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

I don't agree that digital payments are secure enough in India as many people doesn't know how to use cashless system ATM cards or Netbanking. They fall prey to hackers easily because they give away their private numbers etc to the hackers unknowingly that these numbers should not be given to them. Last months I have got a call from a stranger saying that "your ATM cards has been blocked and to renew it you should give the ATM number and CVV number". This is how some people manipulate others to give their private details. Those who don't know about it will fall for it and will give their private details. So people should be educated well while telling them to go cashless.

Moreover in India we don't invest in security system as other country does. Such as Panama paper has been hacked and got leaked despite having high security. So I don't think Indian cashless system is secure.

In my point of view digital payments are secure & faster for Indian economy. Here have some points for that I think its beneficial for us-.

1. First & prime thing is that, whole transaction will be traceable which would be help to do for better policy for us.

2. Economy growth will be increased, because.

Usually when we get payment from someone by cash and after that if that money sit back at home then it can't grow. In a same situation if we take that money in our bank, it will increase our money even it is for some time also.

There have many kinds beneficial thing which we can get from this digital economy not by 'NOTE' economy.

And the other side's of it, if we talk about infrastructure. Then, everything has a first step after that stage by stage usually it grow.

According to the current scenario digital payment is quiet secure in respect to go cashless but not so enough to boast the economy to apex. Since after demonetization multiple banks have launch they application to enhance the digital payment which means they have a secure path, easy and reliable for transaction to go so Indian economy need a support from IT industry to make digital payment more secure and robust.

In my opinion digital payments are the right thing for India's cashless economy. Because we can do digital payments as per our convenience. We no longer have to stand in the queue for payments. And in India most of the people use Internet. So they can easily do digital payments. And there are many applications available through which we can do payments and also receive some cash backs.

But there will b some difficulties for rural people as some of them don't know how to do this. But as per the passage of time they will also learn this advanced system. In order to make our India a fully digitalized country we all people should encourage this step.

According to my opinion cashless payment are secure and faster enough to save our time. It helps the govt to keep track of the payment easily and also helps to remove the corruption or black money. We don't have to pay anything extra to anyone for e.g. there are mostly things sell on a price of Rs 99, Ra 999 etc so in this case we pay 1000 and we did not asked him for 1 back. But by going digital we can pay exact. If 1 lakh person donate 1 per day then it will cost 1 lakh for the company and it will be a huge amount. We can partially say that in some areas it is not implemented as most of rural peoples are not so much educated. In India still electricity, school are big issue so how could we think about internet at that place.

I am not agree for digital payment secure. Because in our country more peoples are not using ATM or any payment card only for insecurity this digital payment benefits only well educated peoples but not conman peoples.

Hi I'm Sreekanth,

As per my point of view digital payments and cashless transactions are more secure and safe, it even helps to control corruption to a great extent. The digital payments can be made very secure by invention of anti-theft firewalls or technology.

Coming to rural areas it will be very difficult to implementing digital payments due to literacy, improper knowledge of security and don't have a proper infrastructure to developing online payment.

Finally, India will go cashless but it takes time to adopt that system and it requires infrastructure with complete awareness along with a fully fledged security of online transactions.

Thank you Sir, for giving me this opportunity,

Sir I am not agree with Cashless India or Digital India, because there are so many people in India who are not aware from these things even they don't have any knowledge about it, they have lack of Education, Internet, awareness, firstly Government should take step to aware such people.

Yes In some manner it's good way through which we don't afraid of fraud people. It's right decision of PM, Modi through which we give proper amount of pay to shopkeeper. Ex when some buy a product of Rs 99. He/she give 100 Rs to shopkeeper. And shopkeeper does not return 1 Rs. So it's loss 1 Rs. According to population of India. If everyone forget to take their Rs back so how much they loss their money. So acc to me digital payment must be in India.

Hi,

I'm not agree with digital India and cashless transaction now a days. Because it's not possible for all the people in India, and Internet, smart phone is doing major role in digital India, so we couldn't expect all people using those things. It's confusing all non technology knowledge people. So we have use digital India concept is one of type not a main role.