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

Hi friends, this is sasikumar, today we are going to discuss about the cashless way for an india, yes the India requires that type of method for transactions, because India having many corruptions in world wide level. All the methods are having both pros and cons, the cashless way aid for the hackings, the main merits is that we are not depend upon any banks and also avoid the q's in banks. This is an information age so we must depend only the computers and smart mobiles.

According to me, going cashless is good but it is not the best for India. As digital payments method involve many problems one of them is cyber-crime and as India is an underdeveloped country so very few people have a good knowledge about this system. The retailers and the small shop holders they can't afford to go cashless and digital payments are useful and happen without any problem for large amount of sum but it is not that easy for small amount of sum. Many poor people are not well acquainted about this system and they had got mislead. As cyber-crime has being increasing in our country so people are afraid of digital payments. Most of the people are not well equipped with this online transaction. It is a good step taken to develop India but the Government should educate and encourage about this system to the people. And the Government exclusively focus on cyber-crime. That's all I wanted to say. THANK YOU.

In my opinion, digital transactions are secure enough for Indian economy to go cashless. Digital India is one of the flagship Program of the government of India with a vision to transform India into a digitally empowered society and knowledge economy.

"Faceless, paperless and cashless " is one of the professed role of digital payments.

Yes digital transactions are secure if we follow the guidelines, there are set of rules that needs to be followed to keep your digital banking secure and free from phishing. If we take care of those little points which we usually ignore, it is not very difficult to stay secure with digital payments system. People usually miss on small but essential guidlines that maintain secure payments system.

No. Because of most part of population of our India live in rural area, there are lacks of knowledge regarding with cashless payment, so there are chances of fooling to this people by seller or vendor. So I think before goes to cashless economy, govt should arrange various trainning-guide activity.

Digital payment secure enough for who is know about Internet banking or digital payment even educated people don't know about it. In rural areas, people not much educated if government provide 2.5 lakhs money of awas yojana to beneficiary account, Broker easily access money through aadhar authentication from kiosk banking.

In my opinion, digital transactions are secure but the main problem is that most of people especially in small cites and rural areas are not really aware about of digital transaction. And they are not very comfortable with the new methods of payments so want to stick to their traditional way of exchange that is cash. But gradually they will be habitual with digital transactions. But at the same time the regularities authories should make sure that the with the growth of digital transactions the security should not be compromised.

According to my opinion, I want to say that digital transactions are one of best improvements of our country. With it's help we can easily buy everything (from groceries to train tickets etc) in a very easier way.

We don't have to carry a bag of notes to buy precious things. During long journey it is really helpful. But everything has advantages along with disadvantages. We all know about the cybercrime, which can hack our transactions and steal the money. With this we also have certain problems, like in the native villages everyone doesn't have access to internet and technologies. So for them it will be very typical.

Answer would be yes, as digital payments are secure enough to compete with today's world. But the main problem is with the retailers, shopkeepers, they're the one who hesitate to accept money through any of the digital payment method. Thus, it is necessary to make them aware of it. As going cashless and working with digital payments would be a lot beneficial for the Indian economy and would be easy for us also.

In my point of view, digital payments is good but not best because it's good for the higher amount of transactions but not for a lesser amount. Secondly, there is always risk as you know heard of cybercrime. It's useful for only if you will give someone money but for all uses it is not saying satisfactory.

Firstly, no economy can go cashless. Rather it can be said that the economy can aim for less cash economy.

Coming to the topic, in today's scenario digital payment have become very prominent part of every economy growth. And having such a great IT secured network, we can trust on the banking system for going digital.

There is always some risk with a thing you hold.

Same is with money, rather it is in digital form or physical form. So digital payment can be trusted.