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

It's not secure until everyone has the proper knowledge about it, it will take time but it is a good initiative I think.

In few countries the transaction is only done by the cashless mode but the literature count of that country is high too. In India, majority of people even think 10 times before using the ATM card because of the less awareness. So before thinking about the digital payment, the people should be trained and aware of all online payments so they will feel confident to use.

I think digital payment is better option rather than use cash on hand as in India people are very clever In some SBI banks people noticed the pin number and then it leads to problem when something awkward happening in their account so if we use digital payment we are free from cyber eyes or robbers as digital payment method will also increase our country's economy even labour work will be reduced if everyone become knowledgeable of digital payment method then people can do additional work with do payments online, and transection will be few seconds people also doesn't get worried about whether the money goes or not as this problem occurs in offline payment.

Hello friends,

This is the very interesting topic today because of current government banned currency at any time so is it not safe to take hard cash and use. I think digital payment is good that reduces most of the time we are spending on banking disposition and credit some money.

By using digital payment we can easy to transfer money at 1 min all over global. For it's safety we can follow the bank's rules and policies like don't share your pin number, ATM card number to avoid cyber crimes and more thing guys it's helpful to reduce global warming by using digital payment no paperwork and we can save our nature.

Hello,

Repeating the topic :" Are digital payments secure enough for the Indian economy to go cashless?".

Yes, Absolutely digital payments are secure enough to do an online money transaction.

One need to be very sure before any online transaction or payment. Always double check the information about receiver and website.

Fraud can happen by : - Doing an online transaction on the unsecure webpage.

- Emails that redirecting to fraud website.

A simple check is the Padlock symbol before https:// and web address should start with https:// "s" stand for secure.

Indian government are having a tough cyber team that will protect the online transaction.

Yes, digital payments are secure and benificial for Indian economy. Now a days every person is busy in it's work so if they will stand outside ATM's for hours then this will be loss of time for them so everyone do not want to waste their time to collect money from ATM's and then use that money. By using digital payments method anyone can recharge as well as make shopping from their home by transferring money from account to account via mobile phones. So overall digital payment is time saving, secure and easier to use.

Yes, it is secured. India has now become computer savvy where all generations are equally interested in working on computers. Even banks are now introducing most of the services online. This can only be possible when our country has sufficient know how's to tackle cyber threat. In a recent case of the ransomware attack in India, the country was least affected. Introducing digital payments will not only be beneficial for humans as it will reduce the hassle paperwork in banks but will also help the people to grow technically.

Nowadays, instead of carrying cash most people prefer to carry credit or debit cards and the latest addition to it is the Paytm. Even a tea vendor has a Paytm account and promotes the cashless economy. If there was a serious threat in working online then every day there would be some news about phishing. The KYC norms, OTP on registered mobile number are all evidence that government along with the banks is trying in a best way to keep the digital transactions secure.

Yes, it is secure because it prevents corruption and it also develop the people of India. It begins new era and development of India.

Recent ransomware attack show that our banking system is not fully secure. Going digital is right way to go but at the same time strong effective measures must be put into place concerning the security of banking system. As these attack create a deep divide into mind of people about hte security of their hard earned money hindering them from adopting the technology.

Digital payment is a useful and handy tool in this fast generation, where people don't have much time to stand in the queue. It does save time and energy, getting online tickets bookings, online shopping and much more. But there are security issues related to it as well if not used sincerely. There are few technical defects as well which come in this type of transaction.

The security is limited to OTP and card numbers. The transaction details are sent to the registered mobile number and bank statements. If a person knows other persons debit card number then it becomes a bit easy for that person make online payments. No authentication or cross check is there as who is using that card number which might belong to someone else. The mobile phones also play a crucial role, if a person comes to know other person's mobile unlock password, then also it becomes quite easy. Mobile unlock password is something that is generally known to many of the close individuals. Technical issues are also there, some time payment is held, money is debited but tickets not booked.

At last, I whould conclude saying that digital payment are handy and time-saving, but it must be used sincerely and smartly. Some more security should be present so that it can have wider applications.