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

Hi guys,

Yes, digital payments are very much secure for the Indian economy to go cashless. In fact there are numerous benefits of using digital payment, we can't hide a digital transaction so every transaction will be a tax paid one, which increases the revenue of the government leading to increase in the economy. Developed countries all around the world are using digital payments because of its vast benefits. The only thing that should be taken care is of is its security and to bring awareness among people about how to use digital transactions and its benefits.

It might be difficult at the beginning but in the long run it will be very helpful for the country.

Yes, it is a good thing for digitalization in our country. It saves time & there is no hard work to do. But remember question is how to secure the payment? How to know in urban areas people? Yes, it is big problem in the Urban area. But nothing to worry about that because our country fully not cashless as early as possible so it is a long process. I hope that one thing is that every school & colleges gives lessons about cashless payment. Students will learn things & accept. And last one thing is that every company worker should go cashless payment. The New generation takes the decision for going cashless. Everyone sure that our economy goes cashless.

Hello, everyone.

I think if you are not ready to be wrong then you cannot achieve what is right. Demonetisation is a very good initiative taken by our government But it was implemented with half preparation. And so digital payments are not secure enough because of increase in a number of fraudulent and lack of some policies. We can definitely make it secure by educating or making people aware of digital payments and how to do it in a correct way.

As we enter the cyber world nothing is safe enough. But proper precautions can let us stay safe from hackers.

My point of view is it is secure to an extent but we can make it much better by some preventive measures.

Digital payments if we talk about in reference to developing country like India it will play a catalyst role for growth of the country but in present scenario if we see than digital payment are not secure enough to go cashless because India don't have good security system to prevent people from malware attacks and frauds as just few days before India is one of the victims of Aadhar card of 135 million people leaked from gov site and many people in are still unaware about digital payments which increases the cases of financial fraud so first necessary education to be provided and proper security system should be there then also digital payment should take place.

I think digitising is the smart step ahead of the future of India it will definitely save our valuable time and will help transitions easily and it will provide other advantages also.

But just think for a second what about the people who are not able to buy Android or any device which supports this digital transformation the people who lives in village and depends on only hard cash they have in their pocket also for the one like us there's another major point is this going cashless policy is secure?

I think this transformation has both the sides of the coin and I am will be please to know if there's some suggestions or ideas about these problems from you all.

Hello mates,

Going cashless is a good step towards country's development, we all know that. But, there might be two major problems in front of this step. One is "Not enough cyber security", to which I think that today India has enough advance technologies through which we can overcome this problem. The second is" Lack of knowledge among people ". For this problem, I think it's a positive step. It' like killing two birds with one stone. You might b thinking how it can be so advantageous? I'll tell you.

On one side our people would get a chance to learn and explore something new and at the same time on another side they'll understand about the cashless scheme.

Using real cash starts with the struggle to stand in queues for money and ends with pickpocketing in crowded public places. Introduction of digital payment methods has made it easy. Now, you can access your bank accounts on your mobile or tab and do transactions in seconds and every transaction is recorded which indeed helps people. There is no stealing of money by people around you. So yes, it is very secure. What we need to understand is digital payments in India has not been a big success due to unawareness and lack of education. The government should take necessary steps to make people aware and educate them enough to stand in this digital payments system.

India is a large country with a very large economy. It is also difficult to maintain money in our home and also in banks, However, it may be unsecured. Giving exact change in shops is also another problem. By using digital payments it provides easier way to buy products. Digital payments provide a way to solve many problems regarding this issue. However the major issues like people do not know how to use this payment methods. Many people in India are not used to digitalization however proper awareness programs on digital payments may increase the chance of improving digitalization. India should be careful about the security issues since everything goes online.

Hello friends, my name is shyam and I'm going to tell something about this topic.

I think in India cashless economy will be possible if the people (persons who using the internet) will responsible to create awareness in atleast 10 person about the digital transaction.

Many people have write already about this topic but if these people can create awareness then it will really be the great change in the India by your small effort.

You people can aware your relatives about digital transaction.

Without awareness and without your effort India will take very long time for cashless economy.

So, you guys can contribute a lot towards digital transaction.

Thanks.

Yes, they are secure as in other countries. The only difference between us and the other countries is the rate of literacy. Obviously, we are less in literacy rate. First of all, we need to learn how to pay digitally. Someone of us would say that it is a big problem. So what, we do not wait for any problem so that we can solve it. What happens, the problems occur, after that, we find the solutions. Yes, it is a big challenge to make everyone in the country learn how to pay digitally, but not bigger than those challenges that we have on borders. Even the senior citizens are accepting that it is good to make payments online instead of making a queue somewhere.