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

In my opinion, Technology is improved and a lot more changes happen. And digital payment method is very useful in nowadays to transfer the money anywhere in the world without standing on line. With the help of digital payments we can save our money because lot more cashback offers are given by online sites like redbus, amazon etc. One or two years back for electricity bills, phone bills and recharges we go and pay the bills. But with the help of digitalization, we can pay the bill in the home through phones. At the time of digital payments, we should follow some instructions given by the government. Our debit/credit card details do not tell to the other persons. Government give the awareness about how to use to the urban people. Because most of the people in urban places they don't know how to use this.

According to me, digitalization is important. For everyone either an individual besides in rural or urban and the initiative which is taken is completely in the favour of citizens because we are already years. Backward from other growing countries in many fields and completely disagree those who think that this is not the right time to be digitalised because steps is to be taken its good taken now instead of getting backwards for some more years from. Otherwise, countries aa like peoples are not used to all this but within some coming years, they would completely adopt it. And 68 % population of the total population besides in villages but many of them started doing online payments there are an exception but not at that level that we should not adopt it. Its just govt should look that the payments which are made should be secure n safe.

In today's modern day carrying cash for every single thing becomes tedious, using digital money makes the work easier and faster.

It removes the long waiting in question. It makes payment for electric bills, shopping, movie tickets etc much easier.

However, there are some risks in using digital money. But we can not ignore its benefits. In fact, risks are part of life. Digital transactions can be made safer by spreading its awareness among people, not only in urban areas but also in rural areas. The government is trying to improve the Cyber security day by day. Hence it would be possible to make DIGITAL INDIA.

In my opinion, according to our current condition, India is not ready to go cashless. Because in digital world it need strong security. Security is main point to make an economy digital. Without tight security anyone can hack accounts. We need to develop technology for this. Another point is illiteracy. In our country many people are not aware about the digital payment. In rural areas there is lack of education so they people can`t aware about digital payment. Like everything has two aspects negative and positive. It has too. Digital payment will made easy cash transaction. Nobody needs to stand in queue for paying bill. In the fastgrowing world people are busy so this is the best way of payment. Cashless payment is our country`s need because India is a developing country. So government should implement many programmes and policy to aware the people about cashless payment mainly in rural area. And cybersecurity should also be developed. So that people have no fear to lost their money and India made a cashless country. .

In a country like INDIA where rural population comprises of 68.3% of the total population and internet penetration is around 31% there need to be imparted a lot of awareness and knowledge about the internet and then about the digital payments. It cannot happen overnight but initiatives taken by Government of India to make people know about the advantages of digital payments is on the rise. EX- people can now transfer money to any bank account via their Aadhar cards.

Yet there are hurdles at present for the Indian economy to go cashless.

There is lack of proper infrastructure which is needed for the smoother transaction.

People need to know about security available for safeguarding their money online.

How citizens could prevent against thefts and online frauds.

Today is a modern era we all are converting to new and advanced technology.

All things are good for learning like digital payment, digital transaction and so on.

So we can say that yes digital payment is good for all of us because it's making any work easy and less time.

But before so we should know some basic knowledge about how to do digital transaction it's mandatory and compulsory so we can take more benefits.

Otherwise, we can be in trouble.

Yes, Digital payment is secure for Indian economy because it makes the transaction fast and easy also it is secured as there is no third party interception with it. In India, now people are more literate and educated about banking fraud and if more digital awareness is given to the people it becomes more secure.

In my opinion, According to security concerns for digital transactions they are secure if the person has proper knowledge of using it and it also seems an effective way so that people from across anywhere can use the facility and this way they can transfer their money if anyone wants urgently.

For the problem of hacking issues, proper guidance and awareness should be provided mainly to rural areas and the cybersecurity system of India also been working for the prevention of hacking which will make India in coming days to go cashless.

In my point of view, digital payment not that much secure in India due to the poor infrastructure of going online. I also point out the scheme happened with the SBI customers, their debit card details has hacked. So if they are not saving form the hackers how we are? I also want to say that we are welcoming the steps occurring by the government for making India digital, this can not happen in one day probably we need good cybersecurity because only poor can understand the value of 1 rupee if he will lose.

According to me, digital payment is the easy and fast method to transfer money.

It has overcome the problem of standing in a queue for hours to pay the bill.

Secondly, it has also overcome the issue of time, as in traditional method we need to wait for hours.

If we take an example of online shopping, ticket booking, online recharge, etc. So sometimes, there are exciting offers available, sometimes cash back, etc. So here we get the opportunity to save some money and we are able to pay in budget for what we want.

If we discuss about the security of digital payment, so I think there are two ways so that we can say digital payment is unsafe.

1. We should not expose our personal and account detail to any unknown person.

2. Hacking. It is done in some cases, but still cyber community is working on it to make the better security for online activities.

And the most important thing is that, today thieves are also confused that how to do robbery as there is most people having not physical money with them. And most of the times thieves are illiterate. So we can say digital payment is the best and preferable method.