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

Yes, I think digital payments are secure for the Indian economy because all experts persons are knows about its merits and demerits and how we transact on it.

The digital payment is needed but not to a cashless India.

In this advantage, the work for engineers can be recruited more.

In the case of disadvantage:

Nowadays the Indian government is going worse and there will be no guarantee for the safe of cash.

Beyond to the safety, more Hackers are improving they can easily watch your current activities.

The problem is there is no safety for cash and in case of emergency, we cannot assure the ATM debit card credit card will work.

In my thought Having cash in our hand will be useful in the emergency case.

Doing digital payment there will be an extra charge for the payment is applicable in some banks and after some years the tax will be increased in order there is the large recruitment of IT sector peoples for the process to claim their salary.

Yes, this is a time to make India cashless. Nowadays, there are so many digital platforms like Bhim, Paytm, PayU etc will save our time in banking transactions. In earlier days we have to stand in long queue to perform banking operation and it has to take a long time to proceed. My point of view we have otp and right click will go to operates accounts and we have apps like bhim, paytm, goole pay etc.

Hello Everyone,

I think digital payment with trusted payment gateway is good for the Indian economy to go cashless because see to remove corruption from the country we have to take our steps towards cashless India. And for that we have to implement all possible resources that will help us in implementing cashless India and secure digital payment will play a key role in that.

I think that India has progressed enough digitally to agree with this topic. We can not say it is 100% secure as we can not see how it is happening digitally like magic so keep on transacting online as there are cyber crimes happening I have heard of. We need to consider and support online transactions with security precaution and care. In fact renowned banks like SBI, Axis, BOI are having a partner company naming cpp India for the security of the credit and debit cards of their costumer on insurance. I think it can be made up to by our little efforts which can make old and needy people understand that it is very easy and secure to go with. We should give them a Demo how will it work. That's all very soon we will be totally in digital currency.

When we pay digital money for all primary and secondary products for consuming. While digital pay have proper bill and tax payment and other regulation of goods consumption act. So there no hoarding of money. The sales centre's are definitely pay the goods and services tax.

Digital payments are secure enough for the boost up of cashless Indian economy reason being India is the 5th largest economy by nominal GDP in the world and have had progressed a lot in IT sector. Keeping in view the large educated population it is the best way for getting hassle free banking services at yours finger tips. It is also helpful in controlling physical movement of money and can save you from theft of hardly earned money. It could be a best way for curtailing corruption from the society. The country like India is not progressing due to large spread of corruption, but due to digital payment transparency will increase. Although security is the major concern in digital payments but now the banks and other digital payment gateways are providing latest updated software under the supervision of RBI and also guiding the public through various modes like newspapers, TV etc. General public is also getting aware of it and using digital payment with precautions. I think its a habit and once you habitual of it, it becomes so easy to handle digital payments. Fast with 24 hrs availability is the beauty of digital payment which the public are cherishing.

Yes, the digital payment system is a very good thing to keep money safer. Till the information is not there in the hands of the cyber hacker person.

The cashless payment is not good for the illiterate person who has no idea about phone or the technology.

Hello All,

Personally, I feel India is not yet ready to go cashless at this stage, although that would be an ideal target/goal 20 years down the line. I say this because 70% of Indian population out of 1.36 billion lives in the rural areas where there are no / less internet connectivity and awareness on the use of Internet and related facilities. There needs to be effective Government plans and initiatives to enlighten people with the use of digital payments.

Also, using the payment giants like Paytm, Billdesk etc. Calls for the use of smartphones with good internet connectivity - something that is far fetched for the rural people.

Hello, everyone.

I think it is great to step towards a developed nation, but first of all, we have to check our education system.

Because most of the people haven't any account on Paytm or other transaction apps. They don't know much more about them, so how we can say that it is enough.