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

Hello Everyone, In my opinion, the digital payment are not good for the Indian economy because most of the rural area do not know about the digital payments and in the rural area always there is a always a network problem and in the digital payments network problem is a very big problem and.

In most of rural area many of the people do not have a bank account.

If we talk about young generation then we easily go to a site like if we want to book train ticket then we go to the IRCTC site and securely book the ticket but if we talk about old generation then he goes to any site and wants to book the ticket which may compromise the data.

So, according to me, digital payments is not secure right now for the Indian economy.

Well according to me, we should look after both the faces of a coin. I completely agree that digitalization is good but everything has its own pros and cons and we could not neglect it. THERE are many benefits of going cashless as we are directing towards becoming a smart India. We will face no problem of change. We will be able to complete or work just by sitting at home via our smartphones but from here the problem starts in a country like India it is not easy for everyone to afford smartphones. One cannot say to rickshaw pullers bro listen I am doing paytm to uh. So digitalisation is good but it matters at what stage it is being established. So after keeping everything in mind, I think we should jump to conclusion.

Digital payment is like a double edged sword it has many advantages. But it is not secure. Around 40% peoples of India are illiterate and even those who are literate prefer cash transaction rather than digital payments. For digital transactions, peoples have to take care about their password, OTP, user id etc. Which is not possible for illiterate, rural peoples. Government has to create awareness among peoples to do cashless payment in an effective way (ie, they should not tell their password, OTP to anyone. And if our economy will become cashless it reduces the cost of printing of notes, decreases the cases of robbery and also reduces corruption. Cyber crime is also a major problem in the security of digital payment.

According to me, introducing a cashless system in an Indian economy is a great step taken by Indian government that is'digital India' scheme. Digital payment are quiet safe, secure, simplest and fastest way to transfer the money. Person do not have to carry money in his pocket which make the person relax while traveling. Just we have to carry one card. When application like paytm, freecharge, upi, mobiquick etc came into the market they have completely changed the era of payment transfer. Internet banking, debit card, credit card and wallet payment very easiest and safest way for payment. As each person have it's own user id and password for login and also otp password linked through mobile make it safest and secured.

Hello everyone,

In my opinion, digital India is a good idea which make our transactions quicker and easier within fractions of seconds and it is the modern technology which can have better control over administrative and finance. But as we know for every thing there are pros and cons by using online transactions there arises security problems and recently we came out from cyber crime.

If we observe in our Indian population many are comfortable with non digital transactions as they are unaware of advantages of online transactions, so suddenly a complete change cannot be expected but educated youth should explore this technology atleast within thier houses so that we can expect modernised transactions in every house.

According to my point of view, this is not the safe mode of transaction in India. Because in India, the condition of cyber security is very poor. But now situations are changing. And we can say that within next 2-3 years we will become secure enough. Other one concern is the less educated population in mainly rural areas and senior citizens, they are not aware of digital transaction properly and also do not want to know actually. They think it as a headache. But this is also a point that if we want to compete with developed nations we have to change our old habits and to adopt digital payment. Because this is beneficial in suppressing black money and eliminating tension of carrying huge money for shopping, deals etc.

In my opinion, that digital payments are NOT secure enough for the Indian economy to go cashless. I say this because though there is a government implemented digital payment app, not much people actually use it. There are various reasons for this. But the point I want to speak about is that most people use private company owned digital wallets or digital money. This poses a lot of problems. First is obviously that it is prone to hacking. Though this happens at Government owned companies too there is another point with private companies. Private companies may sell the user data to people. This has been the allegation on many companies too. Hence, I am of the opinion that some amount of cash transaction should remain.

When the government announced about digital India and Cashless payments, many digital wallets and apps were developed and published to users by banks and other financial organisations to make payments. What do we do in those applications? we actually give our card details and do all payments and close them. Have we ever tried to check their authenticity ? its encryption codes? or safety?

Digital & the cashless transaction is the only intention of government but they are not aware or worried about the cyber crimes which is the major treat to the world after terrorism.

The Government should form a team to secure the countries and individual digital details just like securing the country with the defense forces.

Hello guys, in my opinion, digital payment is a big step of our government to achieve two in an arrow first education, second economy there is 74.06 literacy in India and rest people are not able with this type of digitalisation if they start doing digital payment there will be a big change in our education system people will be aware with this and our literacy rate will go above and above economy.

In my opinion, our economy will grow too much because the corruption in India will decrease too much due to digital payment people can't give and take bribe in this way our India will grow too early and too much our India will come under corruption free nation.

In this way, our govt will achieve two goals in one arrow.

Hello everyone,

I according to me if we want to make any economic development there will be pros and cons. I would like to say pros first if Indian economy go with cashless it is good step towards Indian economy growth. If Indian government take this step there is no necessary to do demonetization. In the beginning there may occur some problems it when time goes on it will be adopted. By doing these government can easily track black money and robbery, snatching can be reduced.

In other hand there are some cons also this may be problematic in rural areas according to me but it is not much problematic and some security issues like hacking may occur for that some other precautions should be taken care by government.