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

Well, I appreciate all of your views.

According to my view, India is still developing country. We can't say online payment is 100% is good.

But online payment is good. We can pay our bill by online, which consuming less time. And it also saves the cost of printing currency and cost of installing ATMs and their management.

But, when the government wants to release a new application they have to conduct some awareness program to teach about that particular for rural area people.

Change is necessary for anything from day by day.

Thank you.

Change is important for growth and development of any country!

It saves time and is very easy. It can be done in fraction of seconds.

It is too effective and makes us tension free.

We don't have to stand in the atm queue for the money as well as no chance of theft and burglary.

Morever, people living in villages and small towns may victims as they are not much aware of the precautions that should be taken while online transactions. But our government are doing awareness programs for them.

According to me, digital payments are very much secure for the Indian economy to go cashless. Though people in rural areas must face problem in understanding this process government will implement easy methods so that these people can know the importance of digital payments. I think it is the easiest method. We can pay money in a very little time and also we can pay a huge amount of money without any risk. There is no risk of money being stolen. So I think it is the most secure method.

There are many pros and cons of this technology, In my point of view that the digital payment and cashless economy has many advantages like payment of tax, online shopping, fund transfer etc. In the case of Union Territory of Lakshadweep and other such remote areas are too weak in the field of Information Technology and Internet facilities (Still in 2G Data Speed). Therefore the best internet facilities are to facilitate in all the places of India, rather than the implementation of Digital payment system and cashless economy. Then only we can cope with all the aspects of the Digital payments and cashless economy.

Yeah, of course, digital payments system reduce our stress, by this scheme our transactions will become easier, within sec we do all the things, reduce time, fairness etc but at the same time debate will also going on another side about this. In cash payment we feared, cash to be secured and complete the process without any sufferings it's our responsibility to secure our cash. Many of us think it's better to use digital payments for these reasons but the real problem occurs in digital payment because nowadays people hack the details of the famous, well-known companies easily, so it's not a big deal to hack individual details our personal important id's such as Aadar etc That will affect us really bad, so we do only one thing i.e. we have to be aware and keep safe of our details.

All of you are right guys but I think in today's time it is not possible for India to become a cashless country. Because a big part of India is rural. I also belong to the village and I think there are more than 60% people are still who do not know what is Paytm. They think online payment ' a magic' and at this time it is not too easy to teach them about online payment. And another reason is that the most person's who know online payment or another digital work also feels fear to do.

But I think India will become completely digital in an upcoming generation if the government, as well as all of us, keeps trying to make India digital.

Advantage: We can sit at any place and with the help of internet we can make payment. Technological Developments are taking place so that servers are more secure so digital payments is a good option.

Disadvantage: Everything related to technology have its own limitation and also loopholes. Whatever single rupee we earn by doing the hardwork (Specially Farmers) so if digital money has been hacked who is responsible?

So, I don't think digital payments secure enough for for the Indian economy to go cashless until and unless we have solutions for hacking the digital money.

Yes, I support you all guys.

In my opinion digital payment is so easy, simple and secured method of payment.

1. It consume less time.

2. It is too effective.

3. It makes us tension free.

4. Lt also attract us to be a digital person.

For villages our current government organise classes to make understand digital paymentand also launched many simpler apps that can be used by anyone using simple keypad mobile.

Therefore I think that in coming days INDIA totally change to digital payment transaction.

Jai Hind.

Well, I agree to all of your points guys. But I don't think that India is ready to adopt this digital world because the maximum part of our country comprises village. And the people there are not aware of such things properly. However, with the demonstration, many of the people here and there csme to know about paytm, mobikwik etc. But they requirement before the transaction is beyond reach of many people still now. I think that some cash and some cashless is a good way to promote the fact of being digital. And further in future, I am sure that almost all of the people will be ready to welcome the digital India, maybe in few years. The technically advanced students now a days will contribute in maintaining the safety of the transactions.

The recent demonetization scheme introduced by Shri Narendra Modi signals a need for "Cashless economy". But are the digital payments and transactions secure enough to fully confide in them? In my humble opinion, no.

First of all -when ATM, credit card frauds are already so rampant, how can we trust these recent apps and gateways for transactions involving large amounts?

Moreover, every such transaction gateway would require passwords and submission of valuable information, like Aadhar card details. Again a new risk!

Also, the people living in villages, who may not be much familiar with the caution required in such cases, may fall victims to such risks.

Carrying a large amount of money, though dangerous, alteast one has a control to hide it in the safest place possible. But in digital payments, unless the fraudulent cases fully cease, it is difficult to rely on them and share our unique information with them.