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

Yes, Cashless India is an initiative step for the growth of Indian economy. The transaction can be made without any disruption. There is no need to carry money. So, it will become easier but it has involves disadvantages also like our Indian cyber security is not fully developed. Many cases have arrived of unethical hacking, data breaching. So, it will be difficult to safe accounts details. Beyond this, the illiteracy rate is also an important factor which needs considerable attention. Most of the people are not aware of the online transaction. In villages, there are not such a facilities by which they can do online transaction. Therefore Government should rethink on all the factors before implementation.

In today's world, mobile has become a part of almost everybody's life. There may be the cases when people may forget to carry their wallet with them but they always carry mobile with them. So in those situations, the mobile wallet will be a help to them. It is not only making transaction fast and easy but also helping our country in becoming cashless to stop black money problem. But along with these pros, there are some cons also of this concept. Not all people trust digital transaction due to security reasons. And also there is less awareness about this concept. So on increasing the security of these digital payment apps and also spreading awareness about it will one day make India a cashless country.

100% digitalization is very good decision if it is taken by government, but It is not possible in our Indian society. Because still in India we can see many people doesn't even know how to use gadgets and how work on gadgets. People are still not properly developed they need more knowledge about how to use it and for gain knowledge about gadgets. Government should start any campaign for that and aware people.

Digitalization good for us because it will help to reduce corruption and government will get help from this. No body will fraud money by selling things without bill. But for 100% digitalization now a days we cannot afford because in villages people still doesn't know about all that thing at all.

Digital payments are need of today's world. But in India digital payments systems are not much secure as there are some 3rd party Digital Payment Systems which are totally fraud. Also in India Digital Payment System is not fast as I personally face time delay in failed transaction. If a transaction is failed the it took months to get refund. Moreover some people of India are not much aware to Digital Payments as some poor people cannot afford to buy smart phones to enter into Digital Payment Zone properly. So I think if we want to have Cashless economy then we have to make our Digital Payment System more fast, secure and accurate and start some programs which would make people aware about this system.

HI Friends. , I am Divya.

In my point of view, Digital payments are a secure and time-saving process. Nowadays we are spreading the virus through cash by hand (COVID19). So through the online transaction, we can decrease the virus. Banks have a time limit to do a transaction, but by a digital transaction have no time limit, we can transfer and receive money at any time and from any place. In some rural areas are facing problems of digital payment, But we should know bout one thing no one has knowledge by Born. So, life is a journey of learning. If we learn, we can move otherwise we can't go through the world. Educated people have to demonstrate about the digital transaction in rural areas. Thank you.

Everyone knows that the secondary motive of demonetisation to establish digital system and make India a digital India. The purpose got serve to the certain extent. Some of the report said that there is 22% increase in the digital transaction. There are different apps available for payment and Google is also launching an app called tez for the online payment. They are secure to the certain extent but there are hacker who can hack your account or digital system like ransom virus did. The main precaution is that the individual should avoided sharing there pin number and another confidential detail which can be used by hacker. So the digital payment are secure if an individual use it smartly and safely.

Hello everyone.

I would like to few things on this topic. In my view,

Digital payments are more useful to us. It is not only for transactions but also we can do developing ours economics. So we need some secure for the transactions when we provide the security to transactions we have successfully increasing our capability on cashless transaction. We should also concentration on uneducated people because of they don't know how to paying money in online. So we should awareness of digital pay amounts on who have no idea on cashless transactions. And one thing by using digital transactions we can provide more jobs as well as do transactions more efficient and within little time without go to the bank.

Hello,

Yes, India is ready to go cashless payments. It is very useful for the Indian economy. As our government taken the decision of demonitization is also very useful for our Indian economy.

The digital payment makes you easy and time-saving for any kind of transaction related to banking.

But there is problem the digital payments are easy for educated and urban area people for the rural area and uneducated people it is not so easy.

For this purpose, its our responsibility of youngsters and educated peoples to teach them or to arrange the workshops in rural area related to how to handle the digital payments. This will gives the contribution towards the developing India to the developed India.

From my prospective, digital payments are safe in India today. Everything has become so easier and safe these day whether you talk about paying fee, mobile bills, electricity bill or ordering something. The various apps and digital transaction sites are secured enough to prevent from any hacking attack. There are atleast 2-3 security level like your passwords, otp etc before any transaction is made. So, I would say the person doing digital payments should be well aware of fraud calls, messages etc and not to share any security information like password, OTP etc. Otherwise, the banks and other digital wallets are providing us with enough security to make easier and safe transactions from our home.

Digital payment is a revolutionary thing that has been introduced and implemented by our government. There are several advantages of digital payment methods, you don't need to carry any paper currency while travelling so no theft concern, no more mutilated or soiled note. But with advantages there is always some room for improvement and criticism, and as we all know digital payments run over with huge IDs and PSW that itself is enough for making it vulnerable in terms of security. But with careful handling and supervision we can easily avoid such situation. But the question here asked is is it secure enough, I will optimistically say yes it is, with time and experience we will achieve perfection.