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

India is a country which is builded with so many belief systems, cultures, traditions, superstitions. Everyone in this country is aware of all these but they are not aware of modern technology still so many educated people are not knowing how to use the technology present in their hands. To make the country educated one should have curiosity towards new things about technology. Cashless transactions makes everyone's job easy with a single click but still so many people who are in rural areas are not aware of to make them aware our government should make organized camps in rural areas with a team of people to educate them about this and also the law should be made strong for punishing the Cyber hackers. If these steps are followed definitely everyone go for the cashless transaction.

Digital payment is a good procedure for making payment online. In our country, PM Narendra Modi has introduced an app BHIM. It is very helpful and saving our precious time and there is no need to go anywhere, you can send money by a small swipe in your phone. In spite this, there are many apps like Paytm, phonepe, mobikwik and many others are proceeding to pay online and also giving various discount i.e. cash back offers, shopping etc. After all this is follows the high security while we are making online. When we are paying it is giving OTP (one time password) to confirm that the concerned account holder is using or not. If we focused our past there had to stand in a queue to deposit and withdraw money and many time we were unable to make withdrawal due to limited cash. But now a days it done on the little swipe. It is only possible by Digital Payment.

Hello friends,

We agreed with our Friends and digital payment able to secure enough to get Indian economy cashless to some extent level. For cashless economy education and awareness is the most mandatory requirement for performing our work or task online and digital mode. Our Indian population is not enough literacy ratio to get 100% cashless economy but late on we will able to achieve it our government and Indian banking is doing continuous efforts to make our economy cashless. Sweden, Canada and UK is some examples of cashless economy. It benefited our economy and our people very much we can perform our financial work online anywhere any time. It also helps in preventing black money circulation, terror funding and money laundering etc.

In India, people are not so aware of Digital payments. But nowadays digitalisation is growing slowly and people are going cashless. It requires more cybersecurity. Before digitalisation, the security problem was by thieves but now it's by the hackers. According to me, OTPs and PINs provide a great security but it isn't completely secured. But I think India should keep more cybersecurity officers to improve security.

Yes, Digital payments are much more secured form of payment than cash but every coin has two sides, In our country, most of the people are reluctant to go cashless yes this is the bitter reality governed by many factors like lack of awareness, fear of not knowing the process, no proper guidance and promotions plus illiteracy is an add-on to it. India has a diverse range of population some rely only on cashless transactions others don't have enough money to even arrange their two times bread and butter. So, yes going cashless is secured but those who don't have cash, who are thinking about them?

Thank you.

Yes, they are good enough to promote cashless economy in India & that's why many customers, shopkeepers (both small & large scale) are using them in both big and small cities. But, there is always a room for improvement & hence the digital payment system in India should be strengthened more so as to attract more people towards it.

This can be done by promoting the same in big cities, then small cities and towns by advertisements, street plays, social sites which will tell people the merits and usage of digital payments. Youth & children can encourage their elders towards this new step.

In my point of view, Digital payments are secure enough for the Indian economy. Actually, digital payment is secure but the people feeling insecure with it because of their lack of knowledge towards its use. Many people finds the difficulty in their net connection, server slows down, forgetting pin n much more but they simply blaming to digital payment method, however, this inconvenience is totally due to their faults, sometimes the system issues. So simply I want to tell you that, we should understand the fact behind, unsure feeling towards digital payments, as they are very easy, less time consuming and really safe. Sometimes it's possible that anybody may face difficulty with it, even they did precautionary, so in such case just remember "Everything has an exception". Some limits, If we get flexible with it, then I don't think people may feel it unsecure.

In my perspective, digitisation is very much secure and convenient enough to use by anyone. It makes you go cashless, and even blocking the black money concept. This is the big initiative of today's government, we should support them, for our country development.

Good Morning everyone.

From my point of view, I think it's almost secure to do online payments. As govt of India is doing maximum possible activities to make the digital payments secure. And digital payments provide a wide opportunities to the Indian customers. As it gives a wide platform for the buyers and sellers in Indian market to do business.

It enhanced the Indian markets to next-generation marketing and selling activities. While we make a payment we can understand that how safe is the payment platforms. As it is processed through 3D payment gateways. And for online trading activities SEBI keeps an check on every transaction. But we should consider that every law has a loophole. Even the most secured American gateways are being hacked. Thus we should also keep an safety from side without exposing the passwords. Thus I conclude that, Indian digital payment platforms are secure and also have a vital role in the development of Indian economy.

I agree with my friend point,

Digital payment is not suitable for low-class people who does not have mobile phones, smart phones, etc.

In my point of view, it is very difficult to village people to adapt in cashless environment.

70% Of the people in India can manage.

But what about remaining 30%?

So if we do some change we consider the people all over the world.

In that point, it is not a right choice.

We have to improve a lot then we have to change into cashless environment.