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

In my point of view, Indian economy is based on urban areas as well as rural areas so first of we have to do awareness in all areas about digital payments and cashless economy then people could use these services very well.

Friends, in my view, though India has suffered from a long time due to British rule, that has made it poor and illiterate that time and a servant by mentality! We must understand this thing. Why are we stagnating by our old thought process? Friends, it is now the actual time to bring revolution in our country for betterment. Change your mentality. And it is we, who will bring this change. In old Era we people's did not know what is Internet but now they are using it. Example, my grandparents or our grandparents, so why not can they learn a cashless transaction. It is so easy and it has been found that people's are wanting to get educated but they are not getting the correct opportunity. So if awareness is spread by our government or if we ourself promote the digital cash payment system in our nearby villages and locality then this change is not that much like a reverie.

Thanks.

My point is nothing is enough for any country or state they just have to keep going on with new initiative like this digitalisation.

My first point is while going digitalisation large amount of currency can b save which is just wasting in printing transporting and handling of notes. Also, digitalisation improves literacy rate in our country as while using digitalisation people need to know basic knowledge.

Secondly, money which is hidden by government comes back in the eye of our govt. From which they charged taxes and more budget will come back to our country.

Yes, digital payments is a secure way and a very nice step of Indian government to go cashless. Of course, it will reduce fraud, corruption and terrorism because the more liquidity in the market the more chances of corruption and fraud. Also, it will save time and efforts. I read all the comments above some are arguing that in rural areas most of the people don't know how to use ATM cards, online transactions etc. So I want to put a single point that only 10 years ago had they any idea about touch screen phones? Nowadays they are using it without any issues. Every good thing takes time, so it will also take some time and will be in line even in rural areas.

Thanks.

I think digital payment is very secure but in our country, many villages is there. Some of the village people know about bank. They don't have any idea for digital payment. Only some educated people are having the knowledge of digital payment. Majority doesn't have the knowledge about digital payment even they educated. More people not convenient with digital payment.

Hi friends,

In my opinion, demonetization is really a daring decision taken by our government. All of you said very well but I partially disagree with those who are against this. Actually, everything thing whatever we do has some good and some bad points, as it is said every coin has two faces. I agree that 60% of Indian people don't know how to do cashless transactions, but instead of criticising government decision if we will practice it we can definitely learn it as everybody knows practice makes a man perfect. Everybody want India to get developed but nobody is ready to change themselves. Even though we all know that the smallest viruses, bacteria etc also mutate itself continuously for continuing their existence.

Great initiative, but also coins have two sides so this process has one big risk is hacking. Stolen passwords, account hacking. Maybe affect surely. We need advance level of cyber security and also. Good software engineer they help in providing of good technologies in the area of e-commerce.

At present, NO but after few year definitely yes.

Keeping in mind the literacy rate of our country and number of people who know how to use the internet it won't be a great idea to completely digitize our money at present.

But what we can do is teach those people who don't know how to use an internet to bridge the gap. Which will not only practical is the scheme but also reduce insecurity?

Hello friends,

In my opinion 'YES' now India is ready to go cashless. Because if we look toward our population its now go beyond 1. 25 billion and so on, and its very difficult to manage that much currency in hand cash way.

Now in India as per digital market survey upto 60% population prefer to do online marketing instead of cash payment, that's good for us because it will time saving, no chance of duplicate bills, direct deal with merchants online that gives assurance of quality product, so we have to think about how to increase the ration from 60% to above that, by giving them special courses of training through a Indian secured websites, because as India falls under village mostly, so it will beneficial for all us.

Yes, digital payments enough secure for Indian economy to go cashless cause digital payment have many advantages about security with high promotion in villages we will get our goal.