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

In my point of view, it is a great step to make India as digitalization. First of all, I would like to thank you our honourable PM Narendra Modi sir for taking this decision because India is not a small country if the decision is wrong it will affect the total economy of the country.

The main problem in digitalization in India is illiterancy. Rural peopel don't know how to make cashless transactions and so many peopels don't have still bank accounts so before making cashless transaction need to increse the litercy percentage and tell the uses of this transactions to rural peoples then only digitalization is working.

The main advantages are decrese the courruption percentages, time saving is main advantages.

In my point of view, the cashless transaction is more secure and ease no doubt in it, but when it to comes to India we have to consider some facts about India i,e.

1. About 40% of the population is illiterate.

2. About 35% of the population still dream of electricity.

3. About 30% of the population live below poverty line, so for them to buy internet connection will be a great difficulty.

However, having said that we have to move towards cashless transaction at some point.

So in my view, we should move towards cashless transaction with considering the above facts such that both modes of transactions go hand in hand until India is fully equipped with facilities for the fully digital mode of transactions.

My self Rayaan.

In my view, digitalization is a great idea for the Development of Indian economy. But we know that there is a famous saying"Sabr ka fal meetha hota Hai". So, even for the increase in a digital transaction, it takes time. But it in future it will really improve our economy.

As we know that more than half the population of India is rural occupied one.

So, most of the rural people don't even have a smartphone, internet connection. So first our duty is to educate them about the cons of a digital transaction.

As we know that government spends a lot on currency making. So, the digital transaction might reduce the budget of currency making.

So let's hope after a success and strive hard for it.

Hi friends,

I would like to express my views in favour of the existence of digital payment.

We really need digital payment in Indian economy. We all know every country is developing in its own way. Developing is nothing but improvement in technology. We all need to develop the country for that we have to improve our technology. So digital payment is also one of the technological improvement, we must use it otherwise we can't improve the country. We must try new things in our life. Stick on to old will not going to improve our country. But we must improve security in case of online payment. The Government should take steps to give security to that. Then we can easily use digital payment system.

Thank you.

Hello everyone,

I agree that going digital is a good idea but India is still not prepared for it. Even if we think of going digital, what about all the grocery sellers out there who cannot even afford to set up digital payment systems.

The Internet is still not India's thing. Before going digital we need to make sure that it's affordable by all. Cyber security is another major issue. Going digital can even encourage hackers and bring in corruption instead of abolishing it. It may lead to more and more number of hackers being hired and corruption may creep in again.

If we really want to abolish corruption, the only means is to remove it from our society, from our minds, from our daily habits.

Thank you.

I think the step taken by the Indian government to go cashless is good. I also agree that there are certain issues with that as far as the security is concern and the unawareness towards the technology among the people specially from rular areas and the elder generation people to go cashless but it is not the big issue because the cash transactions or the usual transaction payments is not completely banned. So the people having choice to go both way either digital payments or cash payments or both so as a conclusion I agree with the point that it is a good step and digital payments are secure enough for the Indian economy to go cashless if the government ensure about the system's security from the hackers.

Hello, everyone.
According to my point of view digital payment is safe for those who are literate.. as we all know India literacy rate is at 74.04%.. they can easily handle or use it, but what about others 25.96% persons, a person who literate can easily get things but others can't..so if we want to increase growth rate of India so firstly we have to remove illiteracy from India because there are lots disadvantages:

1- Rural peoples do not have knowledge of doing digital transaction.
2- it is very risky as compared to transaction with cash.
3- it will increase cyber crime also.
4- And the most important thing is that we always have to pay transaction fees .
Being a student how much fees we would pay?

Hello,

In my opinion, to develop of the economy of India and develope of our lifestyle digital payment is the step of achieving this development. And this system worked but not properly. This system basically developed work system which is used in daily life and gives a different way of our thinking about everything. Basically, lack of knowledge about that system is the weakest point of digital payment. This seen in the rural area. So that a/c to me one system should be strictly developed to increase information about this system, basically for a rural area. Knowledge about this system should be applied in study materials, in this step protect various problems regarding the digital India like hacking etc.

Good Afternoon Friends,

In my opinion, India is not ready to become a cashless economy now. There are lot of people who are below the poverty line and who don't have facilities to fulfill their basic needs. This situation needs a change first. And about the safety of digital payment, I think most of the digital payments are secure. Now a days, most of the people are depending apps and sites such as "paytm", "fullmobilerecharge" etc for availing online products and services. Even I am making the payments of my mobile bill and all through digital payments. I haven't faced any security problems yet. So, according to me digital payments are secure but our nation is not ready to go for a cashless economy now.

In my point of view, digital payments are more secure for educated peoples, they make their transactions in less time without facing the crowd in front of banks and ATM. It is highly secure for them.

But in India, when traffic on online site become worst, they must be hang and many times payment also struck in the process.

First of all, these type of E-commerce company needs a strong server which is capable of handling the huge crowd of traffic.

Then they need to inform knowledge persons about it.

The Process can be simple and secure by using bar codes, finger print scanner, eye scanner etc.

If both government and peoples try their own efforts, it is possible that India becomes cashless in few years.