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

Hello Friends.

According to me, digital payments are good enough for the Indian economy to go cashless. It is very easier to use, it saves time. There is no need to stand in line for hours. Just one click and its done. You will get some great offers and cash back. So this gives you a great deal.

But when security is concerned I don't think this is secure enough until and unless peoples are aware and educated about the digitalization. I have seen many peoples who have been fooled by some fake bank callers due to illiteracy especially the peoples of rural areas.

And govt should pay attention to the increase the level of cybersecurity because with digitalization hackers are also rising.

As India moves towards an cashless economy digital payments can't be avoided. Security measures should be taken appropriately to secure personal data of citizens else the whole economy may suffer of severe crisis. Attacks like Ransomeware are now common in today's online world. Indian Govt should take proper care to literate common man about using digital payment securely for example : two time verification, safeguarding passwords, using complex passwords, knowledge regarding social engineering and also using anti-virus. With proper care taken from govt to make people aware of the vulnerabilities of using digital payment the era of secure cashless economy can be achieved to some extent.

Hello, friends.

When we discuss digital payments in India, basically two things come in front of us.

So in my point of view, there is urban area people or rural area people. First of all, discuss our urban area people. In that case they people are totally aware of it by the seminar, conference or news etc. It's just like a mouth market. Then people should aware about it digital payments. But there is most of the difficulty about our rural area people, there are illiteracy for there people. Because they not use mobiles phone properly and also no there banking facility or their internet facility. So in my point of view, only rural area be half of digital payment is not secure.

Thanks.

Hello, everyone.

As we all know we are in amidst of corruption, terrorism and so many of such insecurities.

If we look deep. We will get to know all these insecurities generates and are caused by the power of black and fraud money. If we ban all such fraud money we can organise our country in a better way, the way which is free of corruption, terrorism, and day to day robbery cases.

Yes, I know that our 60-70%. The Population is in the rural area they don't know how to use these gadgets but I also know there is an urge in everyone to see an easy going, developed India and for that urge we are exceptionally able to do the impossible too. Hence we can go cashless if we really want to.

According to me, as we are all aware of the present condition of the country and about the literacy rate which is too low as compared to the developing or developed country. Almost about 70 per people living in the country are not know with the procedure of online payments so I think the government should have focused to impart knowledge to the citizens instead of implementing this action. One should be aware of the procedure and concept and also benefits of the digital India. I pretty sure most of the people won't be knowing about this. Secondly, most of us think that it's not an easy procedure and insecure so they should be made clear with it that it can help reduce time and labour.

I would say that everything has some pros and cons. In a country like India, where the literacy rates are not at par with that needed for us to go cashless completely. Yeah, they are indeed secure enough but you can't go out everywhere expecting that you can pay by card. Moreover, there are situations where some transaction causes money to debit from one account but not debiting to the beneficiary's account. Seeing such cases people tend to become a bit tentative about these online transactions. So at first government should take proper steps to increase awareness amongst people, clear their fears regarding these issues and most importantly avail free internet access to common people.

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.

Not now, but slowly we can after few years. The Reason is, a large section of people of this our country lacks digital literacy even though the capacity to buy smartphone and internet connections. The 2nd thing still a large section is not having an infrastructure for internet connections even few areas lacks electricity. 3rd we are facing the challenge of cyber attacks. Finally to adopt something new is always difficult. The need of today is to go parallel with technology.

To speed up the process we can make people aware and digitally literate by planning to organize camps to educate. Infrastructure for connection needs to be created. Healthy cybersecurity must be created.

Thanks.

I stand against the motion.

In my opinion, Digital Payments are albeit much feasible and flexible measure to replace cash, but since we are talking about the Indian economy, one of the major factor is 'EDUCATION'.

Even if we improve the security measures, we could not ensure security of an individual's account due to the lack of education, and knowledge regarding the technology.

India is a country where a mass of population is still suffering from the lack of proper education and knowledge; so going cashless is a big step rather it is firstly important to make the people aware regarding what is this and how does this system work.

It is still a long journey to make India cashless.

Hello, friends!

In my opinion, the cashless economy will be a great achievement. But thing is that everyone should know how to secure their personal information individually. Considering the growth of this generation we can see some people from previous gen whoever had zero ideas about the internet and smart gadgets, they learned to use such gadgets in a smart way than this gen people. So, in future when India entering into cashless economy everyone will be knowing how to secure their own individual information. Lack of education will not be the problem in future. If govt of India provide certain guidance then it will be a great achievement for India and easy for the public as well.