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

Good day, According to me, Digital payments are risk enough. Money is a basic need for everyone. I accept paying and processing money through digital is easy but it involves too much risk. Many theft had occured in recent times through internet. We cannot able to stop it. Our credit card details are gathered by hacker and they misuse them and steal the money. We cannot able to trap the theif or we cannot able to obtain any detail of him. So Digital payments are easy, makes our life simple. But involves too much risk. Everyone run towards the money, many people work day by day for earn money. So makes our money secure and safely, digital payments can be avoided. Thankyou.

Hello guys,

I would say that probably it's the change that India is needing so far to make progress in every arena. As we all know that our country is previously recognised as the country of illiterate people's, but know the time has changed we are experiencing a rise in our GDP approx 7.2% in increasing manner whereas China's is lowering down. All credits go to the digitalisation happening at a very fast speed. An example of Digital payment can be taken from Delhi Govt's initiative of introducing a Single travel card which can be rechargeable so making less Ruskus in travelling and also saves time.

Hello my name is Kaushal. Modi government dream is "cashless society " so government trying to go forward digitally and to encourage digital payment they can also give some discount in BHIM app. I think it's great initiative in country like India because many Developed country are going Digitally. It's secure and less chance to theft, on cash there is chance to theft and also duplication of notes which can be minimize by using Debit card /Credit card.

We should also support PM initiative "Cashless Society ".

Yes, Digital economy is very useful for today's world because now time plays a very important role. In bank, we don't have to stand in queue to transfer the money etc. We can done our payment within fraction of second because of digitalisation and by some app like Paytm, BHIM etc. It reduces the risk of theft also. By taking this step our country moving toward as a developed country. It also helps to reduce black money. If the payment will done online then they have the record of every transaction. It will increase employment in several fields.

And no because, in rural areas they don't have idea how to do payment online so it is risky for them. Government have to focus on rural areas or they have to run a programme to make them aware of digital economy.

Yes, I too favour of digital payment. Digital payment has many advantages such as transaction time is less so there is no need of queue which saves people's precious time. One can able to pay bills through online. Using digital payment reduces theft. Also, it has disadvantages such as. Not all people able to use digital payment many peoples are not having knowledge on digital payment. By educating all people's about digital payment will increase Indian economy. At the same time, digital payment should give more security.

In my opinion, According to security concerns for digital transactions they are secure if the person has proper knowledge of using it and it also seems an effective way so that people from across anywhere can use the facility and this way they can transfer their money if anyone wants urgently.

For the problem of hacking issues, proper guidance and awareness should be provided mainly to rural areas and the cybersecurity system of India also been working for the prevention of hacking which will make India in coming days to go cashless.

We cannot say it secure enough but yes they are secure up to some extent because using of digital payments at each stage of daily life can cause security threats and also some of the areas of the country still don't have the facility of electricity yet, in this situations digital payments are impossible to implement there. But for metro cities and big town digital payments are secure enough for the use of people who actually can take care of not being a part of frauds.

I think digital payments are more secure than cash payments. As cash thefts are more frequent than digital payment thefts. Chances of the culprit being caught are more in case of digital thefts as we have some info such as IP address, mac address. But in case of cash thefts, we generally have no information regarding culprit. Also, digital payments can be made more secure with time which in case of cash payments is not possible. Black money can be completely eliminated if a country became 100% cashless.

Hello everyone!

In my opinion, digital payments are good enough to make the big plan of our gov. "Digital India" successful because we know that nowadays gov. Is focusing on making the India digital or cashless.

Nowadays a very popular buzz word "cryptocurrency" is spreading in the market, which is providing a very feasible solution to make our India smart, as there is no central authority is needed in this type of transaction, and that is the thing what we were expecting from the government from many years. So I think that it would become a drastic change which has been implemented by gov. Named digital payments and it will lead our India so far so India can stand at the top of the list 'smart countries'.

The only problem with this sort of system is that "security", because might there be chances that somebody can hack our online data, and yes it is a big problem, but our engineers are doing really very hard work to solve this problem, and if the second major concern is illiteracy then I can say if gov. Will implement this digital payment system on the big scale then everyone will come to know the importance and advantage of this technology, and they will adapt it.

Thank you.

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.