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

Well, digital payments are of course one of the best ideas which adds more to our country's development. But at this moment, only urban cities can go complete cashless but not the rural villages yet.

Around 60 percent of people are well educated, so it's very beneficial for them to make online transactions, as it saves so much of time, no carrying vallets, you can simply make transactions from anywhere anytime, considering student example itself, we all know how students use to make exam payments but now we can simply pay jus having a cell or a laptop with internet connection but all this is because we have a knowledge about how to use it.

But rural people who are illiterate they do not know exactly about it. So before that, there should be some basic steps taken in order to make them aware of it, they must be given simple knowledge of how to use at least the basic apps like paytm now a days at least one person has smart phone at their home, but they must be provided with internet facilities, usually we students when we go to village, we find we don't get network to get connected to the internet, so they stay there all time, we need to think about all those problems. If steps could be taken in order to overcome the mentioned problems in rural areas then this idea will surely prove out to be the best.

I think digital payments are secure in India, though there are many illiterate people in India in both rural and urban areas and they don't know how to use it but still curb corruption and middleman system it is better that we should choose digital payment transaction because to make India cashless and aware of technology we have to take step either today or tomorrow, then why not today only.

According to me, for Indian economy it will work to some extent i.e. in case of corruption. The percentage of corruption will come down to certain extent, but by seeing today's condition the corruption is still going on, it will mostly hamper to middle class and lower class people in large numbers, the reason being digital payments are not so secure, the reason being that many hackers are active now-a-days.

And a person with less knowledge, or new to this is unable to handle the situations in case he is been one of the victim of hacking.

I agree with the points which others mentioned. In my point of view, yes, India is ready to go cash less as India is a developing country it would be a great step. Recently RBI has passed regulations regarding cyber crimes in order to safe gaurd the customers who would be effected by these cyber crimes.

Yes, it is secure enough to the Indian economy to go cashless. It's great being cashless Nation but it still needs lots of improvement. The government sites are not crashes and they are not frequently updated.

According to me, cashless transactions will be implemented by ourselves only, how it means, mostly every home in our country have at least one educated person in their home, so they should explain the advantages and using of cashless transactions to their families.

And instead of giving unusual advertisements should give, the steps to use the cashless transactions.

Strong foundation will give a good result. So the government will bring the awareness of cashless transections from schooling by providing lessons having digitilized India. This will leads to protect them from security problems evolved in coming future.

It is good time for us to go for digital payments. Out of Total population, 65% is youth having an average age in between 26-28 years but the people live in villages, some of them does not even know, "what is internet?". What I belive? We should go for digital payments with effective and efficient measures.

But we have to go through the fact that, there are so many hackers around the world named as kevin mitnick, Anoymous etc having a capability to hack the entire nation and stole the cash flowing digitially in India.

If I talk about kevin metnick, he was able to hack Petagon defence located in Arlington County. So we have to find measures to deal with these kind of activities could happen in India after digitalise the economy.

I think each and every thing comes with some advantages and disadvantages. In the case of going cashless there are many advantages as everyone said. The major task will be to overcome disadvantages. On the other hand if we talk about illiteracy, digital payments is nothing rocket science that can't be taught.

According to me, if we talk about the safety then no doubt digital payment is a good option but in our country like India where most of the population lives in rural areas, it is not easy to adopt this option. This is a time taking process so before implementing it the government Should start various schemes to educate people about digital payment system and then after sometimes should implement it in our country. We youth should also take an initiative to educate our elders and family members about this digital payment system.

Going cashless is the easiest, quickest and simplest way to transfer money beneficial for our country as it will curb the black money, stealing, begging and other things. But in country like India many people are illiterate and if we overcome these problems there are risk of people to be easily fooled by frauds or by cyber crime. Many places in India don't even has proper networking making it difficult to transfer money or even in situations like blocking of calling or net in a particular area can cause a huge hustle and bustle in that area I am saying that going cashless is a good thing bus going completely cashless is not that great idea.