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

Hello.

Here digital payments thought is very good.

But once think about people who are live in villages and they not even know what is digital transactions in that case there will be a huge problem for them.

First mainly the government as to trainee the every individual about digital payments and then they can start the method.

And also there is a problem with internet connections.

Hello friends.

In my opinion, digital payments are not secure enough for the Indian economy to go cashless.

I will explain how to point wise.

* Digital platform has the highest risk. Hackers hack into your server through the network and can steal your bank related data.

* Many frauds are being done to the people through the network.

* Digital payments are not as secured as cash payments.

Hello, everyone.

As we all know we are in amidst of corruption, terrorism and so many of such insecurities.

If we look deep. We will get to know all these insecurities generates and are caused by the power of black and fraud money. If we ban all such fraud money we can organise our country in a better way, the way which is free of corruption, terrorism, and day to day robbery cases.

Yes, I know that our 60-70%. The Population is in the rural area they don't know how to use these gadgets but I also know there is an urge in everyone to see an easy going, developed India and for that urge we are exceptionally able to do the impossible too. Hence we can go cashless if we really want to.

In my point of view. Only digital payments are not secure enough for Indian economy to go cashless. Because where 50% citizens are uneducated, approximately 50% citizens has no idea about internet. Forgot about citizens. Even if in a payment once money deducts from our account & same money doesn't deposited in seller account. It shows transaction failed. It's take at least 40 days to return same money to our account. Then how can we tell digital payment is secure enough. 1st India's banking system has to be developed.

According to my point of view, it is always good to do cashless transaction as it took much less time. But India is a developing country and still there is not enough parameters through which we merely depend on cashless transaction. We also fear that what if our money lost or something like that. Yes IT Sector is growing up at a very fast rate and our country is developing many such brains who can build up a much-secured system so that more and more people start doing cashless transaction. But said every coin has two sides so there will be some dots who can make us think twice before going to cashless. Hope India will do as much as cashless transaction and make India a developed country.

Since the demonetization of high valued currency, cashless economy is being discussed which I believe is a good step in taking our economy forward but at the same time, we need to be careful about the security in using cashless mode of transaction. Some month ago, it was reported that the data of customers of some banks were compromised and that was a very serious case of data breach. Although concerned ministry had further taken some steps to curb such data compromise, but the question about the security of the cashless transaction is obviously raised. Several cases are reported very often about online transaction fraud that needs to be addressed in a very serious manner. At last, I conclude that in-spite of being vulnerable to theft, online transactions should be promoted due to its several benefits.

For any system to be secure and successful there is a need for basically two things. First to have knowledge of it and second the process involved in making the system should be advanced and dignified enough. The process can be anything like in case of digital payment, the process is the "payment through online" And having the knowledge means being familiar with the ways of using the system. And in present scenario we are completely struggling in achieving the target. We are 70% population living in the village among that 40 percent don't have smartphones and the people in rural areas are still illiterate, they don't have the basic education, and if the are lacking behind the basic education then how could the know something about the technology and digital payment. Also, we have a week infrastructure. Using the digital options for payment through the payment app if goes unsuccessful then we have to wait for minimum 3 hours to 7 days to get our money back.

Digital payment is essential to boost the GDP but to achieve 100% cashless is not possible with this condition.

Dear friends in my opinion. Yes there are a lot of advantages associated with e-payments if the system is robust enough. But before taking it in use. It is necessary for our government to aware people especially in rural India about how to exactly use this feature. What should they take care of? But the problem is majority of old people and uneducated people in our rural India still don't even know how to use Internet. How to get an Internet connection. Many of them even don't have good Internet facility. So government has to do a lot to make it successful. Like.

(1) The government should arrange campaigns to help people know about how to use Internet. How to make E-transactions safely.

(2) Yes, of course, the government should make provisions for good Internet connectivity throughout our country as it is well-known problem and because of this problem sometimes money is deduced from our accounts but transaction is not successful.

According to me, it is not secure because for digital payment we need internet network. But one can not provide 24 hour of network. Because so many physical reason that can affect the network like storm, earthquake etc. Which leads to the sudden put off the network. So it is necessary to have cash in pocket to secure the payment in these condition.

In my point of view, yes the digtal payment secure Indian economy because if we prefer online payment like paytm, credit and debit card so we can save our time we can also reduce corruption and black money also. And we already know that the plan BHIM which is organized by the PM Narendra Modi which is online payment application so we should prefer online payment so there are a lot progit but some disadvantage are also like about rural area's people they don't know properly how to use ATM or Paytm and we know techonlogy has been increasing day by day so in the case account may be hacked by hacker in rural area and one more thing is that villagers are not well educated so it is not profit for that type of people so government should provide awarness camp for distributing the knowledge of such type of new technology after that digital payment can be effictive for future.