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

Hello everybody! everyone have their different opinions towards this cashless economy, like it's safe or not, how illiterate people deal with this cashless criteria, etc. But before saying all these things first of all we have to focus on the economic conditions of the poorer of our country, in India there are so many peoples live who don't even have enough food to feed them or their family so, how can they afford such expensive gadgets for every member of their family to do online payments, in my opinion this is the biggest issue against the cashless economy.

With digital payments, there is always a risk involved. The risk of data theft and we have seen the example of Cambridge Analytica. And moreover to that India has the slowest 4g net in the world. Every day we hear about the transactions being stuck in the middle, banks running out of connectivity etc. So hitherto the digital payments are not something we shall look up to. We can use the digital payments for paying a small amount but when it comes to transferring a hell lot of money, everyone wants a complacent gateway and digital payments are not providing it.

According to me, this is the first step toward development to make India cashless but we need to create awareness specially in rural areas by making them aware of pros and cause of digital payment and now many applications developed for cashless money transaction but none of them can be 100% assure about there security. Recently many almighty twitter account got hacked, if our digital service securities aren't enough to secure for them then how can we expect such for us. We need to make it secure so that everyone will trust for making any cashless transaction.

According to me, digital payments are good decision took by our government. Firstly government should take initial steps that all rural people has to know what is digital payments they have to do campaigns for rural people.

1. For example, now 500/1000 notes are banned all of them are started using paying money through Paytm, Freecharge only there are some companies they are trusted and certified.

2. India is developing country we have to use new technologies to develop our country, many developed countries are using all the transaction through online only.

Digital payments are good for Indian economy. Going cashless with a hand of liquid cash is a problem but the digital currency is safe and secure. But in rural areas the people don't know how to operate the digital payments, the government has to take the initiative to create the awareness in the public. They have to explain the advantage of digital payments to the public include how it works. The digital payments some of the events like hacking have happened even ATMs are closed recently, there is some of the satiety issues are proven due to those situations.

A coin has two sides, as it is the initial stage for digital payments so we cannot rely fully on digital transactions. As the cyber fraud has increased these days, people are afraid to use online transactions and prefers to use cash more. These frauds are seen in rural areas are more than urban areas as people of rural areas are unaware of the cyber fraud.

So basically we should first educate people of safety measures to be taken while online payments. In that situation, people get confidence and use more online transactions to make India a cashless economy.

Hello, friends. In my opinion, digital transactions are very beneficial to a developing country like India because these types of transactions have been successful in many developed countries. Some of the advantages are time saving. Fast, safe and secure transactions. To achieve this thing to a very great extent we should be carful while transacting because of increasing level of cyber crimes. To make it successful we should improve our technology level. We also should determine to make education level higher to make our country a cashless or digital economy.

Yeah of course,

As the records say that economy is going to well in upcoming years.

But if you look forward to making India cashless so there will be more responsive to make that secure.

Educate the people is the only way to aware of because if you leave the city areas there are still more rural areas where yet education is completely different. They don't study to make future better, they study for the only degree shake.

According to my point of view, I suggest that first make India fully educated and be prepared for innovative ideas like digital India.

Hello everyone, I totally agreed with the government taking steps to implement digital payment in our country as our honorable prime minister has once said that for a long term gain one has to bear some short term pain therefore it is true that it is not secure and most of the people in our country is not aware about digital economy but some step must has to be taken to enhance digital India and also awareness must be spread about these things in rural areas like organizing a training campaign to spread information about use of debit card credit card etc.

Yes, digital payment is secure for the Indian economy to go cashless by the help of (otp) one-time password. Like paytm, bhim these are very easy to send & received money by other. There are many advantages of digital payment but at this time India is not ready for digital payment. Rural area people are not that educated no Internet connectivity in rural area. And firstly Indian government should improve the cybersecurity system. And carrying a cash know a day is full of risk. So for the development of the country we should take these step necessary.