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

Hello everyone,

According to me, digital India's step towards digitalization is a proof that we are getting educated and developed. But in India itself a large group of people belongs to a middle class family and some people even living in the urban areas are not as much aware about digital payment or there is some lack of knowledge which makes them feel discomfort in using such type of technology. So, first in foremost need of the people here is to be educated about such things. Here education does not has anything to do with rural or urban areas, it's just you must have that curious being in yourself who is eager to learn new things.

Thank you.

In my point of view, digital payments is good and secure. It has positive effects as well as negative effects. It is good for our country. India will become ecomically very strong. Citizen of India uses as much as they can use e wallets or m wallets apps. Due to digital payments the Corruption and the Black Money become lesser. Using digital payments we have all details about the transaction.

But as we know the cycbercrimes is enhancing. The country which is well equipped and has good technology should easy handle these cyercrime.

But India is as far as now is not so develop country.

At last I only conclude that digital payments is good thought.

It is not full proof plan for our economy, as we know everything has its own darkside. There is not only point of security of money there is always point of availability.

Assume a condition you're going for exploring and get stuck in rural area where is no range in your cell phone tower, village have aleredy problem of load shading and no atm far long. You donot have a single coin with you only have upi payment app and debit card and need to get a cup of tea on tea stall how should you get what you want there if you are cashless.

We don't pay attention about cyberthreat for cashless economy.

Economy with 60% cashless and 40% cash is best option.

Digital payments are indeed the best way to pay your bills as you don't have to go anywhere and with just a click your bill will be paid. But as everything has its pros and cons we should not forget how risky these transactions can be sometimes. The account can be hacked or the transaction from fraud sites may empty your account balance. So while doing transactions you should have adequate knowledge of the particular site. In India Digitization has recently been introduced so many of the people have inadequate knowledge. But as every new thing takes time to grow. We want our country to grow but at the same time, we don't want to adopt new changes.

Cashless economy is must for India but not right now because it still needs improvisations regarding the security on internet. If you observe, recently we have warcry ramsomware attacts all over the globe. This shows the level of security on the internet. We can go by the digital amount only to some extent because hackers will be able to hack us while we are making the payments. Or by hacking our digital accounts. Since some people are new to this, they might face lot of problems to go by cashless. This requires lot of time and lot of improvisation to our internet. So it takes time to go by digital payments but only to a certain level.

Thank you.

Yes, digital payments are secure enough for the Indian economy we need to agree too that it is not totally secure but as far as it is concern with cash or cashless then the cashless is pretty cool option. With the help of this corruption will decrease, bribe ratio will also decrease and it saves the human effort as well as time. But it is helpful in urban area only when we talk about rural area only 30% (approx) of population know how to make online transaction, so the govt have to arrange some awareness camp some experts have to teach the rural population about the benefits of go cashless scheme and as a result illiteracy rate will also decrease.

In my opinion digital payments are the right thing for India's cashless economy. Because we can do digital payments as per our convenience. We no longer have to stand in the queue for payments. And in India most of the people use Internet. So they can easily do digital payments. And there are many applications available through which we can do payments and also receive some cash backs.

But there will b some difficulties for rural people as some of them don't know how to do this. But as per the passage of time they will also learn this advanced system. In order to make our India a fully digitalized country we all people should encourage this step.

Hello good evening friends.

I think it is one of the best topics for group discussion In my opinion, everything comes with advantages and disadvantages, digital transactions are no doubt helps you go hassle-free as it would help you save your time to stand in queues at the bank. The problem can happen even if you are doing a cash transaction, for instance there have been people who have encountered snatching of there belongings. It's just that you need to be vigilant and careful enough. Although it has many this advantages still it may help lots of people to do banking transactions without the problem of day and night or even in public holidays.

If there is problem, there will be solutions. If there is cyber crime, other side have cyber security. The only need is of awareness. India is technologically developing. In todays fast life, Digital economy is performing crucial role. It is very time saving and security based if we follow secure system. For such reason awareness & education, trainings are necessary. Please go with official sites who guides the valid payment procedures and do not believe the information shared by social sites. Digital payment is smart technology which gives comfort life. We should follow the same. Going cashless and adopting digitalization is sign of success.

Hello everyone I think digital payment is important for progress of developing country like India but if we think practically then we will find that most population in India belongs to semi urban and rural area where people in today's are far away from technology use so for Indian economy to go cashless need more time so that necessary education regarding digital. Payment should be given to people who don't know how to use online services and even many people are still not in touch with the bank they don't have any bank account and if we see today than there are many hackers attack in India and European countries which are a topic to worry about.