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

Digital payment secure for the economy to go cashless ! No, It does not more secure because Today fake bank Manager call to the many people to make him fool and they can easily make payment from their atm card.

Digital payment are secure but without awareness it is not secure Ex Adhar card payment, phishing site, and hacking also public wifi network. Cashless are good for making transparency to our economy but it has some area limitation, we can not spared it all over area like village. Exception are everywhere So we can take only exception area and make advertisement that our villagers go to cashless.

Anybody tell me when we make online payment through atm card or swapping of card then why 1 or 2 % charges are apply on transaction. Why I pay 1-2 %charge. So cashless does not fit everywhere.

What is the guarantee that application server does not share information as like phone Pe, paytm etc.

So first of all make very strict rule in our constitutions and apply it and, most important things that cyber security are very strong then digital payments secure for the Indian economy to go cashless.

Good evening one and all. I want add one point.

As we all know that digital payments playing major role now a days and it is helpful to increase the govt economy also. What I am trying to say is, for example: if we buy a product worth of rs 99 or 999 or 9999 from online shopping with cash on delivery, after getting our product we will not ask 1 rupee back from the delivery boy and delivery boy will also not take that one rupee into his pocket. He have to pay to the company back. So that, per day approx 1 lakh people or buying in India so we are giving 1 lakh rupees per a day freely. So that it will get impact to the govt economy with these type of activities. So if we use digital payments we can pay exactly for the price of product. So government should get the awareness in rural areas and they should advertise the use of digital payments in rural and urban areas too as it is like swatch Bharat. Thank you.

When we talk of Digital payments or transactions, I would agree to the facts that digital transactions are way too easy and secure. There is lot more savings in time. We can easily manage our own money. There is almost nil threat of robbery or snatching. Going cashless will help the government to track the flow of money effectively and also curb the flow of black money overall.

But our economy is not completely ready for this digital environment. Considering the literacy rate of our country, huge percentage of population is still not aware with basic internet and banking facilities. Also, we cannot ignore this fact that our small villages are still lacking basic necessities such as schools, hospital and even water and electricity. How can we think of installing internet facilities in such places?

To conclude, yes I am in favor of India going cashless. But considering present position, it is suitable for cities but whole nation is not ready for it.

Hi,

No, the digital payments are not secure enough for Indian economy. A businessman always wants cash in flow & outflow for the smooth running of his business. Government of India's demonetization is not a good step in the sight of a businessman. There are so many small traders which do business daily, can't handle their current Bank A/c, they think daily business as a daily wages, reselling of a product daily & profit is the wage. So, they do not want to create their current A/Cs for the handling of the daily reselling business & paying to CA the fees of auditing & paying Income Tax. But the Indian government going to make country cashless, how can this be possible with population of 1.3 B. The cashless is profiting high level businesses not SMEs.

Hi! Everyone.

My answer for ''Are digital payments secure enough for the Indian economy to go cashless?'' is No.

Toady like other developed country India also needs a cashless economy. And the digital payments or we can say e-transaction likes,

E wallet.
UPI payment.
Paytm, Bhim, PhonePe, Tez etc.
E-banking.

Are good enough to do so, but they are not secure enough.

Because there is chances of cyber attacks, hacking kind of things due to lake of awareness towards digital education. Our Government have to taught the common people who don't know about these thins they are still using a simple feature phone. There is not even 3G in remote areas, so the company n Government have to make sure there is good internet connection available everywhere.

In my perception as everything has a both side also in case of digital payments has two sides. Talking about the positive effects are it is very effective and Convenient way for the transaction. Talking about the literacy rate according to 2017 census it is 71.04% means there is a huge literacy rate in India if an illiterate person is able to work on Facebook and whats-app then he will also capable of transferring money using online transaction. Now talking about the cons in India there is no such hard and fast rule for the cyber attacks and also this year 27000 cases of cyber attack has been register and it may reach to 50000 till December which means that the government does not have the proper infrastructure for empowering the digital payments and also because of increasing cyber crime rates the people doesn't feel safe to transfer money.

Hello everyone,

Digital payment in not a good concept at that time because many peoples are not know about the digital payment. In rural areas most of the peoples are not understand the digital payment, at the time of demonetization many peoples are suffered because in rural areas the vendors are not accept the digital payment. In digital payment the most important thing is the good internet connection, but in every where connection are not good. Some of the peoples are not know who to transfer there money through internet.

Thank you.

Hello, In my opinion cashless economy and digital payments are very much needed for our country to take our country to a next level. Yes, there are some arguments that India is not so developed to carry this process, the infrastructure is not good to serve a whole country digital payments. But As a person if you take the initiative to go along with this thought that you have to use cashless transaction, digital payment and you know the key advantages of this simple process then you are ready to make India digital. However.

If a uneducated person can have a facebook account or whatsapp account and he/she uses it very well then the cause is he/she is interested on that, so if we developed the interest on them for digital payment and parallel things and introduced them the simplicity and advantages then nothing is impossible.

Lastly the problem of hacking and all kind of security problems can be stopped by government also by the person, if he/she thinks it's a good initiative to go forward.

Thanks.

Hello everyone. Digital payments are good for the economy of the country as it records every transaction performed by every citizen of the country. This will help the government to track the flow of money effectively and also curb the flow of black money overall. But the minus point here is that there are no firm cyber security laws yet implemented for such digital payment software and websites. Hence for the people who are niche in using such applications may lose their valuable money to the hackers. Also taking into account the literacy rate of our country, there are huge number of people who don't even possess a debit card and for them it will be really tough to adapt this.

Hence I think that digital payments are suitable for the Tier 1 and 2 cities but the whole nation is not yet ready to adopt it.

Hello, I think it is better for us. If we are using online transaction then it will stop black money and online payments is too secure and very easy. If we are using online payment then no one afraid thief or any type fraud. For online payment many types of app available like paytm, mobikwik, phonepe. Also it save our time because if we are transaction money to relative person it will long line in bank.