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

Digital payments show that development of our country but this system activated a few decades ago in other countries like US, UK Etc.

This system leads to a reduction of employment in the banking sector. Only cities are getting benefit from this cashless money but village people are aware of this system because of lack of atm, mobiles, swiping m/C in stores.

According to me, digital payment shows our technology development. It greatly reduces the risk of keeping the paper money in our hand, fearing of robbers. At the same time, in the digital transaction, there is a chance for hackers to hack.

Digital payments are good for Indian economy. Going cashless with a hand of liquid cash is a problem but the digital currency is safe and secure. But in rural areas the people don't know how to operate the digital payments, the government has to take the initiative to create the awareness in the public. They have to explain the advantage of digital payments to the public include how it works. The digital payments some of the events like hacking have happened even ATMs are closed recently, there is some of the satiety issues are proven due to those situations.

Digital payment is one of the best innovative idea by the Indian government. It helps a lot for the people to save time. And a limit is applicable for every method in digital payments. So people will use a limited money a day. This is beneficial to the middle-class families. It reduces the pickpocketing. If people in India are educated about digital payments. It is one of the successful methods. The only drawback is hacking.

Hi myself Roshan.

When drastic changes occur whether related to social tradition or technology some problems are created, we don't go for that one leaving behind the consequences look for its use, in transition period some difficulty will take place but you have to conquer on the situation.

Digital payment has a lot of advantages like better control on corruption, more transparent transaction, the money of government scheme will directly deliver to deservable and needy people.

Some advancement and awareness are necessary among people about e- transaction and digital payment system for a succession of the plan.

Now, India is one of the largest economies of the world. To handel such a large economy it is very important to go cashless. Now government of India has taken a very good step making India digitalised. Initially people will face some problems but it's not permanent. Specially for rural people, if proper training is provided all will be able to operate new gagets and applications. A transparent economic system can be built using this technique. It's very time efficient. Much work can be done with a little time. It's free of traveling to bank branches, standing in long queues, counting the cash bundles and specially from robbery.

But problem arises with the security. Govt of India should ensure the website security used for transactions so that hacking can be lessened. If the security issue is solved it will be one of the best way for money transactions.

Hello, I think going cashless is better option. But at same time common people must have awareness and knowledge about same through media. It will definitely increase our standard.

Furthermore it is more secure than paper money.

Though going cashless has many advantages, the security is the only concern that impacts a lot. As younger generations have got no solution to cybercrime, people at the age of 30 or 40 will not have trust on payment gateways. Going cashless is a great step for the development of the country but more importance should be given to secure payment methods.

According to me, digital payments are still not secure enough for the Indian economy to go cashless as there is no disaster management until this date. Recently, there was a case where the third party hacked into Bank's account- 32lakhs bank cards got hacked. If there occurs any disaster, whole data will get wiped off and no one will take full responsibility for such an event. Also, Since 1/2of the India's population is illiterate so it's very difficult to eradicate such a traditional practice of exchanging goods and money.

Hi, digital payment means its a kind of automated technology it has many pros & cons. Digital payment is a not a new technology but the awareness is rolling out now being a new we have afraidness. So the technology involved is not a major problem only we humans are misusing others banking accounts, credit/debit cards.

Before achieving cashless system the concerned banking sectors and governments should give awareness & ensure the secure digital transactions. We are not ready to go cashless system right now.