaction. Not only will it help to fight black money but also will reduce the percentage of raw cash running in our Indian economy. People, specially in the metropolitan cities who are aware of online payments should use their knowledge in order to use less cash and make it available for those who need it in the remote areas. But with the increase in cashless economy, fraudulent internet practices have also gone high. So people who are new to this must understand all the information first and then take any step. And if India is thinking to go cashless it needs to make the digital payments secure so that more and more people join in.

Yes, in my view, digital payments are secure enough to go cashless when we follow the rules and regulations. We see that digital payments save time and during this pandemic world the digital payments help us to go contactless, also in this busy world, it helps in saving time thereby increasing of productivity in work. It is secure enough as the national payment corporation of India provides rules and regulations for these digital payment apps like phonepe, google play, Paytm etc. It also helps in the reduction of corruption and also increases of transparency in the economy. But when coming to rural areas where most are less educated fear using these apps, so it is time for educated people to create awareness about these digital payments. Thank you.

Hello friends.

Digital payment is always a way to form a new India and Indian economy. This is the best way to do a transaction without any card or passbook. So, you don't have to carry passbook or other documents with you. Just one click you transfer money to one account to other accounts.

But, In my opinion, India is not very much prepared for that. All people have not enough knowledge about how this work. First of all, we have to do is educate all people about digital payment and it's benefits. And other is that make a security strong so cases like hacking or data stolen is not done in future.

All of that, Digital payment is beneficial for our economy and reduce black money.

Now time for digital India and see the growth of India.

Thank you.

Hello everyone.

I think, yes it is a secure payment option for every Indian. It reduces the theft rate also. It also save time it large manner. It make our things more easier than before. We only have to put our atm pin and holder name and atm no. That'it. And make our payment done but in previous we have to take our money in our hand and give it to the respective person. It also increase the theft ratio. So it is very much require that the payment should be digital and we should go cashless. But there is one other side also. Many people in our country don't know how to use computer and phones. So the government should take some steps to educate them also. It will take some time to go fully cashless but it is a better option in my point of view.

Hi! Everyone.

My answer for ''Are digital payments secure enough for the Indian economy to go cashless?'' is No.

Toady like other developed country India also needs a cashless economy. And the digital payments or we can say e-transaction likes,

E wallet.
UPI payment.
Paytm, Bhim, PhonePe, Tez etc.
E-banking.

Are good enough to do so, but they are not secure enough.

Because there is chances of cyber attacks, hacking kind of things due to lake of awareness towards digital education. Our Government have to taught the common people who don't know about these thins they are still using a simple feature phone. There is not even 3G in remote areas, so the company n Government have to make sure there is good internet connection available everywhere.

Digital payment is now is on of the major problem for the uneducated people. Because they don't know how to operate the devices like ATM and online transaction they only know about case transaction system which is running 10000 year.

The point is that people first people should aware of this digital payment system then cashless will improve our economy. If they don't know the the process how India become the cashless India. And before demonetization India economy is increasing now somehow it's decrease. Due to demonetization and GST which impact our economy.

And if India become totally cashless then the unemployment will increase because if all are done online somewhere the person who does the transaction of cash. He will somehow get affected.