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

As per my view, it is good to go cassless which would develop learning about new methods regarding digital payments. People can easily pay their their bills without standing for a long time in queue. It saves time and energy of individual.

In my point of view digital payments are secure enough for the Indian economy to go cashless.

After demonetization digital payments and transaction has increased, it shows that economy of India moving forward to go cashless. Now these days all digital payments are secrud by many security system that no one can miss use the others credentials while paying digitally. Indian government is also promoting the digital payment.

But Indian economy can't become cashless it will take many years to go cashless because in India rural areas people are not so much knowledge about digital payment, Indian government should take steps towards this type of problem.

Hi everyone.

According to my point of view, digital payment is a good way to prevent corruption and also it help in growing Indian economy. Most of the people think that the digital payment is made by the third party so it's safe or not?

But in my point of view, it safe and secure and we also have done easily payment.

I think it is a great initiative taken by our government. But we know that in India most of the people are from rural area and they didn't know about the digital payment even hi don't know about how the transaction occurs from atm. So govt has a right implementation for such area people and educate them about the digital method.

Digital payments has a lot of advantages such as:

It will make trading activities easier.

It will make the world safer.

Such the bad behavior like corruption will be less chances to occur.

Just worry that it relies too much on the internet connection and what will be when the connection was down.

Yes, It is good.

Practically speaking, digital transactions are already in line for the middle-class people, before when it has been announced. We should have money in bank account to do the digital transactions in any way either it can be Paytm, Tez, Mobiquick, PhonePe, etc. Only the middle-class and the high-class people are only to take this without any difficulties. Talking about the low-level people, he/she earns money in cash, keeps the cash in pocket and spend it tomorrow without any worries. For digital transactions, we should have knowledge of the things how it works. People should have a salaried account and every month some cash to be credited to the person's account. Also, he/she need internet to connect (again expensive).

Frankly talking, whatever the technology adaptation we initiate some group of people cannot use/adapt it.

Conclusion: There is no way that all the people will adapt to everything, we have to impose the digital payment on India to improve the economy indirectly or indirectly.

So I want to say that everything has its own benefits and problems here our topic is digital payment is secure for Indian economy to go cashless. So I want to say that it's a brave decision to go cashless it's help in growing our country as well as it will stop corruption by doing online transaction govt can track all the transactions made by each individual and also it's will help in saving time, money, manpower etc. We don't have to carry huge amount with us anywhere. Whenever we want to make payment for something we can make it online by using a different app like phone PE, paytm, etc. It has a lot of advantage which we all know but mainly I want to tell about rural areas ppl what about them many all of them don't have a smartphone. About 60% of population of India live in rural areas now. They have bank account but there not enough money so they can do online transaction. Still, they are happy with their cash transaction and all govt have to look over it.

I think first of all govt should think about our rural people most of them are uneducated they don't know how to operate smartphone so how could they do Thai type of payment and we all know that during online payment if do mistake then our money will be gone and will never return even if you go to bank they will simply tell ask call center ppl they will tell.

So what I am saying is I am not against it but before going cashless we have to take are rural ppl that much capable so that they can except it otherwise it's not going to work.

So if our govt is only thinking about urban ppl then it's good many of us are using it already.

Hi everyone I am Neelima.

In my point view, digital payment is the best source of payment because its save time through the online we don't have a need to stand in lines for a long time. We can go anywhere without cash with of digital payments if we go with money we should be in full of fear and stress because of having money. Though the government is trying its best recently it introduced an app called Bhim where all transaction are made digital. Offcourse, digital payment is helpful to increase the growth of India and increase the reputation of Indian market among the international market.

Yes, Digital payments are secure enough for the Indian economy to go cashless.

Advantages of digital payments are.

1) paperless.
2) queueless.
3) online payment for essential need like EP, Property and Water Tax, Insurance renewal paymnts, etc. , and online shopping helps us to save time and money.
4) reduces corruption if this digital payments are made mandatory in all the state and central government sectors.
5) reliable security provided by the service providers to make digital payments. (through OTP/Grid numbers/Email confirmation/Hardware token).
6) People are encouraged to use digital paymets by offering discounts.
7) blackmoney can be eradicated if digital payments are made 100% available.

Disadvantage:

1) only Educated people can avail this digital payment option.
2) illiterate people cannot use this digital payment.
3) some of the shops/gov sectors are still not upgraded to use digital payments.
4) if credit/debit card lost that troubles us.
5) still Bus and Train transportation payments not digitised 100%.
6) court fees payments are not digitised 100%.

Overall digital payment options is very useful for the educated people who know how to use it, whereas illiterate people may not be able to use this digital payment. Training has to be provided to the uneducated people in order to make them to use this option. At the same time, each and every citizen should take it as their own responsibility to help uneducated people to educated how to use or help them to use this option.

I think Digital currency is more secure than cash because of chances of corruption is more than if we use money in the form of notes or coins if we use cashless then all the transactions which is legal or illegal is monitored because in digital payment system each and every transactions is monitored and also your money is secured and the chance of corruption as well as stealing is less as compare to cash money system.

Yes, by considering some points digital payments are safe or easy to make digital payments.

As without carrying money anywhere, we can pay any amount as our requirements but when we make payments with cash there are limitations on payment which is not applicable on digital payments also digital payments are helping to make cashless transaction where we can be free from the problem of change of money.

But by considering some points we have to be more aware about our ATM card or pin code of atm so that no issues be created about security but overall digital payments are secured.