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

Hello, dear friends.

The concept of digital India is very good and helpful for Indian economy. But first of all we have to develop and provide the internet facility to all peoples in a rural area and also generate awareness and trust among the people about benefits of cashless transactions. We also have to improve transparency in digital payments and built a strong shield to avoid cyber crime. The laws regrading cyber crime must needed to upgrade and more punishable.

In my point of view,

Digital payments secure enough, but the small-scale business will get the affect. Even nowadays many small-scale businesses based on only cash.

Yes! Absolutely digital payments are secure if we maintain our online accounts properly.

There are lot of advantages are there with digital payments especially we can demolish corruption, black money and no need to carry cash all the time with us.

The only thing we should do to secure our digital payment is to educate and bring awareness about the digital payments especially about how to secure our login credentials and how to maintain online accounts to the illiterates and in rural areas.

As every coin has two faces, just like that it is associated with some drawbacks. But due to it's numerous advantages I strongly favour cashless economy. The only thing that is required is we should be alert enough while going cashless. Many fraudulent sites are there claiming to be fast and safe we should not believe such new popup alarm unless we are sure.

We know that online payment is easy but it is not as secure as we think, we have to fallow right instrection and must be sufficient knowledge of about onine tranjection. When we use online tranjection we have to be active and don't be careless at that movement when we doing that. If we are carless on during online tranjection your account detais can be easly hacked by a hacker.

Yes, Because in this country have a big population and we need a big economy, making digital payments is secure in India because very strict terms and conditions of Indian government on Banks which are member of RBI in some area fraud apps and local banks are miss generating public by cheating them so in this India everything is secure and banking also very secured and this is helpful to save the time of public and they are using their account by themselves only and each transaction will be recorded and auto-generated messages by banks I think digital payments have enough secure.

Unless and until we share our password and OTPs this is going to be very useful in many cases through digital payments. It has become easy for any amount to transfer, payments, recharges. Etc at any time securely.

Yes, I agree with secure of digital payment in Indian economy. Were it is not only reduce the work load but it also provide safety. Not everybody can make a transaction the one who have their VPA can enter into their transaction. VPA is the proper and secure to holders. Where now airtel introduce the digital payment app named airtel safe pay with huge safety measures. The digital payment plays a vital role in the Indian economy.

Yes, definitely this is a decision that will make India a developed nation instead developing, in near future. Imagine if every single transaction is made digitised then there will be no black money and if there is no black money, the government will have enough corpus to invest in different beneficiary projects. Government borrowings will be lessened and that will boost our economy. Definitely, it will take some time to be implemented in rural areas so government should organise awareness programs to aware rural people.

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.