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

Friends, I have a mixed review in this subject. I think digital payment is a prominent step towards moving into a cashless economy.

In fact, it is an important step in becoming a developed nation from being a developing nation forever. It improves the financial status of our economy as most transactions come under the purview of law. It offers the 24x7 facility. But it's necessary that the financial inclusion is to be achieved before such a system is made compulsory. Also, proper cyber crime laws and technical supremacy should be ensured. Else the entire nation will face the threat of user privacy and It's a matter of national security.

See, any system has some of the short comings but considering only the shortcoming of the system can never results into a positive result.

We should think about the various benefits of digital payment such as hassle free transaction, we can avail service any time & anywhere, transparent service.

Due to its dependence on the internet there is a chance of hacking but even our government has a positive approach towards making the system more and more transparent so we can rely on the system.

It is the responsibility of the government and the educated citizen of India to make the people aware who have no knowledge about the internet.

Yes, digital payment secure enough for Indian Economy. But its very much challenging too. As India is not fully literate country most of the population are afraid of loosing there money because they are not aware of the end to end process. They are not aware of the pros and cons of digital payments. How economy will be benefited by being cashless? how transactions will become smooth? how to access those apps etc. Etc. Due to digital payments queues will be reduced in every commercial stores like medicine, ticket counter, bus counter etc. Digital payments can track spam payment requests, international & national transactions as well.

India is developing the country. In my view, it is a bold step taken by the government. In present architecture we can't say that digital payment secure enough. Because many haker can hake account and can do cyber robbery. People who are don't awear about online tranjection they can face problem. But by educating these people we can make it good decision. And if all rural aeras people would know that how to use digital payment. Then it really effectable.

By digital payment we can save our time and also can save trees beacuse in banking work many tonns of paper used. Paper made by tree so by digital payment we can save our environment.

According to me, I can say it's not enough for the Indian citizen because here it will be very city to city as example Delhi, Chennai, Bangalore, Mumbai ect metro cities can manage to a digital payment that can be cashless economy for the city because as we Indian our backbone is agriculture. So our farmers lived in rural areas till the time our farmer not able to get water on time and some time network issue and almost our farmers are not fully educated so it may difficult for them to do transactions its. And for digital payment need android mobile our rural areas people not affordable for everyone. There is lots of problems in India.

From my point of view, digital payments are secure enough for the Indian economy to go cashless but if we compare the educated and the uneducated people in our India. Uneducated and rural areas are more so if we go cashless the most of the rural people will suffer and also there is no digital payment related things in rural areas. As we all know that after Demonetisation all the politicians and rich people are safe but only the rural people faced so many problems due to demonetization I would like to conclude that before going to be cashless government should take some steps to educate the people about the digital payments. Thank you.

Hello guys,

According to me, digital payments are good. We have lots of benefits from digitalisation. By doing online payments we can save time, we need not to be stand in line for hours like this there are so many benefits. But as per our topic is mainly concern with the security. Are they secure? Obviously not, they are not secure nowadays. All the people who make digital payments are not aware about the cyber crimes. Very few peoples knows about the cyber crimes, cyber security and all. So our government firsy need to be focus on awareness about cyber crimes. Cyber security should be increased then we can go with digital payments.

Hi everyone, I think our PM has taken the good step towards digitalization of India. The complete change will not going to happen immediately it will take some time. But it is a good start. However there are so many people from the rural region who are still illiterate and are not be aware of the use of internet facility and consequently about the use of ATM. If government wants to force this programme in India firstly they should arrange the awareness programme. They should make sure that whether everyone is able to do cashless payments or not. To be concerned about the security I think it is not that much secure it may be hackable.

All of you are right guys but I think in today's time it is not possible for India to become a cashless country. Because a big part of India is rural. I also belong to the village and I think there are more than 60% people are still who do not know what is Paytm. They think online payment ' a magic' and at this time it is not too easy to teach them about online payment. And another reason is that the most person's who know online payment or another digital work also feels fear to do.

But I think India will become completely digital in an upcoming generation if the government, as well as all of us, keeps trying to make India digital.

Indian economy becoming a cashless economy is truly a dream come true for we Indians. There is no dark cloud without a silver lining so I the case here. Transforming to a digital economy demands the need for greater cyber security measures. The common man should be made more aware of how to keep his personal information like pin code, password etc. Secure. Digital penetration into the rural areas by means of broadband connectivity & supply of the smartphones is the need of the hour. We should thus join hands to help India become cashless & thus fight evils like corruption, back money, counterfeit currencies & tax evasion.