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

According to my view, digital payment is important and it develops India, but most of them didn't have awareness of digital payment. First government should educate people before implement this digital payment. Because many people lost their money because of cybers, so they avoid wallets, and mobile banking like this app. When you educate people, then India will change like cashless and with digital payment.

Definitely, by taking some proper measure from a security point of view, we can make digital payment cashless. But going for fully cashless is quite difficult because of illiterate people. There are people who even don't know about reading -writing for them security aspect is more difficult. One we can do make a digital system based on visual /picture to make them understand.

I think digital payment is very good for promoting digital India it also increases employment as we known many of the engineers are unemployed today. The government should also need many more step to support digital payment.

In my opinion, the digital payments is good for our nation because India is a developing country. It is a fast and easy transactions to pay our payment. And this help for our GDP growth. It will be beneficial for our future. The digital payments are like net banking, paytm, NEFT, UPI, etc. But in rural areas it is difficult to understand about digital transactions because they are not aware and illiteracy. So it is a innovative idea to go for cashless economy. Because nowdays no person can carry cash in every time, every where. So persons & government Go to cashless economy and increase our online transaction & payments. But it is not digital payment secure enough for Indian economy to go cashless because our technology is not good and safe, hacker is hacking our system. With this help people are aware this payments, digital marketing, make in India.

Atleast, it is a good for us and banks also provide digitally payments, and system is upgraded as new technology come.

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.

Hi,

According to me, yes it is good to go cashless, but gov should promote such things in a high level that everyone must be aware of the benefits, most of the rural area people are still unaware of such things due to less knowledge and awareness. We can say it is secure but only for educated people not for everyone, gov should start campaign in rural area and promote learning and knowledge related to this.

To make it secure the best way is to keep this cashless platform in limit and less privatize.

Yeah, I am agree India can go cashless as we know that earlier days we have to stand in bank and for 2-3hr waiting to transfer money, transit money but the time for doing this is too much and on the other hand digital India will have online transaction in which we can operate all types of payment with our mobile having internet connection.

As we all think that it not secure but in my point of view we have ltp and only right will going to operate account and we have apps like Bhim, paytm, google pay etc thus I wanted to say we have to take one step forward and support for the casheless transaction.

Every form of payment systems has some form of risk associated with it.

Take for Eg. Payment by cash, it has a risk of theft, robbery, damage of currency notes, use of fraud currency but regardless of all of that we use it as a medium of exchange due to the huge benefit of money being easy to carry, widely acceptable and availability in different denominations.

Likewise, cashless payments have a huge risk like cloning of cards by fraud machines, hacking of bank accounts, stolen card details and OTP. However, all these risks though very grave can be avoided by awareness of cyber crimes and by being careful.

Therefore, in conclusion, I would say that though cashless transaction has some risks associated with it due to the huge benefits, we must work towards a cashless society as well as continuously work towards making cashless payments more secured to the growing skills of fraudsters and hackers.

Yes, I think digital India is enough for the Indian economy to go cashless but point is to implement in a more effective manner in which less educated people can also use their transaction by cashless mode eg Paytm etc govt should acknowledge people in about important of cashless. In a rural area, people should use the cashless mode of payment as imperative. Then only we can say digital payment is enough to Indian economy cashless.

Due to rural backwardness or some unawareness, we can't prevent good things to come in our life. That can be removed by taking some initiatives by the Indian government, this is 21st century and it is necessary for everyone to be a part of this cashless economy because it doesn't only provide us facilities of easy transactions, records of every transaction, but also put our country in the queue of economically developed countries.