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

Yes, I support Digital payment. Because we save our Time, Also we can save our Nation. We gave our part to build our Nation Digitally.

Yes, I think digital payment be secure enough for the Indian economy to go cashless as we know that many of us use Paytm as a payment option that's mean we trust on them trust on digital payment and lots of discount by payment by digitally.

But in rural areas, many of people don't have an account for digital payments then the government takes some action against them and secure the digital payment by the cyber crimes.

Good Morning friends:

Yeah, I support the digital payments are secure enough for the Indian economy. But currently, it's just a little bit.

We know that approx 70% of the people are living in the village, and most of them have no proper awareness of using the Internet and digital payments. Besides these, another thing such as false identity, hacking, no proper internet connection etc makes a fear on them. So I think first we should try to make aware to people with these.

And I am sure that, when these changes will complete, it will definitely be secure for the Indian economy.

Yes, I would say. India being the second fastest growing economy in the world needs more alternative and digital payments have the solution to this. With vast population and the aftermat of demonetization it has pulled the economy down. Digital payment sites like paytm are secured enough and it will be a boost in the Indian economy, saving time and resources. Hence, ultimately going cashless will be the smartest choice by all.

Hi,

Our topic of discussion is about the security of the digital payment for Indian economy. In my point of view I support for the digital payments. Because it is the faster mode of transaction and any person can send or receive money in anywhere. Only thing that need is the knowledge of Internet and online transaction. Demonetisation in India increases the digital payments.

So many peoples believes that digital payment is unsecur and they loss money if there is some sort of transaction failure. It is mainly due to lack of knowledge in Internet.

UPI Transaction will not cost any transaction fee. And it is easy to transact the money to anywhere within seconds. There by it increases the economy of India.

The major problem in India is that, majority of Indian peoples do not know how to use the smartphone and computers. Considering this facts this will be a great challenge to go the payments fully digital.

Thank you.

Seeing the current circumstances and our economic situation, my answer would be NO. India is a developing country with approx 70% rural population. Although under current government, policies are well led for urbanisation and digitalisation. But still we need some time to execute these policies. As being a rural populated country, there comes two important aspects which are poverty and illiteracy. Without eradicating its effect digitalisation is impossible. We need to educate people and win their confidence in order to achieve this. Banking sector in India has still a long way to go to eliminate paper currency. There are so many small traders who have to maintain minimum cash balance to carry on their day to day expenses. We still cannot expect payments to labour class thorough digital medium. 100% literacy along with better job opportunities is the need of the hour. Digital payment is secure enough but it's not the right time to implement the same completely.

Going with the topic, i.e are digital payments secure enough for the Indian economy to go cashless or not, I would like to say that yes they are secure enough because paytm and other apps for the online transaction are highly secured as this is the reason why we are using them most of the times. With the online transaction it is necessary that we must not neglect the importance of paper money because internet connection is not good all the times (a real fact) so in those cases we are needed to have some cash money.

India is one of the largest country in the world hence we can't expect everyone to be cashless or being digital.

It can happen in future if Indian economy goes good enough and when each and everyone thinks that internet knowledge is one of the major part to survive in this competitive world.

I would end by saying that going digital is one of the major improvement in increasing the Indian economy but being cashless can be drawback.

Thanks.

Hai, digital payments, it should require going forward our country, because every payment it generated by data, so it is very difficult to hack, so please make them teach awareness of banking transactions, once literacy person knows this process country become very fast web transactions.

Hai friends, in my opinion, digital payments are not helpful because there will be negative thought in the minds of people that it will not be practical and unsecured, they think that transactions using paper money is more secure than digital money because if the transaction fails the money will be refunded only after a couple of days. So in my opinion, digital payments are not much secure than traditional money transactions.

Thank you.

In my thought, in the case of technolgy, this is not secure. Because besically there are many hackers in our day to day life so we should approve some case in cash payment.