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

As life has 2 phases, a coin has 2 faces similarly cashless economy in India has also pros and cons. It would greatly affect the poor people like street vendors who don't even have bank accounts. India is a rural country as well as a poor country where everything is not digital. No doubt cashless system will surely eradicate corruption and will increase the revenue but it will also effect the uneducated people of India who are a responsible citizen. So, first of all, we have to take everyone together to a certain level where applying cashless system would not cause any havoc.

Thank you.

Hi, everyone.

Digital payments secure enough for the Indian economy to go cashless.

1. Fast transactions.
2. Printing notes problem can be avoided.
3. We can easily handle the money.
4. Emergency service.
5. Black money can be avoided.
6. No duplicate notes problem.
7. Realibility.
8. Highly secured through OTP confirmation.
9. Steals can be reduced.
10. Increases the literature rate.

To achieve cashless India government has to make a proper infrastructure,provide security and all should encourage the digital payments.

Government should make awareness programme on digital payments.

In my opinion, digital payment is more secure than cash payment because there are many problems occurred during cash payment like stand in a queue (line) steal the money by thief etc.

Digital payment increases the economy of India. To improve the digital payment first of all government should take some step to increase the cyber security and awareness the rural people about digital payment and provide education in a low cast so that people get educated and move towards digital payment. Demonetisation increase the digital payment. Digital payment growth the economy of India.

Thank you.

As India is a developing country, digitalisation helps in growing India to become a more powerful economic country. But there is lot of problems associated with it, in one of them is security. Nowadays lot accounts have been hacked. It should be provided more security, so that people can able to put thrust and go for it. And the second one is illiteracy, In many rural areas people don't how to read and write. How they can go for it? So they should be provided proper information and awareness of it. The third one is, we can carry more money with us, In this point of view, it helps a lot.

As India is a developing country, digitalisation helps in growing India to become a more powerful economic country. But there is lot of problems associated with it, in one of them is security. Nowadays lot accounts have been hacked. It should be provided more security, so that people can able to put thrust and go for it. And the second one is illiteracy, In many rural areas people don't how to read and write. How they can go for it? So they should be provided proper information and awareness of it. The third one is, we can carry more money with us, In this point of view, it helps a lot.

From my point of view, the process is very helpful to make digital India. We know that 55% people are living in rural area. But they also are now using a smartphone. Then steadily they will have the potential to cope up with digital payments. As we know 8 or 10 years ago from now the did not know what is the smartphone and how to use it. But today they are familiar with the smartphone. They have accepted the change. Like this, they will accept the process of digital payments too. But yes, a strong effort will be necessary for them to accept it and slowly n steadily they will accept it.

In my point of view, digital payment is better option then hand to hand pay. In digital payment, its quick to pay the money. For example: Everyone she that or some people are using paytm, phonepe and mobikwik. Etc. In these apps, you can pay the money any time it only required one time OTP on this number which you open the account it also be secure and you easy to credit and debt money. So many facilities. Technology in India. If you have a internet then you can payment money through digital apps other wise you can pay hand to hand pay the money. I my view this is the better option.

According to my point of view, this is very long journey to make India digital. India is agriculture country more people lives in village. They do not have knowledge about online tranjaction. That why I think it not possible to go cashless payment. They are not read English very well. But this scheme is use for clity who have work in company because they have no time to bank and do tranjaction so they do casless. It will also helpful for safe money. They provide us e. Locker.

But when this scheme will full fill if all shop keepers uses swap machine In a shop. They do digital payment.

Hi everyone,

In my opinion, everything has its own pros and cons. A cashless economy is a very effective initiative in a developing country like India. Digital payment systems are more accurate, time-saving and gives security for our transactions. It is easy to do transactions at any time from any parts of the world.

As we all say a coin has two sides, digital payments hold some problems like illiteracy among the citizens, due to this lack of literacy many of them may not be able to access to the present e-payments systems. Many of our citizens are not aware of our digital service.

Hii.

I am Abinash.

In my opinion, yes it is secure. Digital payments is the future of financial transactions, especially in a vastly populated country like India. It has many features such as encryption, biometrics, OTP, etc which has secured many financial records. The only demerit it has is that it is only limited to urban areas. Rural people have no idea what digitisation is, let alone digital payments. So digital payments can only secure the Indian economy if people from all sectors understand its benefits. Hence digital education is highly important, especially in rural areas.