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

According to me digital payments are secure payment process but there is a disadvantage too because many people don't have the knowledge of digital payments because if we make a statistical survey then almost 40 to 45 percent of the people are illiterate which needs to have a proper knowledge on this thing so awareness is required for these people and otherwise this is a very helpful thing to move cashless and if the cost of anything we are purchasing is having a very price then it is a very suitable mode of payment without any problem.

So finally in my opinion a proper idea should be given or advertised in order to get a prior knowledge on this thing.

We would like to say that digital payment is very important for India economy. People easy to carry any time and anywhere. Control the corruption if digital payment 100% implement.

In my point of view is that digital payment is secure now a days.You may transaction the amount with using debit card,credit card,net banking etc. But a problem is also is there , problem is you have to require a good connection of Internet. In rural areas there is no good connection of Internet ,so they can't get to pay in digital. In this situation we have to request to government to give internet connection to rural . In this way we can make a digital payment in India..

Hello, I think digital payment is the best way to secure the economy and when the all transactions are digital so there is no stealing problem of money and it is easy to carry the cash card like debit, credit and smart card. And. It's beneficial for all people for payments against purchasing. One of the most important things is that the cashless transactions take some second for paying anytime. Our government trying to improve the condition of liquidity of cash. It's is away to achieve the modernity. Yes I m not saying that it's good for anywhere because there are so many people who didn't know about the cashless transactions and they all get the problem due to this type of environment and I also say that there are so many vendors they don't accept the digital money and yes there are so many problems arisen against the digital payment but I fully support to digital payment because it's fully secured because the whole system is working on SSL layer that is known as secure socket layer which provides the unbreakable security to the consumer and vendors to make digital payment. SSL layer makes a bridge between the gateway and user details that are so much secured.

Digital payment provides many facilities like keeping a record of our every transaction, paying anyone from anywhere etc. It also saves our valuable time as we don't have to go to the bank or ATM for the money. But there is aa large problem associated with this as we need a strong internet connection for payment and transection which is still a dream in India.

Thanks.

Hii I'm Bindu,

According to me, digital payments are not secure enough for Indian Economy. As India is developing the country and literacy rate is almost 70% so not all the people has the knowledge of internet and most of the rural areas don't have the access to internet.

Apart from this, there is a security issue. There may be a chance of hacking account details and misusing it.

Yes, digital payments are secure enough for our Indian economy. It's a good way to become cashless. But these payments should be run by our Indian firms. Many apps for digital payments like Bhim but these apps do not respond sometimes. So this is the area to improve. Digital payments are not used by so many people until time. It's a good way to become cashless but along with that there is a need of amendments in payment methods and should be used by maximum people.

First of all, as all things, everything has two aspects there is some advantages as well as some disadvantages. So I would start with some advantages yes it is true that the digital payment is secure and safe, as day by day increment in technology we have to go with it to make better and fast life schedule. Digital payment makse fast access to own money like online transaction, paytm, debit and credit card by online, etc by which we don't have a problem of change money or even fake note or rough note. The digital payment also gives paying detail or transaction to the seller or consumer by which money corruption will we stop.

By Digital payment we are secure from snatching, robbery, thiefting, black marketing, long queues.

Some disadvantages are digital payment is not possible in everyplace specially in Rural Areas. Some problems hacking of accounts and some time stucking of money during online transaction.

Overall digital payment really changes money access in India. Now we have Bank in our pocket not only limited notes.

Thank you.

Yes, digital payments are secure enough for the Indian economy to go cashless because every payment and every transaction that we are doing is by a online process so there will be proof of our every payment and there will be no matter of cheating. While paying as everything is directly linked with our account obviously we feel it as secure. Many apps are emerging making the payment easy so if we think practically we use time to benefit ourselves but we won't benefit others by wasting our time. We use our time to earn money and again wasting our time for spending that money is useless. So my every view account to consumption of our valuable time.

And if we worry about the rural people everything will be okay as time passes, if this digital payments seem to be successful in some areas obviously every one will learn how to do it as we are seeing the usage of phones now a days in every area.

So we can say that digital payments are safe and secure by following.

1. They are our account (bank) related operations so very secure.
2. Less consumption of our time.
3. Easy payment and;
4. Trustworthy.

Yes, Digital transactions are needed, but before that, we should get our Indian payment gateways to be implemented. How many of us know VISA, Mastercard etc are the foreign gateways and we are losing a lot of money while transactions as service charges to this gateways, indirectly we are feeding them with our money. So, at this point, cashless India is a foolish idea now, until unless we totally depend on our gateways.

And the proof is, as from past 10 months in India, many cashless transactions happened due to demonetization. But still, our GDP went down and going down day by day.