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

According to me, digital payment secure enough for the Indian economy to go cashless. It saves a lot of time. It is a very simple way for transferring money but only for some people. But the illiterate people don't know to use these technologies and they found it difficult. For doing digital payments you should have proper knowledge about using it as everything have pros and cons if you don't have proper knowledge about digital payment it may turn into fraud. So it good only if everyone knows how to use it and it is a good initiative taken by the government to make Indian economy to go cashless.

Hello friend.

As digital payment have lots of advantages like it reduces corruption, saves time etc but in present scenario Indian economy can't go cashless completely, it can go partially.

But, I would like to appreciate the initiative taken by our Indian government in the field of digital payment like digital payment app like BHIM and scheme like Pradhan Mantri Gramin Digital Saksharta Abhiyan. The aim of this Abhiyan is to make 6 crore rural households digital literate.

So, to make Indian economy complete cashless, along with government, the educated citizen also have to take responsibility.

Hello Friends,

Yes, The digital payment is secure. Because of all of payment gateway sites saving your information as the encrypted format so hackers can't be hack easily. Even all payment gateways not using the same server to save user data. But sometimes if the user doesn't have any idea of digital payment then first he needs to learn this. The most benefit of digital payment is you can save your time and some websites providing cashback options so we can save money also. And most important to know everyone about your OTP, some application automatic reading your OTP from inbox message and inserting those applications so avoid this functionality that can be fraud. Don't give any ability to read our third-party OTP like from VISA/MASTER CARD/AMERICAN EXPRESS.

The following points indicated the improvements of digital Payment:

* If we go in the past year 2015 we can see the ratio of online payment is like - Online Payment 20% - Offline Payments 80%.

* If we go in the year 2018 we can see the ratio of online payment is like - Online Payment 60% - Offline Payments 40%.

* If we will go in the year 2022 we can see the ratio of online payment is like - Online Payment 90% to 95%- Offline Payments 10% to 5%.

So for bankers need to think about villages because of the peoples who are living in small villages they don't know about cashless applications. So for bankers need to Install some small many banks in small villages.

And Yes, that will be done in coming few years.

According to my point of view, Yes, the digital payments are secured enough for the Indian economy to go cashless. I have these views because if we compare going with cash or cashless methods, there is more security with cashless methods. Everyone has their own passwords or pins which they have to keep confidential and secure to make payments. But there is still lack of planning in the implementation of this digital India concept. Because many people don't know how to make cashless payments and advertising on T. V or in posters won't teach them. Some people don't know the security policies or they don't trust the cashless online payments. Also, there could be the cases of forgery and robbery by hacking, and there are many such cases but they are very less in numbers as compared with cash involved cases. Digital payments make it very easy for many people to do payment while making a blunder for some other people. The government should plan more effectively to make India digital by providing proper guidance to people about the use of digital methods for payments.

I also think that digital payments have nothing to do with black money. Those who are involved with black money can do anything to secure their money until the government took some Strict action against them.

Yes,

It is secure, digital payments take an important part of country growth, And it saves time, paperwork, manpower. But in our country, it takes time to go cashless. Because not everyone that much educated.

According to me, digital payments are secure but this is possible for only those people who know how to do online payment or any other.

But in our India most of the people are illiterate they don't know about this. So, first, we will make to all people literate.

Digital Payments are pretty secure nowadays. But, that also depends on whether the person has followed all the guidelines provided by the banks to ensure that the security of his or her account is maintained.

By linking mobile numbers to email ids and also two-factor authentication (for eg. Fingerprint scanners) provided by the companies, are there so that even though there is a leak of information, without biometrics the information is invalid.

Partially, I agree with the idea of digital payments as it can be useful in urban area, but as India is a country with more rural parts it can't b implemented in rural areas due to various reason, one such main reason is because of illiteracy among most of the people living in rural areas, and the people living in rural areas find it difficult to make digital payments as they are not aware of the technology and the procedures of digital payments. Another major issue is network connection as Internet facility is not available in many rural places, and security issues as nowadays we come across hackers hacking the AC so although digital payments is secure enough for the Indian economy to go cashless because of all the above reasons the idea of digital payments is not completely agreeable.

Hello everyone,

When we discuss about digital payments in india, basically two things are comes in front of us.

All people thought about llitrate & illitrate but my pint of view only one facter is important that is awareness, if anyone is aware about his/her account no one can hack his/her account. When we talk about urban areas there are some problems if government aware to these people by social media, tv, seminar help centre & some develpoment like electricity, net speed. Etc then PM Modi dream 'Digital India ' will be sucessfull easily. There are some diffculties are face in beginning but after some time its very easily and venificial for Indian economic groth.

Digital payment is the new trend that is being followed by the country, it is the best way for transactions as it saves time, one doesn't have to wait in line, no need to go to banks such transaction can be done from home. But sometimes it is better not to forget conventional ways, what if the state of emergency takes place, the state of bankruptcy or cyber attack, one cannot completely rely on digital transaction. Also people in India are not much aware about the threats that digital payment involves, people with plastic money are being fooled everyday given that they easily provide their cvv and pin to anyone who claims to be a clerk of their bank. Digital is a secure way but it should not be made the only way for transactions.