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

Yes, digital payments are secure enough in one way but along with the positive they are negative consequences too, being a developing country where the literacy rate is not up to mark digital payments can make people learn but beforehand a proper pathway is needed as many rural areas are still lack of electricity how can a digitalization possible. In other way, digital can reduce fraudulent money making, but the chances of increase in hackers cyber crimes are more. So the digitalization should not be a just a word but it has to be highly secured than only it can create a change.

Hello everyone,

I feel before implementing new rules to the already messed up present scenario, efforts should be made in first improving the current situation of awareness of Indians regarding technology. In India, people aren't much aware of the kind of impact technology is going to make in future. Indian government needs to first put efforts in the right direction by training the people with the right resources to make an impact across the globe. India is being one of the fastest growing economies, needs to realise the kind of opportunity cashless economy is going to create.

Right now we don't have that infrastructure of IT expertise in the field of cyber security, which is very essential for the smooth operation and acceptance of digital payment countrywide. No doubt digital payment is very much fast, easy to operate and time-saving, but to achieve these we all must have the knowledge of digital literacy especially for the urban population.

Recent malware attacks are the example of cyber threats so to avoid this in future government should have a better road map to tackle this as well people should have proper knowledge also to avoid and overcome.

Yes, by considering some points digital payments are safe or easy to make digital payments.

As without carrying money anywhere, we can pay any amount as our requirements but when we make payments with cash there are limitations on payment which is not applicable on digital payments also digital payments are helping to make cashless transaction where we can be free from the problem of change of money.

But by considering some points we have to be more aware about our ATM card or pin code of atm so that no issues be created about security but overall digital payments are secured.

Hello,

As the discussion is about are digital payments secure enough for the Indian economy to go cashless. So for this my opinion, is as of now India is not advanced and secured the payments to go completely cashless. But with the same efforts, advanced technology, adoption of rescue measures against cyber hackers, more protection to bank accounts, speed of internet facilities, initial offers for inducement and classes and awareness for village people about digital payments (as our country is with much with village people who are illiterate) can achieve in the upcoming years.

Every new thing have it's pro and cons so in my thinking digital payments is the safest mode to save our money and time but to avoid hacking and all we should implement another software or gadgets which can detect these sort of things.

It's not quite easy to learn anything but it's our duty (youth) to give knowledge to the illiterate people. Many illiterate people knew how to use mobile phones by seeing or by practising so to get aware of the digital payment government should implement some campaign or uploaded some video related to digital payments for the illiterate people.

Yes, digital payments are good for our country, first we don't need to carry more cash that is good for security purpose banks are secure your transaction when you pay anywhere in the world, it is directly connected to technology.

Here is some cons also, as people are facing so many problems due to fewer ATMs especially highways and rural areas and the transaction failed when the network connectivity issue so most requirement of signal tower or strength, banks are charged to the people for out of limit payment so this idea would be better when the taxes will stop by the bank.

Evolution of transferring in Indian economy. In ancient days, People used to exchange the materials as per their need and later on the introduction of coins make the economy easier. Then precede by cash as a medium for buying and selling a product. Now a days there is a issue of securing lot of money and it's a big challenge in our day to day life and also to over come the black money and corruption, we supposed to use digital payments. It's a nice thing and good initiative done by our government As of my aspect, it is very secure enough for the Indian economy to go cashless.

For literate people, digital payment is good, since it is flexible and easily transferable and within seconds amount reached to person's account but these days it is quite irritating as well some times amount gets deducted from the account due to certain reasons and that amount not reached to depositer account. My request is Centre government should look into this, they can talk to all degital payment application authorities to provide their customers care support number so that people can interact with customer one to directly instead of using customised options. Thank you.

According to my point of view, digital payments are quite convenient and less time-consuming. Also, it is quite easy to keep a track record of each transaction individually as well for the government as well. But I don't think that digital payments are secure enough for India.

As we know that many people living in small towns or in rural areas do not know how to carry out online transactions. So they are easy targets for intruders or hackers. In order to secure digital payments, people from rural areas should be educated on how they can make safe and secure transactions.