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

I don't think so that digital payments are secure enough to go fully cashless. It is good for small transaction but for large amount of transaction it's not secure enough to go cashless. As day to day we all are getting news of money is getting stolen by some hacker. Also the people in rural areas are so illtrate that the not even know how to manage your bank account or how to withdrawal money. It'll take time to aware the people about going cashless in India.

It is definitely true that the world is now moving towards being cashless and being one of highest growing developing economies of the world, India has to follow it. Now there are plethora of advantages in going cashless such as.

-Time saving.

-Significant drop in corruption.

-Can be accessed through mobile, no need to go to banks to name a few.

Having mentioned the advantages my only concern is that how secure are the digital payments options that we have. We can transact cashless through apps like Paytm, freecharge and even apps of some banks but the question is how secure are these transactions because with these apps we are virtually carrying our bank accounts in our mobile.

We are already controlled by private cooperates and politicians. Digital payment is useful but it is dangerous too. For example if we raise our voice for social issue either against any politicians or private cooperates, then they will target us and hack or block our account. They may portrait false issue against us. And it is easy to hack. If this happens, we are totally controlled by politicians & private cooperates.

In my point of view, digital payment is secure for the Indian economy in many ways it save time also from 50 rupees till large amount can be transferred easily and safely people don't have to stand in a long queue waiting for their turn whole day. Any time of the day we can make transaction its really helpful during emergency situation when urgent money is required its like carrying bank in pocket also we don't have to go through any kind of paperwork not only that its take only a few minutes to get transaction done

Hello, friends.

India is a developing country in which online payments or digital payments takes a major role for improving people's thinking and by which digital payments increase becomes common and gives awareness among people and India will also be developed country and by which technology also increases.

Thank you for reading.

I think digital payment system is very helpful for developing India to move to one step closer to being developed. In urban India, it is not a big problem for folks to understand these payment systems and devices.

As the majority of them are literate and if someone doesn't know, he can find aware person easily.

The main problem comes in rural India, where people have a little knowledge if they somehow mug up the process and if there any upgrade in the process comes they stuck there again.

All in all, it is a most efficient way of payment till now and there is need of more secure devices and application to avoid any type of cyber frauds.

Good morning to one and all, according to my point of view, digital payments are very well because of the transactions are to be in very fast and most efficiently. It will also reduce the black money which is very helpful for our economy. Most probably our future going to be digitization and all are must be familiar with this scope. From cashless transaction we need not carry the cash so that there is no need of wary for the loss of money due to the theft. From overall point of view there is a more number of befits are there for the digital payments. Thank you.

Yes, it is secure nor unsecure because if people have knowledge about the digital payment they how to payment by app online transaction so they can securly pa the money to any one. If any people that hi don't know about the digital payment for those people this is not secure. And my opinion this going good this enough for the Indian economy to cashless because mostly people know about the digitle payment and they use the digital payment.

Hello friends.

Digital payment is always a way to form a new India and Indian economy. This is the best way to do a transaction without any card or passbook. So, you don't have to carry passbook or other documents with you. Just one click you transfer money to one account to other accounts.

But, In my opinion, India is not very much prepared for that. All people have not enough knowledge about how this work. First of all, we have to do is educate all people about digital payment and it's benefits. And other is that make a security strong so cases like hacking or data stolen is not done in future.

All of that, Digital payment is beneficial for our economy and reduce black money.

Now time for digital India and see the growth of India.

Thank you.

Hello one and all, this is Soumya.

In my opinion, the digital payments are the most secure and faster payments system. Digital payments not only reduces the need to carry cash every Tym we go out but also give us the option to do our online banking staying at home, no need to go to the bank for every transaction. We can check our balance and moreover also our passbook if the need arises. Nevertheless, there is a threat due to the hackers but that can be taken care of by stringent laws and security policies of banks and digital India campaigns should start from the root level that is from our villages. They should be first taught how to use a smartphone. Then the merits and demerits of using a phone n how to use it effectively then they should be taught thoroughly how to use their online bank services. How much it is to use along with that the things about the secrecy of OTP. These campaigns should be sponsored both by the government, socially and digitally aware people and banks themselves so that digital India campaigns become a success. Thank you. Suggest if I said any wrong.