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

Greetings to everyone,

After demonetisation, people are using digital platforms for payments. I appreciate the government steps to boost up digital payments for cashless economy. And this will continue India will be a fully digital economy very soon. But for now, still people do not believe in digital payments. They don't consider it as safe and secure payments. So first of all, the mindset of people are to be changed. Second, in the ruler areas where interest connectivity is major issue and people are not aware of the digital payments. So, WE and Government if both work together then India will become digital economy very soon.

As per my opinion, the idea of cashless India is sound, but it becomes difficult to implement and the people are concerned about the safe side as there is great danger of cyber crime they may not make their contributions it on us the young youths to spread awareness among them to go digital.

Yes, I agree that digital transaction is much more secure than carrying cash in hand. It is safe while you are travelling from one place to another place because it is not easy to carry a large amount of money. In my point of view, each and everything should be online. But in case of India major problem is that 80% of the people do not know how to make digital transaction so what we can do we can give training to such people mostly in rural areas. Digital payment will reduce the corruption as well as black money.

In my opinion, going cashless is a good idea.

1) Easy payment of bills, no queues.

2) No need to be worried about getting your wallet mugged up.

3) No theft of Tax.

4) No bribery.

And about being secure, If it is not up to to the mark then we can definitely improve our security system from the money which will be saved from corruption.

In my opinion this is the only way in which our system can be corruption free. As all the transactions will be recorded.

But do remember, 70% of our population is from rural areas where the internet connection is very poor and many people don't know how to use it so proper training should be given to them for at least a year. And internet services should be improved then only we can implement it.

Well, As far as I am concerned that digital payment, is good step which is taken by government of India, It is time saving & also secure to all the matters. There is no tension of losing money in traveling and another point of view. The government should conduct awareness programme regarding digital payment, There are many types of person living in India they are not educated to understand. Govt. School & college is the good platform to conduct awareness program class without spending extra money.

Hello friends,

According to my knowledge, the digital payments are very secure enough to change the Indian economy drastically. It has pros and Cons.

Pros: With these digital payments (online transactions) we no need to carry money and no need to suffer at banks also. Nowadays corruption is a common thing in India by using these digital payments Even we can control a lot of corruption occurring in India.

Cons: Actually everybody should follow this but it is not possible by everybody due to lack of illiteracy in villages and anywhere. So many members don't no how to use the online transactions.

Methods to follow: So the government has to take a step that government should organise camps in each and every village regarding online transactions and should teach them how to use online transactions.

Going cashless has biggest benefit for our government that it will bring more transparency in the system and it will help to eradicate corruption.

It will be secure only when people are aware of technologies, how they can keep it safe it should be ensured by the government. Here in India, many people are not familiar with technologies, so transformation should be gradual then only it will ensure safety.

According to me, it's a useful technique but it can't change the entire economy, because in India lots of people haven't enough knowledge to do it by its own and one of the most important thing is that we have to pay certain fees after 50-60 transactions, its not easy to applicable for all (in India) and first step is to educate the people with the digital system (especially rural people because cyber crime is very common in world). Thank you.

Obviously, cashless economy will be helpful in our country's growth. As it brings more transparency in the system which will lead to less corruption. It also diminished the need of carrying cash and also don't let people to wait in lines for cash withdrawal.

But when it comes to security of digital payments, even many of educated people are not trust them. As illiteracy ratio is quite high in India therefore, before introducing Cashless economy everyone should be educated about its merits, demerits and methods of using them.

Yes, they are secure and they are future. We all know about 3d level security and now UPI and Adhaar based payment utilising our fingerprints. It's much better than carrying a lot of cash and being vulnerable to thieves and losing wallets etc.