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

Talking about cashless by digital payment is enough for making in India economy digital, I really don't think so. The country advised the people to use a toilet instead of going outside and we are trying to directly, it's not possible. The main problems are:

1:- As we know that in our country India about 60% are based on an agriculture sector and only 40% of the people of India is in the non-agriculture sectors.

2:- lot of people are unable to handle the cell phone completely. The Problem in understanding the function of it and how to use it.

3:- The biggest problem is the ATM which we use today. Microsoft which build the software used in the ATM machine, windows XP is used in the ATM which we use now but the software is out of security update because windows have stop the upgrade in 2007. They created a new software on Linux based software which is not easy to hack. Upgrading one ATM cost Rs 2.7 L.

4:- Government is imposing heavy tax on the ATM transaction. To make digital India plan suc cessful government should remove the transaction tax.

In my point of view, this step is taken by the government is good for all. Because all the transactions are done through the network, by the way, eliminate ransom money. Assets and other things are kept in a network. Look like a openminded, not any one hidden any bribes and other things. Another important on is income taxes are properly paid by all the people.

I believe that India will be a developed country in just 100 years. Why? Reservation. Now, how do I relate this with "cashless India"?

For transactions to go completely digital, you require parties on both sides to have sufficient knowledge. The sad truth is, however, the illiteracy rate is surprisingly the same as it was 5 years ago. Even though there are opportunities, reservations impose constraints which is not only disallowing growth but also driving away literate people who want to be something and are general.

Yes, I agree digital payments are secure enough for the Indian economy to go cashless if all the government and private portals are highly secure. As we know there are many intruders which illegally hacks the sites and may transfer the cash to there accounts, so there are many chances of unethical hacking, for which government and private sectors portals need to be highly secure. If portals will be highly secure then this will be very easy and less time consuming, sitting at home one can recieve their salary, can make online payments for electricity bill, landline bill, exam fees, water tax payment, house tax payment, online purchasing, mobile recharge and many more. But there is a disadvantage as well of this digitisation, illiterate people can't operate this technology, so we need to organise such campaigns to teach them and help them to learn this new technology to go cashless.

Digital payment is really a good step for improving the transactions and also a slap for several cases of black money. Every payment is going online means there is no possibility of giving any bribe for any work and also digital payment let the bank and customers to keep records of every transactions. So there will be no misplacing of any data or record. While there are several frauds related to online transactions, so this must be secured more.

It's secure but, it has a transactions charges for each and every time. For ex, if I apply for a bank exam then its take an additional transactions charge of Rs.03 for Rs.600. Then, in card mode of payment we don't have a much charge than a shopkeeper because for every month he could pay a tax for using swipe machine more than 350 and additional charges for swiping credit cards so we need a digital payments without tax because if we use digital payment we need a network that is additional expense for us.

Yes, the Cashless economy is a must for India to grow and become digital savvy. Easy accessibility of fast internet and education about digital tools like BHIM app, PayTM and others is very important prerequisites for all the Indian citizens. This will help the highest penetration of digital payments in our day to day life. Post demonetization, we've seen a big leap of digital adaptation and those who still didn't adapt it will be left behind and won't survive nationally as well as globally.

The other important factor is secured and encrypted digital transactions assurance by the government and consistent efforts to review and monitor the digital security of payee and payee's data.

Yes, From My point of view, India is improving day by day if we can see any fields which required improvement. From literacy to Economy India is becoming strong. Digital India is one of the Biggest step taken to put India to the next level. Being cashless and having balance in digital accounts is not only helped India to stop corruption but also it helped people to know how they can have the best use of their money. Where security is concerned govt is starting their own payment wallets which are also a helpful hand in the new scenario of going cashless.

According to my point of view, it is somewhat difficult to go cashless by just doing digital payment because a large no of people are not much aware of Internet and the people are not operating smartphones. More than 55 percent of Indian population are living in rural areas. They people can't do online transaction even some people do not have a proper bank account so it is difficult.

I think digital payment is good for our country but there are 74.04% literacy in India. So there are 25. 94% ignorant people live in India. So they will not be able to accept the digital payment. Although it's good for India because we don't respect our currency and we write anything on currency notes. So by accepting digital payment I think we can solve this problem.

And also corruption will have full stop if we accept the digital payment throughout the country.