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

Yes, I agree with that digitalization is a good step towards an economy of a country because it saves the time of people. As we hear many cases of robbery which can be prevented by using digital payment mode. In starting maybe it is difficult for some people who don't know to operate digital payments but young generation knows it well and in coming future, all people will know about it. Also, people don't have ro rush to bank or atm to withdraw money by using digital payments. By using digital payments paperwork can be reduced which is good shine for Indian economy also the fuel wastage in going to atm or banks can be saved which is a good sign for the economy of a country.

Basically, at current stage Indian economy is at its rising stage, which wasn't the case a few years ago. To enhance this growth, digital payments are the best solution. And like many major countries like US, China etc India too have the potential for securing this payment and finding a solution to any flaw in the system.

Keeping the population as one of the aspects, digital payment won't be accessible to everyone at the beginning stage but as time passes everyone should and would go cashless and the system would also keep optimizing itself.

Concluding that digital payments are secure and can completely achieve cashlessness and help people to live an easier and cosy life.

From point of view, going cashless is surely a step towards transperant India. But, like rest of issues it has its own pros and cons.

Pros.
I don't want to bore you with the points that others repeat.

Cons.
1) Village peoples have restriction in network services.
2) rural population has higher percentage of illiteracy, so it's tough for them.

Solution:.
There should be a minimum transaction limit like say 2000 or 1000 above that cashless digital transaction should be carried out.

Rest should be continue the way they were.

So it can't affect illiterate rural people unless literacy rate increased above 90percent.

Then we can go completely cashles to where ever we like.

Hello, friends.

As per my view, going cashless was a very important step taken by honorable PM Narendra Modi to uproot the corruption which was prevailing in Indian economy from so long. It is beneficial for the literate people as they don't have to carry hard cash with them. But with regards to the illiterate it is a tedious job for them because first of all they don't have a smart phone and secondly, they don't have the knowledge about how to use the internet. So it is obvious for them to feel insecure by paying online. In regards to the security issue, I feel it is not totally secured. The uprising number of hackers can misuse anyone s account by getting access to it.

Well, it's good that our country is growing in every way. But digital payments are not enough secure for the Indian economy to go cashless. Firstly, there can be a problem of hacking. But this problem comes later as there is a bigger problem. For Indian economy to go cashless everyone in India should know how to make digital payments. For metropolitan cities, it's ok but for the rural villages. The government should carry out a training program for them to make everyone know it. The government should make sure that by using this method everyone should be in the comfortable zone. No one should have a problem using it. Everyone should use its benefits after implementing it.

I think digital payments and transactions are good up to some extent but using this way of transactions furthermore may increase to so many problems like hacking. In order to overcome this problem, anti-hacking projects and safety measurements should be taken. According to a recent survey, there are so many professional hacking opportunities in the world to overcome these anti-hacking things, but people are not having any interest in unofficial hacking rather than becoming official hackers. Bad can easily inculcate to any individual rather than good ones. So to increase online transactions furthermore, we need to take some extra preventive steps to make it more effective.

Yes, the cashless economy is considered as the most secured economy. But countries like India has so many challenges to make a mode of payment completely digital. One of the big challenges is a cyber security threat, as Indian cyber security system is not very secure therefore there is a threat like hacking. Financial literacy needs to promote via different modes. To become cashless, it's necessary to promote digital payment. The Government should itself become a role model to promote it. The Government needs to give incentives on digital payment mode, therefore people get attracted to this. If India faces these challenges successfully, it can definitely become cashless.

Well, In my point of view, in was a greatest decision by the government by this idea we can improve our country economically all the peoples of the country will pay the tax correctly without fail and cheating our government but this method the middle-class and the lower middle-class people will develop, by starting period of this method is some what seems to be tough but later but continuing this process it result well be well for example Sweden, Denmark, UK n more countries following this method.

Then all this safety is the main advantage of this Method according to the servant of 2016 40% of crime is because of case transfer so by this the crime rate can be minimized.

Good day, According to me, Digital payments are risk enough. Money is a basic need for everyone. I accept paying and processing money through digital is easy but it involves too much risk. Many theft had occured in recent times through internet. We cannot able to stop it. Our credit card details are gathered by hacker and they misuse them and steal the money. We cannot able to trap the theif or we cannot able to obtain any detail of him. So Digital payments are easy, makes our life simple. But involves too much risk. Everyone run towards the money, many people work day by day for earn money. So makes our money secure and safely, digital payments can be avoided. Thankyou.

Hi Everyone,

My opinion is digital transaction is a sign of developing Indian Technology, which is appreciable. Now, coming to how secure enough the digital transactions are, With the developing technologies cyber attacks and internet traps are also rapidly increasing.

So it is truly in the hands of the individual users to do safe digital transactions. We have to remember that cyber security is something we must consider at every step we take online.

So the government has to take steps to train and give a deeper understanding of digital transactions and cybersecurity, to all type of people. So that India economy will safely and successfully turn to a cashless economy.