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

Yes, Digital transactions are needed, but before that, we should get our Indian payment gateways to be implemented. How many of us know VISA, Mastercard etc are the foreign gateways and we are losing a lot of money while transactions as service charges to this gateways, indirectly we are feeding them with our money. So, at this point, cashless India is a foolish idea now, until unless we totally depend on our gateways.

And the proof is, as from past 10 months in India, many cashless transactions happened due to demonetization. But still, our GDP went down and going down day by day.

In my opinion, totally cashless system for is India not a good idea. Because at this stage the peoples of India doesn't have the required tools and knowledge to go fully cashless it takes almost 3-5 years to prepare for that. I partially in favor of cashless system but to go an economy with cashless system we have to first educate peoples how to use the tools required to cashless and also another aspect that affects the cashless system is the security in the process of going cashless. So if we make all that thing that are required to go cashless then, we look forward to go cashless.

Yes, it is a bold step taken by our govt towards change and we all have to accept it. But before taking it forward we have to solve the problems if a common man regarding this change. A common will always have doubts like,

a) Whether my money is safe in this system.

b) Who will take responsibility in the case if my account would hack in the future?

c) Whether my hard work money will get me return back if someone has done something wrong with my account etc, So finally we have to create awareness regarding this policy so that each and every citizen can use it without any doubts.

In my opinion, digital payments are not enough for the Indian economy to go cashless at least untill before creating awarness among people because in India most of people are not very much aware of digital things. India is one of biggest user of mobile phones in spite of this most of people are using it only for communicating with each other or use it in very light manner but when we talk about cashless it means everythings i.e. money hence before going cashless government should aware people about how to do secure transaction or how one can secure ones smart phones and more things.

In my opinion, digital payments is a great idea, that we are looking forward to reducing corruption, black money but the government has to take measures to have a proper internet connectivity and safety to online transactions from viruses (like 'ransomware'). Till now there are some areas where there don't have minimum 16 hrs power supply per day. Another hindrance is a low percent of knowledge about the online transactions by a man of streets. They do not know how to carry out these processes so government should take a step to conduct some camps to educate about digital payments.

Hello friends,

According to me the digital payment is not so much secure for the Indian economy to go cashless, Because a lots of people of our country are illiterate and more others are not well known all about it. Besides these a lots of difficulties also have to suffer such as hacking, false identity, internet problem and many more.

As I think, we can't get a best solution of a problem while we start to do it.

So after starting it, we will definitely get a better solution to fight with these problems, and after that it will definitely will be secure enough for Indian economy.

Yes, digital payments are secure enough for the Indian economy. There are a lot of benefits of digital payments. We save paper and time by digital payments. And we do not need to carry cash with us for purchasing anything. And if we lost our card then that can be blocked and we can get a new card by the bank. But there is need of awareness about digital payments so that each and every person can use it securely. Because there are so many people who do not know how to use atm card and if some know then they do not know what preventive steps should be taken for the payments securely.

As a coin has two sides as like this topic. My friends express their views on this topic. According to me, as India is a developing country. So the primary need is to educate the peoples. So as the technology is made by the people if they are more educated or the illiterate got that much education so they themselves try the easier way (the technology). And more the people get educated more the technology will be enhanced. As the peoples of the developed country are educated so that are able to use the technology and were able to make it better. So the people must be educated first.

Yes, I agree with this. Day by day we can see that corruption in our country increases rapidly. This is the major problem for development of our country because corrupted people are not paying tax.

Every year government has to take money from world Bank as a borrow, this will down our country position in GDP growth.

If digital payment will implement in our country then it will reduce corruption as well as robbery.

Carrying large amount of money is a difficult task so digital payment is secure enough.

There is no need of paper for note printing so this will saves tree in future.

Yes.

India is well growing country among more countries in the world. India is basically depending on the economy, that can bring cashless transactions. The cashless payments bring the country towards the development of Indian economy but some illegal activities by the hackers gone wrong to the normal peoples. The main victims are only civilians that are using cashless transactions. Every enemy country had to know how to discrete the country economy so that's why they developing hackers. So the cashless transactions bring county growth but some remedies to be taken by government.