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

My dears.

As we see our topic is to discuss *whether digital payments are secure enough for Indian economy or not to go cashless. Of course, it's secure that's why we make digital payments but it also depends on how active and aware we are about security while making Digital payments for example whenever we are asked for save password while making digital payment we must check never save password also keep some security software so virus can't attack because virus don't only make our computer sick but also provide our data to whom who made that kind of virus. And if we face any problem related to security then we just can contact our bank.

So, finally, we know its secured to make digital payments for the Indian economy.

Thank you.

Hi,

Yes, Digital payments are secure. India is a developing country and development indeed, calls for changes. Gone are the days when people had to carry hard cash in brief cases. In today's world, it is highly risky and life threatening sometimes.

Digital Payments are safe and the path of transaction can be traced. It even helps control corruption to a great extent. With digital payments employed for any or every transaction, the black money generated can be regulated. The Digital Payments can be made very secure by the use of various anti-theft firewalls or technology being invented. We are part of an IT era and this can be used for our benefits. Therefore, Digital payments are secure enough for the Indian Economy to go cashless.

I take it as the side of coins as an India is a country of farmers and lots of people are below poverty line. They cannot afford to have smartphones and all to make payment digitally. They are not having bank account also.

On another side, digital payment is a good option for people of the cities as it makes work faster and no need to go to the bank and withdraw money. Money is secured from the thief all people will keep money in e-wallet so the chance of crime is reduced to the greater instance due to the digital payment.

This is an opportunity for people who are not known to the mobile facilities to learn payment and side my side in free tin=me the can have the youtube surfing and can enjoy or gather information of their choice.

Hello Everyone, According to me, It is a very good thing that India is going digital because as we know everyone has mobile in their hand whether the person is a rickshaw driver or car driver. Also, every family having kids developing in a new digital environment. Even for a child, they eat their food when we give smartphone to them. If the child is a poor person they also friends and they are also getting knowledge from other by going outings and all. I think if the payment would go digital then every person will learn the digital things either with children or with their friends. It also develops new skills in them.

And it would really be a great revolution in the country. It is a very good idea from my point of view. Go Digital!

Education has no end. It's a great opportunity to learn more about our money security. Now we can know our every transaction of bank account number by installing app of respective banks. Like balance enquiry, mini statement etc. It saves our time also. We can purchase any items online at our homes after proper verification on items, rate, quality, brand etc. Only we have to know its security. Procedure to be promulgated to all. Not required to educate every Indian. Only the youth is enough for a house. Elders who are not so educated technically should give freedom and belief on youth. It will help our next generation become digital. They will definitely improve their life-style better than now. Thus India will go cashless in future.

Online transactions are always prone to cybercrime. Also, the digital payments are not universally accepted everywhere. The digital payments have a transaction fee associated with every transaction that you make, if you take paytm as an example, it will charge you some transaction fee plus you need to have the connectivity and infrastructure and technology to use and transaction with digital payment methods. India can become a "Less cash" economy but it cannot be a cashless economy.

The cash to GDP ratio of India is smaller than that of the developed nations such as Japan.

We now rely less on cash but the advantages of transacting with cash are still not inculcated in the digital payments platform.

That was my opinion, thank you.

In my point of view, digital payments are secure for the Indian economy because in past few years we see lots of payments method (Eg: bhim, tez, payment) which not only go for cashless but also for the competitive world for nation because many nations have been going cashless like Singapore, Japan, Denmark, USA etc which strengthing their economy. In past few months, we see increasing in a number of the cashless method by every people of our nation directly or indirectly. That's why digital payments is need of life as a habitual in this queue line world. The NDA government doing a good job of becoming cashless or go cashless scheme. But the main thing is that to aware each and every people to go cashless. As each one teach cashless.

Hi, friends.

In my opinion, digital payments are not secure enough, because in a country like India where only a small fraction of the population have access to the internet and even fewer know how to use it, so they can never be sure about what they are doing. Nowadays a person can move money from someone's account if he has his debit or credit card number and access to his registered phone.

So, as tempting and convenient as digital payment is, India need some work to be done before switching to digital payment from cash-based payment like creating awareness, increasing the reach of the internet, providing people with means to access the internet.

The Cashless economy is need of the hour but it shouldn't come at a greater cost.

One of the interesting topic to be discussed because India is growing digitally like most other countries, going cashless or doing digital payments always haunt Indian people as they think their money might be stolen by some fraudulent. But for a growing economic sector in India, it a very good scheme that is now being practised. These benefits not even the educated but also the non-educated people in India as the government is providing non-educated people classes about how they can do payments online, mostly the old people who live alone and can't go much far for different bill payments.

As A COIN ALWAYS HAS TWO SIDES. THERE ARE ALWAYS RISKS AND BENEFITS IN IT. SO WE HAVE TO FACE ALL THE ODDS AND THINK POSITIVELY AND GO DIGITAL.

Digitalisation is governments main aim to transform India into new digital world in which everyone will access through internet for payments and other activities, this cashless economy has broader advantages like fast payment, high security, no theft unless and until each and every person of India is literate enough to access internet and able to afford it, for this gov should focus more on education at low rate. After every person can access the internet there also a threat of stealing data and money by cyber attacks for this gov must improve cybersecurity cell to defend safe and secure online transfers. Every person in can't use digital payments in daily routine so initially, gov must focus on "less cash" rather than "cashless".