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

In India, Economy is the most important thing to be discussed. Today, India has become a digital Nation because everything is happening with Computers and other digital Machines. Earlier the people were withdrawing or depositing their Money by Cash and there was no such scope to deposit the currency with computers. Those days were not too much comfortable to pay Money with Cash. Carry hard Cash might be risky but now in digital India people use Computers. Digital payments have some advantages and some disadvantages like e-Banking. As we all know that we can transfer Money to someone's Bank account with the help of e-Banking that needs the person's Bank account details and other login details that will be so much easy to transfer but might not be secure. Hackers might hack someone's Bank accounts which will be the problem. To increase India's economy we have to pay Taxes for the development of the Nation and to increase the GDP rate. But with the help of Internet or net-Banking people might pay it easily. Everyone has Internet or net-Banking so that will be enough help for people to go Cashless. Other is PAYTM which is the best example of digital payments. We can transfer Money or pay Money or pay Taxes or any currency easily with the help of PAYTM. Digital payments can be electronic payments Like pay with Debit cards and credit cards.

In My point, the digital payment is secure more than the cashless payment but the one problem our country is a farmer so former are faced a problem they did not get the right information so they do not handle of the digital payment process. Digital payments are a very good thing and lots of time-saving energy saving also easy money transaction. Another is secure of the account information less hacking problem so my point of you digital payment more secure for the cashless.

India has the second largest population in the world i.e. if every single transaction here happens over the paper money, believe me, it will become so intangible to deal with it. Therefore to establish yourself towards a developed nations we have to go through various pains and going cashless will surely be one of them, but this pain ensures a great relief in future for sure. Now coming to the point is it secure enough?

Yes! of course, it is you have to go through various security level like you're card CVV no then a verification OTP msg following you're transaction message to your mobile no. Yeah, I do consider a bit of knowledge to the internet is a must but c'mon we have been crowned as the youngest nation for this decade and to be noted the no of smartphones, the buyer is toped by us again so we definitely know how to use the internet in our own benefit. So to sum up I will likely to add that digital money is similar to ordinary money it just you don't have to carry your hard earned money in a bag reducing your fear of getting robbed so it is a high time for every citizen of India to move towards digital payments and to believe the government strategies for now.

Good evening everyone.

Since Modi government came in to rule, 'Digital India' is one of the widely focused aeras. Cashless economy is also part of this campaign. Cashless economy consist cashless transaction which means no direct currency transaction but digitally transaction of cash via various apps and portals.

India is one of the developing countries. With vast geographical area India also have overpopulation, poverty, illiteracy etc. With all these impedes cashless economy is far way milestone. One of the most strongest resistances is illiteracy. Digital payment system indeed need education or literacy. Rural population of India it still unaware of digital technology. There is not digital technologies like computer, internet, smartphone, etc. Internet is essential for the digital payments. So rural area is still in need of major improvement in knowledge and infrastructure.

In urban area and cities all the infrastructure is provided but there is also lack of knowledge. Today in this digital era most of people are unaware of digital frauds and their techniques. With fishing sites and various virus systems digital payments is hack able. People of India must get the knowledge of this kind of fraud to go through cashless economy. We need more secure server and payment gateways to reduce fraud and ease transaction system.

To go India cashless we need to improve facilities in rural area and propose awareness program in India. We need more secure services and ease in transaction. With all such improvement India will became ready for cashless economy and milestone will achieve.

Good Evening all of you.

I personally feel that the next big revolution coming in our country is Digitalisation and its benefits. Keeping your hard earned money safe is one of the most challenging thing in today's world. There are so many loopholes through which our moeny isn't secure and to make it secure digitalsation needs to take place. Keeping transactions digital is not only our need but it is the backbone of our government to make the economy stronger day by day. Earlier governments used to launch so many schemes for people below poverty line, for senior citizens and for other backward classes but the whole amount kept for these communities never used to reach them completely and there corruption came into picture. With the current government we have realised that a very big amount of our Indian economy was going in vain and because of which there was one parallel economy came into picture which was run by fraudulants and corrupted bureaucrats. To elimniate this Demonitisation took place and we all saw how much corruption rooted out. At the same time present government also introduced Aadhar identifcation which helped poor people to create their bank accounts for 0 balance. This just didn't help in making the banking system stronger but it is also helping our government to keep track of all the money being used for specific purposes. Now all the money released by government is directly transfered to the accounts of needy people and help it keeps the whole process away from corruption. This one change has benifitted a lot to poor people. Also with demonitisation we have understood that doing digital transactions is very easy and secure rather than carry physical money. Event like demonitisan has resulted in cashless villages and cashless townships across India which is a positive sign towards change. Also not leaving behind technology and smartphone, our current generation and previous generations are learning faster to secure their money. With time we definitely need to make our whole system secure and I believe that is where IT companies "the backbone of Indian economy" are working day and night to build the digital transations safe and secure. I would like to that say the change is taking place in every corner of the country but it will take some more time for a nation like India where lots of parameters like Poverty, Illliteracy and Old traditions are rooted deep well within our veins. We are the world's fastest developing economy and we have always welcomed Revolutions. This shift will bring lots of change in the life of an ordinary man having his hard earned money safe and secure.

Digital payments is making the payments through technology. It offers the ease of doing payments anywhere you want and the way you want. Different options are also available debit cards, credit cards, net banking and even applications like paytm further make the things more better. Just at the click you can buy, sell& invest where you want. But talking about is it secure enough in Indian economy. More facilities are to be made available to remote areas. Even now some people prefer carrying cash as compared to doing it digitally.

The very first reason is ignorance. They felt vulnerable to the use of the technology. Afraid of getting indulged in fraudulent activities they prefer physically carrying out the payments. It would take some time for Indians to get acquainted with the digitalisation as not everything can be learnt overnight.

Good Eve guys.

As the topic is that digital payment secure enough to get our economy go cashless I wanted to say The digitalization is the innovative idea brought up in India. Accordingly It is secure too as the large amount of money we carry over and fright of loot is not there. And moreover there is security given at the time of transaction. And we can transact at any place and any time. No doubt the concept has became famous and is implied many places now a days like Auto ricksaws, Laari vala's etc. But still there are lot of people not using it. The most important factors are illiteracy and ignorance. People of old age or rural people or money lender etc they don't have literacy how to use it and so they don't know benifits and hence they ignore telling that this modern techniques doesnt suits us. The mindset of this people should be change. Literacy of cashless should be more wide then it is. Though government is doing its work still it seems that there is more bridge to cover.

Second problem is security levels. Yes we may use digital mode for payment. Still we are afraid of it and yet it is not that secure as it has to be. The hackers are always ahead. The system should be more secure.

Hence the digital payments are secure but the level of security should also be increased. And secure payments is not only the factor for getting economy go cashless but other factor like literacy of digital payment etc are also factors for economy to go cashless.

I agree that the digital payments are secure enough because they are our digital money and also minimise the risk to loss them.

And digital money is also very good for economy as all payments are in the view of our government and ultimately our economy is boostup.

Another thing is that if we have digital money than we can pay this money at any place of our world from our place but in case of cash it is not possible.

Right now, it's not the perfect time to go cashless. Digital payment is usually done using redirected website. But if a website is vulnerable, it can easily be hackable or it is insecure. Digital payments are secured but not up to mark.

I want to say that digital payment is useful for India in being cashless but it is not very secured. Many peoples don't know about this, they don't know how to use this because of that they got cheated sometime. Because of being cashless many of us do not carry cash with us and we suffer because of that. In some manners digital payment is useful. In my opinion this is not a very secured way. This is only safe for the person who knows better about this. To promote digital payment and make Indian economy cashless and make digital payment more secured government needs to do something by which each and everyone know better abut this process.