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

I don't think digital payments are a secure way to do payments as We live in an economy where we have a big ratio of people from villages and who are uneducated as well, being cashless become a difficulty for them and it will lead them to be dependent on others which can lean frauds also. In our country internet speed is not as much good as the western countries have. In fact, hackers can easily hack our sites. We recently have an incident in which Aadhaar data was leaked over 200 sites, So in short, we don't have such strong systems and site workings to relay on digital payments.

With regard to this, we should concentrate more on giving awareness to the public regarding the risks associated with digital payments like OTP frauds etc and make them literate on systems and procedures associated with digital transactions. Also, I would like to say that most of the players offering digital payments in India offer high level of security with multiple layers of encryptions and other technologies. So making the public with such applications, smart phones, internet etc would definitely boost up to reach the goal of what we say a cashless economy in the near future.

Yes, of course, it is. Now a days we have moved very far away regarding digital payment, I still remember that day when we have to go bank and stand in que to send money to someone and bank staff used to tell that it will be processed after 2-3 hour.

Now you can imagine we have paytm, Google pay, phone pay they all use UPI method of payment it takes only seconds to transfer money. And it is transparent, you can track transition history, it just not saved our time, No tension of getting theft, you can keep lakh of rupees in your pocket and Saved tree as there is no cash involved.

Yes, Because in this country have a big population and we need a big economy, making digital payments is secure in India because very strict terms and conditions of Indian government on Banks which are member of RBI in some area fraud apps and local banks are miss generating public by cheating them so in this India everything is secure and banking also very secured and this is helpful to save the time of public and they are using their account by themselves only and each transaction will be recorded and auto-generated messages by banks I think digital payments have enough secure.

Hello, everyone good morning one and all I admit for who was share about this topic.

And I am also sharing one thing to all.

Let's see Indian people are means more ratio even educated people also how to use banking card through online who comes from native like villages and semi skilled persons so my advice to govt first take a subject about this digitalisation and put some invest to distribute respective card s and etc for what we increase in our India, that we will be learning to them practically then they will use next time safely and so securely that's all about. Thank you.

I would start with an example of one of my friend who lost 30,000/- of his cash somewhere just a few days ago. And guess what, he doesn't even have a bank account. This situation for him would not have arrived if he had a bank account and cashless economy system.

I agree that there are some disadvantages of the cashless economy also, but what I believe is there are some pros and some cons for everything. Instead of keep boasting about cons if we work on it, the things will be great and it's the responsibility of us, the youth, to make the illiterate people aware of this things.

Hello everyone. today we are going to discuss digital money. Digital money is the type of money in which we have no money in our hand. I will say it good because we are living in 21 century where everything is digital and by this digitalization,that we can save paper and thus we can save trees and can give a better environment to our next generation. And today as you know we are facing a big problem of Coronavirus and it is contagious and by using paper currency we can increase no of cases. So digital payment is safe for everyone as well as the environment that's all it from me.

Implementation of digital payments in India is a very good idea by the government but some how it is not secure because of hackers especially in rural areas because people in that areas are not much educated so they do know about digital payments so they can share confidential data with the people so the hackers will use this data and can easily hack their accounts so government should implement awearness programs to the people about digital payment and about hackers so finally implementation of digital payments in India will improve india's pride a bit level more in technology.

Good Morning friends:

Yeah, I support the digital payments are secure enough for the Indian economy. But currently, it's just a little bit.

We know that approx 70% of the people are living in the village, and most of them have no proper awareness of using the Internet and digital payments. Besides these, another thing such as false identity, hacking, no proper internet connection etc makes a fear on them. So I think first we should try to make aware to people with these.

And I am sure that, when these changes will complete, it will definitely be secure for the Indian economy.

In my point of view, is it secure or not is based on the person using it. If the person is good enough in technology then no problem arises. But the problem is with the uneducated people. Government and banks have to educate the people by conducting awareness programs. Even educated people also fall into the trap by the hackers. Digital payments reduce the corruption and it eradicates the problem with the pickpocketers. But in rural areas, there are network problems. If the internet is reaching to rural areas and people are educated then digital payment will be secured in India.