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

As my point of view, yes, digital payment are secure the Indian economy to go cashless because our country is 121 crore population country so between these it is difficult to find out a corrupt candidate without cashless and if payment happens a digitally then a lot of money will accumulate in bank which will give help to needy person as well as will be helpful to boost economy. It has a so many indirectly advantage like if we go toward a cashless payment then country's economy will increase other hands our country invest a lot of money to print currency if we go cashless then also save a lot of country's wastage money to print currency and this saving money can make a powerful in defence area.

When we talk about going cashless the point which is implied is that cash transactions are not safe and that when an individual pays for the transaction there is no proof that whether the cash used is hard earned or earned through corrupt means. So, when we think of going cashless it is surely a positive initiative as it would mean that the money used in the transaction is surely white in nature as the explanation can be demanded then and there. Now it is well known that there are many cases of cyber fraud and thefts so government should strengthen the cyber laws and study the cases of cyber frauds carefully so that none of that sort happens in near future. By doing this the government will be able to reach its ultimate goal for which the whole initiative is for i.e. to remove corruption. Now, all we can do is wish the government all the luck and do our bit as well by reporting cyber frauds if we come across any and not ignore it.

Not enough, sometimes cash payment is to be needed. In all cases, it is not possible to make digital payment for eg day to day expences.

Hai friends.

Yes, digital payments secure enough for the Indian economy to go cashless. So that no one can theft our bank details or any other information about your bank and all. And black money will be reduced. It will be good if digital payments are come to use before that government should make the people aware about the digital payment otherwise uneducated people will face many problems before implement the digital payments government should be made them aware about this.

Digital Payments are of course secure unless they are done wisely. In india, there is a strong need of spreading awareness about using internet as a medium to pay.

There is some possibility to hack our account by hackers. It doesn't mean that we can't go cashless, but we have to take precautions when doing our online transactions. Like don't share our OTP to anybody, don't share our bank details, login id and password to any person. If we take precautions while making transactions then it's not harmful for us.

Yes, Going cashless and using digital payment system is totally secured. It's saves time, paper works and manpower too. As we can see that the counties who are developed now are one of the digitalised nations like USA, Russia and China as well.

For a country as populous as India this question is a debatable one. If we say yes it is secure enough for our economy to go cashless we might be forgetting about the numerous hacks pertaining to data, banks etc which have been happening because of technological advancements. On the other hand if we say no it isn't safe we might be hampering the main reasons behind such an initiative of the government. A cashless economy reduces the risk of theft, gives the government better understanding of the cash flow in a system which further strengthens its tax collections and can ultimately reduce corruption.

I think there is no one who can say that India is not ready to deal with digital payment. We are here talking about the country who is establishing their own space satellite in the moon and according to my point of view India is ready and can set an example for corruption free transaction. Nowadays we can easily pay money to vegetable market as well as in the mall without the loss of a single paisa. Earlier we have seen that if they don't have to change we were forced to buy chocolate and vegetable forcefully but now we buy what we want.

And I summarise my point that India is ready but the customers are not ready to get the advantage of that.

Hello to everyone,

According to me, India is still not ready to go 100% cashless. If we talk about cashless transaction then first we should have a look upon the literacy rate of India, which is only approx 74%. With this literacy rate are we even supposed to talk ar discuss in this topic. But there is a catch, we can still make digital payment cashless by making an app that's united all over India just like an Aadhar card which is mandatory in each and every phone for cashless payment which can be made fully protected. The app should contain visual symbols so that even an illiterate can understand or we can give tutorials to the older generation via youtube or anything. These are the basic fundamentals for making India cashless.