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

Hello All,

Personally, I feel India is not yet ready to go cashless at this stage, although that would be an ideal target/goal 20 years down the line. I say this because 70% of Indian population out of 1.36 billion lives in the rural areas where there are no / less internet connectivity and awareness on the use of Internet and related facilities. There needs to be effective Government plans and initiatives to enlighten people with the use of digital payments.

Also, using the payment giants like Paytm, Billdesk etc. Calls for the use of smartphones with good internet connectivity - something that is far fetched for the rural people.

Yes, nowadays India is becoming a global power and to race with the other developing countries we must adopt the digital payments, it is true that many of the poor people of India will face a problem with it at the starting but if the govt will provide the perfect platform after some time they will well known about the process. I belong to a rural village and I have seen the change where people are not much educated but everyone is using a smartphone and use ATM they don't know much about the technology but they know the method to operate it. So I must think India will soon take initiative to launch digital payments on a large scale.

As of now, we all know the digital payment is raised especially during this Pandemic and lockdown, but it took a time to go cashless totally because in India still a lot of portion of people belongs to rural areas though they are aware of the digital payment system the network issue and security issues are also there which are the major hurdles in a cashless economy. We need to improve the network connectivity first in rural areas and create awareness of this digital payment system and how can we easily use this system because it is safe as compared to carry the cash in hand and how we can access this at any time and anywhere (24/7).

According to my opinion, Digital payments are secure but we need to more conscious on making payments when demonetisation announced there is a high flow of people to the bank to deposit their old money, and the hackers are silent killers be aware of them.

Necessary steps against the hacking websites and by creating the awareness campaigns and promoting the user-friendly apps among the illiterates.

Even now also rural area no ATM centres working properly.

So take initiative in be India one.

This will helps to reduce the corruption.

-reduce balance giving problem in a retail market.

-India's GDP makes a change in this situation.

I also agree that e-payment is the solution of today economy. Carrying a bundle of notes has always been hactic, as it concerns much higher security towards being stolen or robbed. This new era of cash less payment initiated by PM Modi is a great way to send and receive money almost anywhere in INDIA. It has reduced insecurity amongst the people, as well as speed end the transaction process, as of now with few clicks you can send and receive amounts for which we had to wait in question outside the banks.

As this is a new method, it is sure to consume time, as it will have to teach to people not use to this way of using technology.

Hi friends.

As we all know it's the biggest & initiatives step taken by our prime minister modi. It's the 1st step for make in India or digital India. As I also supports this payment process. But there are some problems for the people who don't know about how to transact or purchase by pos machine & how to operate the Atm also. In India so my people are don't know to operate the computer. Basically digital payments are occur in online. It's the hassle for people who don't know. So government should take initiative for this cash transaction process. If the government do this then the corruption become lower in our country.

Hi guys.

In my view, Indian economy is not secure enough for stepping towards a wholly digitalised one because more than 70percent of our ATM's now functioning is based on the older software version and not have been updated till now. Secondly, I would like to point out the fact that post demonetisation measures of introducing cashless system all around is good but it shows a lack of an advanced preparation when we suddenly jump towards a cashless economy. Our citizens, first of all, must be educated about the needs and all facts concerning the privacy of the digital economy then only we step forward to a secure cashless economy.

In my point of view,

Digital payment is very secure and easy way of transaction but in India 100% cashless transaction is highly impossible why because in India so many people don't know the digital service, some people know only how to do the online transaction, but in case of any problem (minor problem) is there they don't know how to solve that problem. Only who knows the technology they will do digital payments easily. This issue mainly happens in the rural area.

Now come to the metro cities and towns,

These people don't bother about the pickpockets. But they bother about the HACKERS. This is the main problem in this areas.

Good morning everyone. I want to give my point of view on "Are digital payments secure enough for the Indian Economy to go cashless". Digital payment is that payment which is transfer through Digital signals, which can be easily modified and can be interrupted, but Countries government are trying to solve this issue by increasing security through cryptography and making Authentication better than past. So, from my point of view, India is not fully ready so other countries but not using digital payment is not the answer to this question. We should focus on making it more secure rather than not using as it is need of today's world.

Hello Everyone,

Talking about the security of digital payments, India is yet not well equipped to make this move secure and risk free. Govt should educate people on how to use digital payments, strict rules should be made for penalties and severe actions to be taken on fraudulent payments, RBI should set standards with e-wallet companies to avoid them to take undue advantage, Heavy investment should be done to make the digital infrastructure secure. Make digital India should move on but giving enough time to existing structure to change gradually. It should not be on the cost of security of citizens using online payment systems.