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

Yes, I do really think that going cashless will benefit our country like India. As we our population is more inclined towards youth progress and development and almost 90% of them know how to make online transactions by doing cashless payments.

1. It will help enhancing our GDP and Economy at the market place.
2. Fear for theft or stealing money, corruption ofcourse will be reduced.

But, as 1 coin has two faces there are some drawbacks too.

1. Hacking and Cyber Crimes would be increased and sometimes it becomes difficult to track the hackers or the individual who is involved in this process.
2. Lack of knowledge in remote areas of using this cashless transaction.

Hello folks,

India is leading towards development. One of the most important factor which can help us to move forward is digitalization. Cashless India is one of the resource through which we can achieve this goal. There are various reasons why we should make use of digital payment. One cannot have all the money in hand.

Many people are uneducated but we should not sit idle because we don't know how to payment. Such people should be taught how to do this. Then only there will come time when uneducated ratio will have down. People will get used to these things. Then the campaign which PM has taken will get successful. That will be the first step to the development.

Yes, digital payments is a secure way and a very nice step of Indian government to go cashless. Of course, it will reduce fraud, corruption and terrorism because the more liquidity in the market the more chances of corruption and fraud. Also, it will save time and efforts. I read all the comments above some are arguing that in rural areas most of the people don't know how to use ATM cards, online transactions etc. So I want to put a single point that only 10 years ago had they any idea about touch screen phones? Nowadays they are using it without any issues. Every good thing takes time, so it will also take some time and will be in line even in rural areas.

Thanks.

Hello guys,

As per as my view towards this digital payment is that our government did a great job but if government won't think over surcharges which are implemented by bank and other organization related online payment so graph of using online payment will go down for sure. If government really want 100% result from digital payment so government should take strict decision in it and remove all hidden charges.

I know it is very hard decision to remove all surcharges so what! government took lots of charges already in many areas like property tax, income tax, many other taxes & high interest in loan so on. So it won't be burden on them if they do so.

Jai hind.

In my view, digital payments are the most useful for doing transactions as it saves our time and the crowd in the banks.

For doing international transactions it is the best way for businesses, for local vendors we are using options as phonepe and paytm, and as technology is growing it's quite easy for us to secure it.

We have seen very few cases where the transactions are failing and it is not secure, still we have right to complain and ask about our money.

As people are getting more wise in going cashless it's benefiting India.

And technology is still developing to make it more secure that's why I think digital payments are secure to go Indian economy cashless.

Hii.

In my point of view going cashless is good for Indian civilization as we all know India is the country which is developing very fast in every aspect. Then why not in transaction too. We must support cashless transaction because it will help us lot.

The Advantage of cashless.

1. It is highly secured undoubtedly.
2. It is transparent to the government which will reduce corruption.

But in some ways, it needs to improve that everyone should know how to transact properly and safely.

In every location, it must be implemented because in some location it is easy to go cashless like in metro cities but in rural areas, it should implement from the grass root level.

Hello, friends.

In my opinion, digital payment is secure for the Indian economy to go cashless at a larger transaction. At the level where robbery and fraud are possible so to get rid of these problems, digital payment is an important step.

But in a smaller scale like children run towards ice cream seller and buy an ice cream of 2or 5rupees. Is this fair that guy swipe the card enter the pin and then taste ice cream.

At last, after reading the above view I also came to a point that user should be aware of the terms and conditions of use that card and it's a security measure and this can only achieve if we raise our standard of education in our society.

Thanks.

Hello friends,

In my opinion, Yes digital payments secure enough for the Indian economy to go cashless and it's a great decision of our government. Trough this step corruption can stop if it will go long. Day by day corruption is increasing, in this time some few person who is paying tax. Also, we can say that corruption is spread everywhere in India and I think it's the best step to remove corruption. Also, I agree that some problem will create but that problem can face. This is India there is no any problem that can't face because we are Indian we have "jugad". So we should adopt this step It's good for us and our country also. That's all.

Thank you very much.

Yes Modi 's digital payment scheme for growth of Indian economy is a good sign for all of us. It will surely improve our economy status. As per as the previous records. There are lot of issues we all have faced in regular basis regarding money transaction by hand to hand. Like there are some agent in India who are mainly working on making those fake notes. N because of them we facing sometimes worst situation. So this is a time for all the Indians whether it is a rural or urban no matters, it's our country. If we have potential to make our country cashless which can remove corruption up to certain level. Dn this is a golden chance to adopt digital payment scheme.

According to my opinion, digital payments increase the country's economy and will prevent from corruption. But on the other side, most of the people in rural areas don't know how to use e-banking, cards etc. And they can't afford money to buy smart phone and recharing with internet packs. To have advantages for government, it should create awareness to people and reduce the service tax and providing some schemes. As the technology is increasing, the hackers rate is also increasing. So, we have to still improve the technology and should have proper cyber security. Whatever may be the step the government takes, first people have to take initiative in following it.