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

I think, before making India digital. The govt should think about how can people who live in village or remote area adopt this type of new idea. Because most of them are illiterate, most of them don't even know how to fill up a form. So how could they learn about the process of cash withdrawal, cash deposit, balance check, transferring money from one a/c to another a/c.

So, I think, the govt should creat a new and easiest process by which they can learn about basic abcd of banking, the importance of banking, the advantage of adopting such cashless process.

If they learn these, I thnk in future they can very easily access this method.

Thnk you.

Hello friends,

Our country is currently going towards to become cashless and it is very much important to aware the people who do not about it. It decrease the chances of robbery and losing the money. It assist us to transfer the money through mobile and we can fill many kinds of bill such as electricity, water and can book the railway tickets and other transportaction tickets. It helps us lot to secure our money and its time to patronize the people who are not aware of it. It is only possible by floating awareness program among the people. From the last month some states of our country taking steps to be cashless specially in the rural area's.

Going cashless is basically like two faces of a coin, having both its pros and cons. Going cashless means our government will be able to check on the amount of money transferred, the transactions can be checked and hence, better control over administration as well as finance. But in the meanwhile, going cashless would make the person go vulnerable as there are many out there waiting for just an opportunity to hack into a system and steal the valuable information. The best way is to provide awareness and education regarding this and providing better security. Only then people shall be sure enough to have their transactions online and go cashless.

Hi everyone.

According to my point of view, digital payment is a good way to prevent corruption and also it help in growing Indian economy. Most of the people think that the digital payment is made by the third party so it's safe or not?

But in my point of view, it safe and secure and we also have done easily payment.

I think it is a great initiative taken by our government. But we know that in India most of the people are from rural area and they didn't know about the digital payment even hi don't know about how the transaction occurs from atm. So govt has a right implementation for such area people and educate them about the digital method.

Digital payment is a very good step taken by the Indian government. Digital payment makes possible for the people to get the thing done by sitting at home and going outside to purchase that. Yeah, It is a good step but not taken in the correct manner. Before making everything digitised people should be aware of the tools of it and the proper use of it. It is helpful for those who are able to use it but not for them who are poor they are not able to get their things done who don't know the actual use of some cunning people make fool of them and harm them or their money by charging extra and all so it is good to step but without proper execution.

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.

If we are talking in context to present Indian scinerio, digital payment is more confined to urban areas. For rural areas digitilazation have to go through a lot obstacles like electricity, internet issues, illetracy ect. India is lack in literacy, so it first hard job to make people know about digital payment, after this we have to make him believe about its security and benefits. As in India people are not so educated so they are more prone hacking. So it's government responsibility for security of digital transaction. Finally, reference to present scinerio digital payment is secured for those who are educated it is insecure for illiterate.

The efforts made by the Indian government to make India a cashless economy and curb the black money under circulation is appreciable. This also promotes faster payments, better transparency and removes the need to carry physical money. The major threat to this process is "cybersecurity". The recent theft of 32 million Rupay credit cards online is a live example to show that Indian cyber world is not soo safe. So I agree that even though it is a very good move to make India a cashless economy, this should be done gradually by also improving other infrastructure like cybersecurity and also education poor people to use digital modes of banking.

Hello everyone,

I am Arjita Srivastava.

As we all know that India is a developing country. I do agree with this that digital payment is secure enough for the Indian economy to go cashless. It doesn't need any middle man for the payments. You can easily share your payment to anyone anytime at anyplace. This is secure as it contains OTP on the registered mobile no. It's safer and easy to use. This has reduced in thieving, losing wallets with no worry as money is safe. Yet, it's little bit difficult for the people who are uneducated though we can solve it out by educating people about the digitalization and help Indian economy to go cashless.

Hi I'm Sreekanth,

As per my point of view digital payments and cashless transactions are more secure and safe, it even helps to control corruption to a great extent. The digital payments can be made very secure by invention of anti-theft firewalls or technology.

Coming to rural areas it will be very difficult to implementing digital payments due to literacy, improper knowledge of security and don't have a proper infrastructure to developing online payment.

Finally, India will go cashless but it takes time to adopt that system and it requires infrastructure with complete awareness along with a fully fledged security of online transactions.