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

Hello everyone,

Our country (India) is a developing country. Now many things what we do everyday are cashless. Government is making changes regarding this. Even though so many people in towns and villages don't know about the digital payments. Awareness need to be increased, so that we can make everything digital. When it comes to security, maximum security to their extent is being provided by the apps but rest is in our hands. We should be a bit cautious when we are sharing and in keeping of our details. So, I consider digital payments are secure enough for our country.

Advantage: We can sit at any place and with the help of internet we can make payment. Technological Developments are taking place so that servers are more secure so digital payments is a good option.

Disadvantage: Everything related to technology have its own limitation and also loopholes. Whatever single rupee we earn by doing the hardwork (Specially Farmers) so if digital money has been hacked who is responsible?

So, I don't think digital payments secure enough for for the Indian economy to go cashless until and unless we have solutions for hacking the digital money.

Digital payment is a transaction done using a digital method instead of a traditional transfer of physical cash.

It has both pros and cons pros are increased opportunities of business as well as no need to carry huge amounts in pocket hence zero risk of pickpocketing, no chance of getting notes mutilated,

In digital payment, we enter PIN and OTP & the transaction is completed.

We should not share OTP with anyone.

Although the chances of fraud by hackers has increased but being alert we can defeat the fraud.

Nowadays approx 90 percent of transactions are digital.

Hello everyone.

According to my point of view, Digital payment is very good idea for our nation. And yeah in the starting uneducated people will face problems in understanding but for ex when we were children we all have a difficulty in reading words because at the time we learnt the alphabets and now we can read and write same like that people can learn and adapt themselves to the new technology and payment methods and if our government take care of those guidelines that everyone should follow to secure their account then in future we can see great change in our India.

Digital payment is one of the best option to come up from demonetization. As cashless transaction provide us safety through OTP, encryption etc. , I think digital payments are secure. But as amount of transaction through digital payments is increasing, amount of cybercrime or cyber theft is also increasing. Thus goverment should spend more to secure digital payment. So that common people will also prefer cashless transaction.

At the same time awarenesses about digital transactions can be made through campaign or advertising in rural areas which will be more beneficial.

YES, Digital payments help India to go cashless.

1) Nowadays everyone has smartphone and jio connectivity, so an excess of the internet is very easy and digital payments as well.
2) The government has also introduced Bhim, Paytm, all such app help us to go cashless.
3) Taxation would become easy.
4) Robbery, theft will be reduced drastically.
5) Bribe and corruption will also be reduced because government can excess any transition among people.
6) Payment time reduces for long distance payments.
7) To make India cashless, we need to educate people about online banking.

Yes, I think its safe. Because nowadays there are lot of secure ways to cashless service. Before we go to the payment the Password, OTP are the steps through which our details are encrypted. But the most imp fact is that in India there is lack of awareness as well as lack of knowledge to use cashless service. Most of the people can't handle smartphones. So, before the implementation of this, we should make people able to use this service. Because it has many benefits. We can order or purchase the things we needed at home only. No need to go outside. It saves our time. .

Yes, digitalization is a stepping stone towards development. We have been aware of the tax fraud in our country. People deliberately show that their income is not enough to pay tax. Though we face problems in digital transaction very often but there should be certain measures that can be taken while doing the transaction. I personally use digital payment most of the time and I think it's secure enough. So, in rare cases, we only find that there is some sort of malfunction in it. Everything has its own drawback but at least we should try to improve it to make it perfect.

According to me, the big step that our govt has taken to go cashless and implement digital transactions has both positive and negative sides.

Let me first elaborate the positive side, being a developing country digitalisation adds to development. People need not carry money in their wallets just a mobile will do the job. Its saves times and reduces the use of black currency. Govt will be benefited in terms of obtaining taxes from the services acquired.

Negative side mainly points the cyber hackers, lack of education among few section's of our country also is an issue.

Hi, everyone.

In my opinion digital or cashless payment better to India. Because in India has lot litterate people thean compared with illiterate people. If the introduce cashless payments then every one should know about them. For this the but central goverment should be take some steps like make campagein about the how cash less pay, ments are better than the normal payment and what is the uses of them like as. Once the people know about the benifits of the cash less payment they definately encourage the cash less payments. Through this India devolping very rapidly.