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

According to me, the big step that our govt has taken to go cashless and implement digital transactions has both positive and negative sides.

Let me first elaborate the positive side, being a developing country digitalisation adds to development. People need not carry money in their wallets just a mobile will do the job. Its saves times and reduces the use of black currency. Govt will be benefited in terms of obtaining taxes from the services acquired.

Negative side mainly points the cyber hackers, lack of education among few section's of our country also is an issue.

Hello everyone, yes it is secured but the thing about which we all need to aware is the cyber crime. The government is taking various step to make us aware about these cyber attacks. If once most of the Indian people made a habit of using digital payment this will help in the developement of our nation, because every transaction will be monitored and there is no chance of tax evasion. There will be more transparency in every business. Along with it we need focus on uneducated and rural people who are less involved digital mode of payment. The government Need to take some intiative to educate rural people regarding secured digital payment so that they may not be exploited while doing any digital transaction. Even we should also understand a responsibility to educate people regarding digital payment. We should tell them that always try to use digital payment as it saves our time and never share your password, otp and other details with anyone.

By taking these simple steps, we can put a step forward in making India cashless and above all, the Indian technology is strong enough to handle the digital payments securely.

I think our cyber security is not so prominent to go cashless but we need to take the step forward in the future for the same so why not today. If we go cashless now people will gradually learn to be independent and will not be dependent on the third person to make their payments etc. And the step has been taken so now the security will also be made good gradually. So it is a good move and I appreciate Indian government for the same.

Hello friends,

Digitization is the truth of today, which could not be escaped and it's relevance and importance can be gauged from the initiatives like "Digital India" that the present government is pursuing diligently. But the struggles in leading India towards Digitization are imminent.

Among them, Security of our Digital Payments comes at the top spot. Howsoever, useful a system is, but without security, all boils down to nothing. And the recent ransomware attacks shows that the system has many loopholes. Moreover, the tendency of Indians to hide the true picture, which came to light, when many companies did not report of the attack, is disquieting.

Thus, we need to first develop a robust security system, which seems to be lacking in present scenario for the Indian economy to go completely cashless.

Yes.

India is well growing country among more countries in the world. India is basically depending on the economy, that can bring cashless transactions. The cashless payments bring the country towards the development of Indian economy but some illegal activities by the hackers gone wrong to the normal peoples. The main victims are only civilians that are using cashless transactions. Every enemy country had to know how to discrete the country economy so that's why they developing hackers. So the cashless transactions bring county growth but some remedies to be taken by government.

Digital payments according to me are more secure as compare to that of paying the payments offline but as we all know that the people of India are literate rather than educated so if the government is planning to shift these offline payments to digital payments fully so they have to create some awareness programmes so that the people those are not aware or have some fear to lose their money, will able to shift themselves from offline to digital one. Offline payments are much time consuming and in place of it the digital payment is the option that is time-saving and secure enough to pay. As we all know most of the developed countries like USA, RUSSIA are following the digital payments and are the examples of the secure payments so if we want to be the developer from the developing one than this change can also be the reason for us.

Well, I agree to all of your points guys. But I don't think that India is ready to adopt this digital world because the maximum part of our country comprises village. And the people there are not aware of such things properly. However, with the demonstration, many of the people here and there csme to know about paytm, mobikwik etc. But they requirement before the transaction is beyond reach of many people still now. I think that some cash and some cashless is a good way to promote the fact of being digital. And further in future, I am sure that almost all of the people will be ready to welcome the digital India, maybe in few years. The technically advanced students now a days will contribute in maintaining the safety of the transactions.

According to me, digital payments are very much secure for the Indian economy to go cashless. Though people in rural areas must face problem in understanding this process government will implement easy methods so that these people can know the importance of digital payments. I think it is the easiest method. We can pay money in a very little time and also we can pay a huge amount of money without any risk. There is no risk of money being stolen. So I think it is the most secure method.

Yes, it's important but before go cashless, the Indian government does should homework.

I mean digitalization is good for our country because of its benefits in many ways and many things like Time-saving, not stand in long queue and so on.

But Indian cyber securities not so good, and a large number of rural areas people don't know even how to use a smartphone. So, how can India go cashless easily first Indian govt should make training teams train those peoples who do not know how does digital money or cashless transaction.

Digital payment is one of the best innovative idea by the Indian government. It helps a lot for the people to save time. And a limit is applicable for every method in digital payments. So people will use a limited money a day. This is beneficial to the middle-class families. It reduces the pickpocketing. If people in India are educated about digital payments. It is one of the successful methods. The only drawback is hacking.