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

No.

Not at this point in time where a major portion of or country don't know or barely know about the internet.

Yes, I agree with that there are many advantages of digital payments. But at this time India is not totally ready for digital payments. Firstly Indian govt should improve the cybersecurity system. Then should be made aware about digital transactions through advertisements, campaign n all. Only then India will be totally ready for the cashless economy.

Thank you!

Hello, I am Ankit.

Today we are here to talk about the use of digital payment to make our country a cashless economy. According to me yes we can make our country a cashless but there are some hurdles like.

1. Rural area people are not that educated.
2. No internet connectivity in rural areas.
3. Security (due to which educated person also prefer Cash). We have to remove these hurdles then we can make a cashless economy.

Digital payment is one of the best option to come up from demonetization. As cashless transaction provide us safety through OTP, encryption etc. , I think digital payments are secure. But as amount of transaction through digital payments is increasing, amount of cybercrime or cyber theft is also increasing. Thus goverment should spend more to secure digital payment. So that common people will also prefer cashless transaction.

At the same time awarenesses about digital transactions can be made through campaign or advertising in rural areas which will be more beneficial.

I think in the Indian economy Digital payments can pave the way of this nation towards a developed country, however the term CASHLESS can't be used because a major portion of Indian population are farmers, rural people who can't afford a smartphone, let alone doing E-transaction, moreover some people don't have even bank accounts yet. Because they live their life on daily wages. So, if the Cashless Goa example is adopted by any other state for example-Odisha and Jharkhand, there is no denying fact that the creamy layer of digital people like us will lessen the weight of our pocket while going to market but it will be those countryside fellows who will bear the burnt of the situation.

Hello everyone!

I am Suraj.

So, we are talking about digital payments and it's security. It's, of course, a secure method of payment. It's very quick and easy to transfer money through mobile.

Our main consideration is the awareness of digital payment and the availability of basic infrastructure needed for a digital economy.

The thrust required for it is given by the demonetisation. As the time will pass and the use of digital payment will increase exponentially, further processes like cybersecurity improvement, basic infrastructure and awareness will increase.

Obviously, digital payment is secure enough to led India towards the cashless economy and demonetisation was a very effective step to promote it. Before demonetisation, digital payments was not very much in use but post demonetisation use of digital payments in India has been gradually increased not only in urban areas also in rural areas excluding exceptions.

But our government Needs to invest more on cybersecurity department because as much as the level money transaction increase hackers too will increase their level. So it is necessary for the govt to take India's cybersecurity to the next level.

Moreover to develop awareness programs regarding cashless mobile payments systems in areas in where the cashless system is not in trend.

According to me, we must go cashless. Because it is secure and very easy to use. As we use many cashless transaction applications like Paytm, BHIM it is very easy to send money to others we do not have to carry cash with us but in India the literacy is less than other countries and people in India more prefer for cash instead of cashless transactions hence it will take some time to go cashless. In India yes it will take time to go completely cashless but we should tell people how to use it then only they will understand it and use it.

Yes! its a very secure method in my opinion. If we want to achieve cashless economy, first the government should make awareness in people especially in rural areas. Now -a- days we are getting some wrong calls asking people to tell their login credentials. If we are totally aware of our own safety. Then, it is surely a very secured and makes easy for us do transactions. Still we are just in initial stage. Its takes some time to completely transform into cashless economy. For the government to implement totally we will have teething troubles but it is very sure that it is a safest measure for our future.

Hello everyone,

As we all know that it's not just about security, its also about educating people for cashless transactions. With a lot of advantage of cashless India, there are some measures which should be taken to make India completely cashless.

1. The government should give some benefits to rural area people for cashless transactions. Also, they should go for more campaign and advertisement and be making them aware of thefts, hacking etc.

2. Also, the government should limit cash transactions to a certain value to minimize black money.

3. They should make it more secure so that people believe it completely.

4. Facilities such as internet connection, electricity etc. Should be increased particularly in rural areas.

And also Rome was not built in a day. So, obviously, it will take time for India to go completely cashless.

Hii.

I am Abinash.

In my opinion, yes it is secure. Digital payments is the future of financial transactions, especially in a vastly populated country like India. It has many features such as encryption, biometrics, OTP, etc which has secured many financial records. The only demerit it has is that it is only limited to urban areas. Rural people have no idea what digitisation is, let alone digital payments. So digital payments can only secure the Indian economy if people from all sectors understand its benefits. Hence digital education is highly important, especially in rural areas.