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

Well, digital payments are really working in India since past 1 year. It has own merits and demerits that are as follows.

1. Most important is that India is moving to the cashless scheme.
2. Its saving our time rather going to ATM and make payments to others.
3. It also secures our details and information and password too.
4. Increases India economy.
5. People are easily transferring their money through there phones and gadgets.

DEMERITS:

1. Lack of awareness among the peoples.
2. Lack of knowledge that how to send money.
3. Data can be a hack if we not use secure payments and share their information.

Hi everyone, as we all know that India is a developing nation & very soon we will. First of all, I would like to say that its a great move for India because through this most of the transaction will be transparent, which will help to reduce the corruption, black money and scam. Through digital payments, government will receive more tax which government Can use in the growth of the nation. Es, I agree that there is a very big difference in educated and illiterate people but gradually this gap will be 0%. Indian has a great technology and according to my opinion we ready to do the digital transaction.

Hi, the digital payment is good for the country and it progresses the country but all have the people are not aware of the digital payment so it's responsibility to all young students to teach everyone how to use the online payments. All the thing have two things one Postive and negative so if you are using the digital payment so it's drawback also but it's good points it's you have your money deposit safely in the banks so it when digital payment does not have so it very risky to all the people to Thief. I think the digital payment it's good for the country and its help to progress the country. Thanks.

Hello everyone.

Digital payment means making payments in digital mode.

It is very necessary for the country's economic growth. Cash payment is time-consuming & insecure.

Whereas digital payment eliminates the risk.

If we consider today's situation digital payments are vulnerable to attack.

Through digital payment we can transfer money anywhere, anytime & it is very secure.

Everything will have its own advantages as well as disadvantages so even digital payment has disadvantages.

Digital payment is difficult for illiterates because they often don't know how to make use of digital payments.

Yes! its a very secure method in my opinion. If we want to achieve cashless economy, first the government should make awareness in people especially in rural areas. Now -a- days we are getting some wrong calls asking people to tell their login credentials. If we are totally aware of our own safety. Then, it is surely a very secured and makes easy for us do transactions. Still we are just in initial stage. Its takes some time to completely transform into cashless economy. For the government to implement totally we will have teething troubles but it is very sure that it is a safest measure for our future.

Good morning everyone.

Yes, digital payments are very secure but the process what we are using for payments are not correct. For example, the government should provide one card to everyone that is money card which should also have the GPS system so that if we lose that card also we can track that card very easily. The card should have highly confidential security and we should have a rule that every transaction should be done by this card that may be like hospital bills, house Purchasing's etc. If we follow this process we are going to have a non-corruption India and also we can have our secured cards.

Hi, friends.

Going cashless and starting transactions through digital is a good choice but till now I don't think so its a better option because in Indian there is 74% people are literate and 36% of populations are still facing curse of illiteracy. So, first government Should aware them about that kind of scheme because not literate but illiterate person will reluctant for this even if they'll start to use this. It's may creat havoc in society because of hackers and many criminal mind. So not only to aware people but also make a strong security system as people can do it without kind of fare and doubt.

According to me, being the cashless country is good step to remove the corruption from our society and helping. Our country toward the developed country. But there is the most important act is made India educated to use the digital payments system as hacking and stolen money from their account are increasing day by day. Indian govt Should provide the facility to make everyone aware of how to access this system. But it's not the responsibility of only our govnt its our too. In every family, 1person are educated they can be thought their family member how to use this system. It is our responsibility too.

Yes, they are good enough to promote cashless economy in India & that's why many customers, shopkeepers (both small & large scale) are using them in both big and small cities. But, there is always a room for improvement & hence the digital payment system in India should be strengthened more so as to attract more people towards it.

This can be done by promoting the same in big cities, then small cities and towns by advertisements, street plays, social sites which will tell people the merits and usage of digital payments. Youth & children can encourage their elders towards this new step.

Hello everyone,

From my point of view, the digital payment system in our country is secure. The transactions which are made are full encrypted. The details of the transaction is fully encrypted where there is less chance for the details to be hacked. The OTP which is sent to our mobile phones is valid only for a couple of minutes. Therefore it is safe to pay bills through online payments. However, if the payee is not aware of online transaction it might lead to many problems. Even if the transaction is not complete and the amount got debited from the account it will be credited within 3 working days.