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

So yes what you actually think is digital payment secure enough to be used?

What I feel is like India is the only country where the flow of cash in thy economy is most. Due to which people try to save more instead of investing or using it. The perception is simply like save more not invest more. We should try to look from every perspective. People in India fear to use their ATM cards they feel like what if something went wrong. So there is a need to make awareness about the online payment and other possible opportunities so people would try to spend more in the cashless transaction. At last, I would like to conclude that this will also encourage in less corruption there is a limit as well and if you are doing any thing wrong then data is there which can also be used as a proof too.

Hi, everyone.

In my opinion digital or cashless payment better to India. Because in India has lot litterate people thean compared with illiterate people. If the introduce cashless payments then every one should know about them. For this the but central goverment should be take some steps like make campagein about the how cash less pay, ments are better than the normal payment and what is the uses of them like as. Once the people know about the benifits of the cash less payment they definately encourage the cash less payments. Through this India devolping very rapidly.

Digital payment is like a double edged sword it has many advantages. But it is not secure. Around 40% peoples of India are illiterate and even those who are literate prefer cash transaction rather than digital payments. For digital transactions, peoples have to take care about their password, OTP, user id etc. Which is not possible for illiterate, rural peoples. Government has to create awareness among peoples to do cashless payment in an effective way (ie, they should not tell their password, OTP to anyone. And if our economy will become cashless it reduces the cost of printing of notes, decreases the cases of robbery and also reduces corruption. Cyber crime is also a major problem in the security of digital payment.

According to me, digital payments secure enough if it upgrades because most of the in a family of 4 or 5 people there is generally 2or 3 cards so can everyone should participate, and in the relaxation in tax up to a certain amount so that people participate with their interest.

Hello, everyone.

In my opinion, digital payment is secure and making Indian economy towards cashless as because it is making fast payment where you have not to worry much about the money you have and those transactions are have a number of securities. And also you can transfer your money anywhere in the country.

Due to digitalization. The money would run into the market enormously and it will create a boom in Indian gdp and black money can also revamp through this effort. It's very necesaary for India.

In order to incorporate the digital transaction in India, the government has to do its part on establishing trust in people's minds. Even minor security breaches for some can stir up distrust in people at large and deter them for making this shift. The fact that cyber attacks are on the rise in the global community itself dissuades many. Hence, the government has to make sure that only secure transaction platforms make their way into the daily lives of people and any security breach is dealt with an iron fist. If these basics are set in place, the benefits of digitalization will speak for itself for even the backward communities who are new to mobile phones and the internet. Quick, easy and reliable payments would be cherished by all once the government succeeds in the above-mentioned role.

I can say that the digital transactions or payment is not mandatory for every invidual. Due to this, the people who are considering as illiterates can go for non digital transactions upto they get aware digital payment.

I think it is somehow secure as well as not it is bot possible to maje Indian economy totally cashless as we have 40% (approx) population which is not aware of digital payment so first we have to make them aware and then think about making our economy cashless.

Digital payments are need of today's world. But in India digital payments systems are not much secure as there are some 3rd party Digital Payment Systems which are totally fraud. Also in India Digital Payment System is not fast as I personally face time delay in failed transaction. If a transaction is failed the it took months to get refund. Moreover some people of India are not much aware to Digital Payments as some poor people cannot afford to buy smart phones to enter into Digital Payment Zone properly. So I think if we want to have Cashless economy then we have to make our Digital Payment System more fast, secure and accurate and start some programs which would make people aware about this system.