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

Hi friends, As per my views digital payment is good enough as it saves time. Making payment of the mobile bill, electricity bill, movie ticket and even for recharge of mobile, we have a stand-in queue for a long time. Digital payment makes the work easier way transfer of money etc. Is done with safe and within the time period. On the other hand, as technology is advance there should be proper security from hackers. As we know in urban area digital payment may be used smoothly but on another side, rural area people should also have knowledge about the same. As digital payment save the risk of carrying hard cash.

Digital payments should be essential due to which we can save our precious time. Using various e-wallets such as Paytm, Debit card, Credit card etc. Cashles transction are easy to transfer money and it avoid spends hours in the qeue.

But it also has limitation.

1. Nowdays cyber crime such as hacking are increasing rapidly.

2. Together with advantages of cashless wallet increases digital fraud is also increases such as hacking of atm card.

As of what we see now, our future is going to be all digital. We all know the advantages, the convenience and the ease of using a mobile wallet for the things we had to stand in line for, be it the electricity bill or the movie tickets or even your mobile recharge. But as our topic of GD goes, do we have the infrastructure required for going completely digital? No, we don't for now and we all know that. Although it's progressing rapidly, we don't have the base required for going complete digital. And it's not secure too. The latest Aadhar leak can be an example. Personal details of millions of Indian leaked and what happened? It was not even reported properly. The one who reported, got an FIR. Here I want to point out that the system we have is not safe and worst part is it's not transparent even. Besides there are millions who don't have access to a proper means of anything, not a proper place to live and no proper food. Even if the digital paymenta were secure enough, this would still be a big issue. More than 90% of transactions in India are cash based. It can't be changed in a day. It's a welcome change definitely but as for now, I don't think India is ready to go cashless. For I believe that it should not something that is forced on the people to do instead it should be something that people want to.

In this 21st century where make in India and digital India all play a very important role in the transformation part of the country, we need to give more stress on the part of SECURITY, is it secure enough for the economy to go cashless?

Going cashless is the trend, doing paytm, doing a wallet transaction thats considered as important and easy too.

But we want to remember is regarding the fraudsters behind this online wall. Who can easily crack our online credentials, before we knowing about it all our money will be transferred to Malaysia or Thailand. Most people in India use mobile and computers without proper antivirous and security system which make themselves as prey.

Technology is also not that great in India, but its improving at a good phase, thanks for the techies behind it. If the right and proper technology is not used then it is easy for the online fraudsters to crack and win the situation.

If you want to go cashless make sure that you have the right technology, right security system then go a head. But that is the major issue we face in our country.

The efforts made by the Indian government to make India a cashless economy and curb the black money under circulation is appreciable. This also promotes faster payments, better transparency and removes the need to carry physical money. The major threat to this process is "cybersecurity". The recent theft of 32 million Rupay credit cards online is a live example to show that Indian cyber world is not soo safe. So I agree that even though it is a very good move to make India a cashless economy, this should be done gradually by also improving other infrastructure like cybersecurity and also education poor people to use digital modes of banking.

I think yes. Digital payments make us to less worry about our money. We can buy anything we want by being anywhere on this earth. It help us to reduce wasting our time, makes money more secure etc.

As every coin has two phase one is positive and other is negative so digital phase also has two phase. Digital payments save users precious time. As we know that into days lifetime is so precious in everyone's life. It also makes our country economically advanced. Through digital payments, we take money everywhere and make payments easily. And digital payments play an important role in making the India digital.

As I tell you that every thing has some positive points as well as negative points so digital payments also have some drawback. Cash less payments increase the number of online crime. And digital payments have not used in cruel area and the uneducated people are not able to use the digital payments. Because of digital payments, some important information are hacked by the hackers so digital payments are not safe as Compare to physical cash.

Yes, I am in favour of digital payments. But everywhere digital payments are not eligible. They are secure because there is no chance For loss of money, there's no chance for theft also.

Digital payments is good things, it consume less time but in India it is not for everyone bcs urban people know very well how to deal with digital payments but for rural areas people it is not suitable.

Sometimes due to some ethical issue transaction is not secured.

Yes, I too favour of digital payment. Digital payment has many advantages such as transaction time is less so there is no need of queue which saves people's precious time. One can able to pay bills through online. Using digital payment reduces theft. Also, it has disadvantages such as. Not all people able to use digital payment many peoples are not having knowledge on digital payment. By educating all people's about digital payment will increase Indian economy. At the same time, digital payment should give more security.