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

No, I think that this is not the right time for the introduction of cashless economy. Because there is not such major step is taken by government regarding its security.

On the other hand, in the rural area majority of people are not having smartphones and also not aware how to use it.

AS WE ALL ARE YOUTH OF INDIA WE ARE ALSO RESPONSIBLE FOR THE DEVELOPMENT OF OUR COUNTRY. So, we should take a step forward for the awareness of process of digital payment to the people who are not aware about it.

Security is not a major issue, government agencies is working on it. We all are aware about the government motive to link AADHAAR with all our transition accounts.

Yes, the digital payments are secure enough for the Indian economy to go cashless for the aware people only. But there are problems with the illiterate people and the solutions are that for illiterate separate department should be opened and the workers working in the department must be trustworthy and the concerned department should be responsible for any kinds of fraud or illegal activities with the digital payments. With any kinds of new ideas there are merits and demerits as we all know that corruptions are reduced, time is saved, there are less traffics on road as a result low air pollution and natural resources such as oil, gas etc are also protected.

One of the steps taken by govt to fight against black money by making cashless economy is a good idea but this is not the right time to implement it!

1) Because of most of the business man especially small retailers afraid of adopting online transaction as this may eat their profit margins due to high service tax.

To this Govt should introduce new tax reforms to encourage small retailers.

2) Most of the people are unaware of online transactions, especially in villages!

To this Govt should take necessary steps to educate people and make aware of online transactions!

And also Govt should implement high-security measures to stop online frauds and hacking!

I think digital payment is better option rather than use cash on hand as in India people are very clever In some SBI banks people noticed the pin number and then it leads to problem when something awkward happening in their account so if we use digital payment we are free from cyber eyes or robbers as digital payment method will also increase our country's economy even labour work will be reduced if everyone become knowledgeable of digital payment method then people can do additional work with do payments online, and transection will be few seconds people also doesn't get worried about whether the money goes or not as this problem occurs in offline payment.

In my point view, The digital payments are secure enough to cashless but not 100% secure enough, Our government will recover few pitfalls in this payment mode after that we can easily reach our goal (Cashless) , Once we will reached our goal, our country convert from Developing to Developed nation.

1) The main problem regarding digital payment is Digital Literacy and lack of Awareness about digital technology and Cyber threat.

2) Still now our Indian security system follow our old security protocols, This will create on 1991.

So our government and common people put a lot of effort to rectify these pitfalls, After that only our Cashless goal is achieved.

No, I don't think that digital payment is secure enough. Because we all know that India is a developing nation not fully developed yet. Also, a huge population of India is living in rural areas there were no electricity so if there is no electricity there will be no internet connection so they can't transact money. Now coming to literacy rate in India, it is also well known that most of the villagers are illiterate they use cell phone for conversation only they even don't know the whole function of a smartphone so they can't. Now as we all know that for a digital payment we need high-speed internet and an average speed of internet in India is only 3 Gbps.

Use of digital payments are partially enough as India focuses on inclusive growth but this facility of government can be utilised only by middile or elite section of society. Now also there are many places that are lacking this internet facility. 37% of people are still below poverty line. They even don't have proper food to eat then what they will think of buying android mobiles or having net connection. Benefits are there of using digital payments like inc. In transperancy, reduction in black money and corruption, financial inclusion but this all can only be possible if technological system is improved and everyone can afford smart phones.

Thank you.

According to me digital payments are secure payment process but there is a disadvantage too because many people don't have the knowledge of digital payments because if we make a statistical survey then almost 40 to 45 percent of the people are illiterate which needs to have a proper knowledge on this thing so awareness is required for these people and otherwise this is a very helpful thing to move cashless and if the cost of anything we are purchasing is having a very price then it is a very suitable mode of payment without any problem.

So finally in my opinion a proper idea should be given or advertised in order to get a prior knowledge on this thing.

Hellow guys.

According to me, it is very necessary for any country economic. According to me, it should be spread all over the country. Degitialligation saves our time. It also saves our environment because the use of this we can save more paper and trees. But we know that it is not easy to spread fastly in a whole country. Because now some rural area's people do not about it how to use. It main difficulty to hacking but the government should tell about it to rural people. By using digitalization people can save time. A farmer can also save their time and they have no fear to lost money. And they can also know about a scheme of government.

Thank you.

According to me, the digital payments are not secure enough for the Indian economy to go cashless. As it needs proper technology, awareness, knowledge, connectivity and in the country like ours connectivity is very poor although jio has reached to a great extent still all the rural area has not developed yet and also digital transaction can be failed, can lead to money loss to that person who is in urgent need of it and his cash is faltered.

So, prior to digitalisation, India needs development of rural area so that they can also use it properly and also it needs a good amount of trust. i.e the transaction can be cashless if it is not faltered between.