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

Digital payment methods are now one of the most growing fin-tech methods, but that is not the immaculate system, especially in India, the ere are some loop and holes in this system. We have seen million of S.B.I accounts were hacked by hackers at the time of demonetization it shows the vulnerability of our data on internet. Our cyber laws and cyber cell are still not that enough to control these kind of activity which may cause our countrymen a huge economic loss.

Hello, everyone.

I think if you are not ready to be wrong then you cannot achieve what is right. Demonetisation is a very good initiative taken by our government But it was implemented with half preparation. And so digital payments are not secure enough because of increase in a number of fraudulent and lack of some policies. We can definitely make it secure by educating or making people aware of digital payments and how to do it in a correct way.

As we enter the cyber world nothing is safe enough. But proper precautions can let us stay safe from hackers.

My point of view is it is secure to an extent but we can make it much better by some preventive measures.

Hi everyone.

I am Sarath Sasidharan.

Digital payments are secure indeed. But I won't agree that it is secure to go cashless. There are many areas in our country where we could find a smart phone very often also many of our country's business institutions haven't been digitalised Yet, mainly in rural areas.

Friends as our country is a developing one so every new step here which is introduced takes some time to become a daily habit. As the case may be of ATM, the people were not aware of it, but now it's a common thing for everyone. The Same thing is with digital payments, the thing is introduced and being used the day is not far away when it will be a common thing. As far as security is concerned the transactions are mostly highly secured so no need to worry. These type of steps should be introduced in public with more information so people have more faith on it helping the growth of Nation. The digital transactions will ensure money is accountable and available in the market for people and overall help in nation building.

Advantage :.

According to me, it is very necessary for any country economic.

Through digital payment, we can save our time and also we can carry a big amount of cash without fare of robbery.

Digitalization provides 24/7 availability and it will make our life easy.

It will also help to make our country corruption free.

Coming to security part, govt also trying to control hacker by tracking transaction path and also implementing more technology like taking the thumb impression and sending OTP to register a phone number. Like we can make our transactions more secure.

Hello everyone.

I think this decision of government is nice as it is now safer and easy to make payments due to online transactions, it increases transparency, as we can now track transactions and it is fast as well but this might not work fully in our country now due to lack of effective technology, resources, awareness and illiterate people in the rural areas. So for the proper implementation of the cashless economy, the government have to work in these areas.

Thank you.

According to me to become cashless is very good idea but it can't be applicable whole over the India because we all know that there are many people who are still not educate as well as there are huge part of the population who didn't knowledge about who to use the ATMs or do the online transaction.

The conclusion is that if the government want this they must ensure that each & every person of our country well known about those advantages which is more over the disadvantages.

Well I read most of views and each comment one sentence Is mention that in our country many of people is illiterate. But you have to think there are many people who literate. Every coin there is two side so in my opinion this is a good way to make India digital. Not 100%will be succeed but if we reach atleast 70% in 2 year then it make a big change. Nd one more thing I think it is secure if we alert then you never get hacked. So be smart and make the world smart.

Hi, digital payment means its a kind of automated technology it has many pros & cons. Digital payment is a not a new technology but the awareness is rolling out now being a new we have afraidness. So the technology involved is not a major problem only we humans are misusing others banking accounts, credit/debit cards.

Before achieving cashless system the concerned banking sectors and governments should give awareness & ensure the secure digital transactions. We are not ready to go cashless system right now.

In my point of view through digital payment we are entering into the new age of technology, and I think only digital payment is way through which we can have a control over corruption & black money and as far as the time is you will never find right time to introduce something new, literate or illeterate every body can learn this if they try it once, however, government should conduct workshop regarding this in remote areas specially, also make them aware of it's advantages & precautions that should be taken by the users.