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

I don't think the digital payments applications are secured enough. The UPI based payment applications on your phone ask for your Phone code and the UPI pin that you have set for your account. These codes can be very vulnerable and easily your account can be hacked.

Security is the biggest issue now a days in the digital world with any application requesting you to allow the access for your private data. And even if the privacy can be protected from the digital payments application it is long way to go for them to make Indian economy cashless as we will need to educate the population about the secure gateways for payments.

Hi in my point of view the cashless transactions are not suitable for India in this current situation, but that's a good action taken by our government, we all have the responsibility to implement this cashless way, but before that the education system must be standardized one in our country because till some uneducated peoples from rural areas doesn't know about how to use ATMs, so we must give the proper training for that.

So I conclude that the digital payments are very good one but that's not a correct time.

According to Qualcomm an American chipset maker the digital payment systems used in India are not working on a safe hardware system. So there is still time before India goes completely cashless as Qualcomm is planning to integrate with Indian companies in order to provide safer digital payment systems.

I support cashless economy and also I against cashless economy.

I support cashless economy because it is very helpful for save the time and money because in the companies online transactions is very impotent for the business and also it is very impotent for the banking system and government policy.

I against cashless economy because for the Indian people cashless economy is not possible. Because all the Indian people does not know how to use online transaction. They do not know how to use credit and debit cards. So for the Indian people cashless economy is not good.

Considering the current situation in the country, it could not be a vulnerable situation for the digital payments. Rather than, it's a responsibility of the Indian government to provide and protect the digital payments. Government has to undergo to make the Indian economy enough strong with the digital payments so that people can have the assurety. As it is initial stage, need to be provide some benefits for these kind of payments.

Well if you ask me it has more advantage than disadvantage first it will improve Indian economy and obviously lower caste will be benefited from it the most. Black money will be reduced.

Yes there is a danger for hackers and all that.

But we have police for that.

Discard the use of digital money just because of hackers is like you are not allowing women to go out of your home because there are stalkers outside waiting for them.

Mode of digital payments have been enabled in India with a perspective to curb against the black money, to reduce corruption, to stop black marketing, to enable effective tax regimes but that doesn't actually works just because in India people's know how to exploit the opportunity they always find the loopholes against every government actions. Moreover the action they initiated they are not able to make it in process in effective manner due to lack of management and effective technology. No doubt it's been an effective move by the government but the results are in a long queue to come in actions.

What I think is we are here to discuss are digital payment secure enough not about digital payments pros or cons. So, coming back to the topic I think the technology we have today for security is still not good enough to cashless as we see everyday fraudulent cases and the measures taken to stop them are still not enough catch them. There are some digital payments which are safe like one of SBI but still with such less no of digital payments secured we cannot implement it for whole Indian economy.

Hi from my point of view digital payments secure for the Indian economy to go cashless there's so many advantages of online transaction because due to online transaction our government can access every single transaction detail of individual that's why there is no fear for black money instead of that there is some disadvantages if we go cashless then we vulnerable to Cyber world hackers can get a lot of money from any account of individual or from any institution but it is quite impossible to get directly from Bank or any other financial institution one of our friend tell that our country did not spent a lot of money for decrease the cyber crime as compared to other country.