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

Hello, Everyone.

Yes, digital payments are secure enough for the Indian economy to go cashless. But only digital payments being secure doesn't mean Indian economy should go cashless. An economy needs to satisfy various factor before going cashless. First one and the utmost is percentage of people exposed to internet and the way of doing thing digitally like selling or purchasing etc. And as we know not much Indian population is exposed to it or how it works. There is no benefit for Indian economy to go cashless but it doesn't mean it should not go cashless either. It's just mean now is not the right time. First, we should tackle all the problems relating to it then only should go cashless.

Hello everyone,

According to me, the digital payments are secure enough for the Indian company to go cashless because India is one of the few countries which is not affected by Ransomware - a virus used for doing cyber crimes! Secondly, digital transaction reduces currency notes production hence less number of trees would be cut for the currency notes production. At last, though digital payments are more transparent people always find a way, in India network penetration is one of the poorest in the world so the government must provide the network services, educate and protect them using cyber crime in order to maximise the utility of digital transaction so that Indian economy go cashless.

As an emerging country like India needs such changes like digital payment process, however, all the sort of transaction has its own risk as digital payment as well, but when we handling physical transaction that would be taken an action for security just because we are familiar with that as it case when everything will be difficult before it becomes easy as for this am not saying that it is risk free but the action should be taken before the process implementing by the government but one thing we can recognize that when the transaction comes to digital the taxes are been paid properly so most of the corruption would be controlled by government and also that really worth for Indian economy.

Good morning everyone!

Digital payment is obviously a strong, advanced move from our government. It can help us from those tiredness of those long queues, think of submitting electricity bill or gas bill. Again all the transaction are there can be traced, so no issues of blacking. Definitely digitalization will be adopted in our country if not now, then must be 50years after. Because all of its benefits. But its main fault is our uneducated rural people, who don't have sufficient primary knowledge of there. Government must ensure that they know the process properly. And it is a time taking process. Again there are hackers also. Security must be ensured so that people can believe in this.

According to my point of view, it is always good to do cashless transaction as it took much less time. But India is a developing country and still there is not enough parameters through which we merely depend on cashless transaction. We also fear that what if our money lost or something like that. Yes IT Sector is growing up at a very fast rate and our country is developing many such brains who can build up a much-secured system so that more and more people start doing cashless transaction. But said every coin has two sides so there will be some dots who can make us think twice before going to cashless. Hope India will do as much as cashless transaction and make India a developed country.

Good morning friends.

As per our topic say about secure transaction while doing digital payments I want to convey my points that security comes in two ways first technological security and the education and know-how to use that particular digital platform to render a service. If both ways are good enough then it is better to go cashless. But if due lack of digital education and technical limitations there is always a chance of happening of fraud with anyone. So for the current scenario digital payments are not secure enough for the Indian economy to go cashless. There is more work needed to do on creating robust infrastructure for digital payments and to make society digitally literate.

According to me, digital payments are secure for the Indian economy to go cashless because it saves our time we don't have to stand in a long queue in banks, no wastage of papers. Sometimes what happen because of sweat, rain etc the paper money is tearing so digital payments is more beneficial. Going cashless reduces the fear of theft, increases more security. The Government should have to aware people more and more so that they know about the digital payments through campaign and workshops. If half of the population use digital payments then after some time almost population aware about digital payments and they use it and our India becomes from developing nation to developed country.

Yes, it is enough. If we go through in depth of digital payments how it works, know it's procedure terms and conditions.

About its benefits and it impacts on society.

Then it certainly works.

One must have the idea about what digital payment is.

How it is useful how to implement on it what are its pros and cons?

Then certainly we are on the way.

We just have to educate people first.

And as per my view if we are done with this then our country economy will be on the next level.

One step and all we can change is making the country fully digited, free from hacking not totally, make people independent, save their time and.

Have secure payments and transactions at any place anytime.

Hi Everyone,

In my opinion, digital payments in India by encouraging plastic money is indeed a very advanced approach and it definitely going to have positive effects in the near future. But, for the time being, in the short term, it will create many serious problems, especially for the uneducated and the underprivileged people residing in the rural areas.

So people in India must be provided with the proper knowledge and education that is needed for them to get acquainted with the new modern approach. If this does not happen, then only a certain section of the society will be privileged and most of the people who are in great need of "money" will start facing unbearable circumstances.

In my point of view, considering Indian geographic condition, India should not go with 100% cashless without educating the people about cashless payment. India is an agriculture based economy, where most of the people live in a rural area. In a rural area, they don't believe in online mode payment. There are two reasons either they don't know online mode payment or don't believe in the security of payment. India has a large population, as well as some area like UP, Bihar, Odisha and northeast state, have not a good network. I am not saying that cashless mode is wrong, it is very fast, less time consuming and provide 24-hour service as well as we should also keep in mind its side effect.