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

We are union states. We have to go for cashless payment method. But there is many problems in this method like knowledge, some people do not have bank accounts, rate of poor peoples this is the big problem in India. To make our country cashless we have to solve this problem first then we should think about cashless. & I think nothing is secure. It depends on people how they use it or plan it.

The problem in online transaction, as it always have been, is nothing but the inadequacy of usage in the areas where technical deficit and social behaviour comes hand in hand. Almost in all the rural areas and in some urban towns etc. People are not habituated of online payments, reasons being manifold like absence of a bank account or ATM card or even the lack of knowledge that such an online method exits and can be applied, leaving behind the technical reasons like server down, or bugs etc.

However, for semi-urban n urban, where these practices cannot be seen, the one reason is the reluctance to shift to a new way, leaving aside the so old inherited way. Now the solution for the rural regions, though being very elaborate ones, are on the other hand logistically simpler. For example, giving a bank account or ATM card to every known citizen and individually campaigning it by providing the facilities, thus making it practically mandatory. Secondly, installing some e-counters like e-ticket counters in stations, at various locations of a selected village and providing the facilities there, where along with those a "Haat" or a bazaar area can be linked with, even these locations can be at schools and at hospitals. Now, then after, there will be thousands of villages remaining where the primary facilities are not provided by government. So it must be taken up fast and first.

The solution for the semi-urban areas involve complex analysis, since a semi-urban region inherits some characters of the nearest city according to its migratory residential and original inhabitants, which takes in accounts varied diversity. Thus judging the social portfolio and its political inclination becomes very important. Since these semi-urban regions, in max cases are the 'hub of transaction of unaccounted money', online transaction here fails for a particular commodity n becomes successful for another.

In urban areas, the problem boils down to server fixes, and whether an individual is truly comfortable with online payments or not. In most cases, urban people, want it or not, have to bear online transaction, like college fees or admission fees etc. Thus, sometimes practice makes reluctance fade away.

Thus at the end of the day, online transaction should only be there if it had been preceded by primary need fulfillment and technical development. This online transaction is one of the facilities of a developed and uncorrupted environment, but not the way to make a developed ambient. Thank you.

Hello everyone.

As we know everything has some pron and con's but in case of digital payment or making India cashless is mind blowing idea but problem is this that we know that by using card we secure ourself from theft, but we secure ourself from the theft those we can see if you know then every day we heard that 1 lakh rs amount withdrawal from his/her account without his/her knowledge that kind of problem arises day by day in digital India.

If we talk about goa then that is also not a fully cashless.

If we talk about India then we should take care of rural areas also where many of people due to illiteracy face many problems, even many of them are not able to interact with smartphone, in that case the digital India concept fails.

We are Indians we should first take care about the people who are facing problem because of their decision because everyone is not perfect in our India 50% people not able to do digital transactions.

Rather than act or plan first we should try to provide a trainer or put some security on transactions process so that each of you completely knows the better and best way of use of digital India act.

Thank you.

Hello guys,

As per as my view towards this digital payment is that our government did a great job but if government won't think over surcharges which are implemented by bank and other organization related online payment so graph of using online payment will go down for sure. If government really want 100% result from digital payment so government should take strict decision in it and remove all hidden charges.

I know it is very hard decision to remove all surcharges so what! government took lots of charges already in many areas like property tax, income tax, many other taxes & high interest in loan so on. So it won't be burden on them if they do so.

Jai hind.

Hello Everyone,

As all of them are expressing their thoughts in educating the rural areas, We could take the initiative. As all of are educated and most of us have natives in rural areas we could educate the people in rural areas by taking the initiative instead of waiting for Modi Sir to schedule campaigns.

I would like to add this point with other points mentioned already.

Thank you.

It's a great idea and its safe, digital payments are one the fastest mode of transaction. It will make our work easier. And with this step government can actually recover provide hard cash to those who are need of that. But if India goes cashless now then it will be a problem, though it's a great idea, but a large proportion of our country's population are not that much educated to do transaction digitally. So, first of all, we have made them learn this thing then only it can implement completely. Otherwise it's a superb idea.

In my point of view, it has some benefits. We can make the payment easily and it also helps to reduce our time. In other hands it is really safe full system.

Yes, we should adopt cashless, because it is faster, secure, all the records are maintained, and if not now then when It's high time by saying India is populated with more labour class, I think once it is implemented it will be adopted by all, it will be tougher but all toughest work is done by illiterate people, and in my opinion this is not that toughest than their daily work. So India should go cashless. It is the major sign of our growth in development.

Yes, Digital payment is very much secure and beneficial for India. Now, India is growing country so the people in the country must have to smart. By digital payment, people can collect their salary and can purchase any product or item. There are so many mobile applications are available in marker and they are very highly secured.

Main reason for cashless transaction :

1) Terrorism.
2) Block money.
3) corruption.
4) counterfeit currency.
5) parallel economy.
6) currency storage.
7) to check Black Money hoarders.

Impact of cashless transaction:

Inflation, reduction in monetary circulation, cash deposits in banks, easy loans.