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

Hello.

Yes, I also agree with digital payment. It is better for our country but before doing anything you should know what will be its positive effect and negative effect. The thought of digitalisation is good but for implementing it you should know that what's our illiterate ratio. Most our villages have no electricity connection because of corruption, undeveloped or so many reasons. Then how it possible to make whole India cashless. Systematic and step by step development is better for India otherwise half of our country become expert and half of illiterate.

There is no doubt that Digital payments are secured.

1. Fast.
2. Convenient.
3. Always have a proof.
4. Scams can be avoided.
5. No more need to go to banks.
6. No fake currency.
7. No one can deny the payment.

I think digital payment concept is the most useful concept to make India digital. People who live in urban or ruler area have a lack of knowledge about this concept but I think if they are using nowadays smartphones that mean they are more curious about digital technology so people will also accept this digital concept.

Acc to my point of view, digital payment are secure enough for the Indian economy to go cashless. Yes, it is a big challenge for the government to convince the people of India to support them and go cashless but if the government will go step by step they will surely achieve their goals. As we know that more than 60 % of the people of India live in rural areas and without their support, this s not possible because majority always wins over minority. So, the first step should be taken for them only, govt need to educate people of rural areas regarding online payment but before starting they should understand that the willl not be as easy as compared to other issues. So, they should run some campaign regarding the use of internet and educate them the full procedure of online payment and try to convince them to learn with having some patience. Because they are not having the knowledge of this at all unlike the people in urban areas.

Secondly, it should me made secure enough so that the people feel free to do online payment rather than handing them cash.

Thirdly, government Should again and again make aware of the pros of going cashless to the people n try to gain their confidence asap to get the better result for the Indian economy.

And we should help the govt in this by relying on them and promoting this but carefully.

As not telling anyone - your atm pin are a/c no are any confidential thing to the strangers are blank calls from the bank sd.

See anything can't be achieved so easily we need to do efforts to achieve the goal with full confidence.

Many newspapers stated that due to demonetization people affected a lot and govt has taken many initiative steps to flourish digitalisation launched LGY, BHIM, UPI.

But actually only 0.2% people had participated.

In digitisation. So India first needs to develop in the education sector and motivate and create awareness on digital payments.

As per my view, I am strongly opposed digitisation.

When the government announced about digital India and Cashless payments, many digital wallets and apps were developed and published to users by banks and other financial organisations to make payments. What do we do in those applications? we actually give our card details and do all payments and close them. Have we ever tried to check their authenticity ? its encryption codes? or safety?

Digital & the cashless transaction is the only intention of government but they are not aware or worried about the cyber crimes which is the major treat to the world after terrorism.

The Government should form a team to secure the countries and individual digital details just like securing the country with the defense forces.

In my opinion, I think that India going cashless is a good decision taken by our government. It might be an odd decision for some people because whenever the new things comes it looks strange for some time period. Like a coin has two sides head and tail every situation or every decision has its two sides which are its pros and cons.

The pros are that one donot have to carry the huge amount of money and worrying about getting the money stolen by the theft and the other advantage of digital payments are that when things get digitialised, the things can be accessed from anywhere at any time moreover the things can be get done by sitting at home.

The cons are that hacking. The transcations can be hacked by the hackers making for the people to think again as they may get their money in trouble in some way. Secondly, the people from rural areas who donot know how to use computers may find it difficult. But I think people should be made aware and they should be educated so that they can also participate in making India digital. Its a good step to put the corruption to an end.

In my opinion, current digital payment systems are secure enough for daily transaction. Currently we have two factor authentication system in place, which includes one time password that is sent to mobile when someone tries to make a transaction. The system can also be made more secure using latest tech like blockchain technology.

However, as the question is here about the transaction of Indian economy to transact from cash economy to cashless, the Indian economy is in a nascent phase for that. Still in the villages or tribal areas, the population has little to no financial inclusion. Additionally, not many people are technologically educated.

Thus, the best solution for the Indian economy would be to build an economy which features both cash and digital transaction methods. We need to become a Less-Cash economy before Cash-Less.

Yes, digital payments are secure enough as it will reduce the robbery cases and every time we don't need to carry cash along with us it will reduce the corruption as well printing cost of currency notes will also be saved and in long term good for enviormnet as well it will increase transparency as well bringing more revenue to the government.

Before going cashless we need to educate our population about what is cashless economy and how yo make best use of digitisation because on ground level things are this easy as Modiji opened bank accounts providing managers payment directly on account of people, in reality, most of the people in villages are not even aware that they have bank accounts they accounts are being operated by the sarpanch s of villages providing them less amount.