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

My opinion is that making digitalization is quite good because in this corruption can be reduced to some amount. But as we are very well aware of cyber crimes happening nowadays so it is quite dangerous also to digitalize payments in this type of conditions.

Now, should take steps to reduce cyber crimes then implementation of digital payment would be good and useful for rich peoples as well as middle-class peoples.

It's good to hear many of you really have spark about our country's economy system I also have my views that technology never fails we people fail to regulate it every good thing takes time as I believe it's really gently a step forwarded to bring stable n secure economy system of India n yes it may bring lots of difficulties while regulating in starting. Digital payment secure enough when we make aware as possible.

We should not forget that technology has its limitations too. No doubt digital payment system is essential for the Indian economy. But first, it is essential to ensure whether the platform available for this new payment mode is secure enough. A large population of our country is not aware of the precautions to be taken while using this electronic payment system.

In the absence of awareness and emergence of new threats to technology (EG. Ransomware attack) I would say that digital payments are not secure enough for the Indian economy to go cashless.

Therefore, it is essential to set up a highly secured platform and make necessary awareness program on an electronic payment system to gain maximum benefit out this.

All of you are right guys but I think in today's time it is not possible for India to become a cashless country. Because a big part of India is rural. I also belong to the village and I think there are more than 60% people are still who do not know what is Paytm. They think online payment ' a magic' and at this time it is not too easy to teach them about online payment. And another reason is that the most person's who know online payment or another digital work also feels fear to do.

But I think India will become completely digital in an upcoming generation if the government, as well as all of us, keeps trying to make India digital.

According to me, digital payment is a good step for the Indian economy. It takes less time and more effective. I agree that it is a very easiest method for us. But in India, most of the people are from poor family or rural area. They don't know about digital payment. Nowadays, Internet hacking is a big problem for us. So they will face many problems. It is not secure for them.

Now, India is one of the largest economies of the world. To handel such a large economy it is very important to go cashless. Now government of India has taken a very good step making India digitalised. Initially people will face some problems but it's not permanent. Specially for rural people, if proper training is provided all will be able to operate new gagets and applications. A transparent economic system can be built using this technique. It's very time efficient. Much work can be done with a little time. It's free of traveling to bank branches, standing in long queues, counting the cash bundles and specially from robbery.

But problem arises with the security. Govt of India should ensure the website security used for transactions so that hacking can be lessened. If the security issue is solved it will be one of the best way for money transactions.

I think digital payment system is very helpful for developing India to move to one step closer to being developed. In urban India, it is not a big problem for folks to understand these payment systems and devices.

As the majority of them are literate and if someone doesn't know, he can find aware person easily.

The main problem comes in rural India, where people have a little knowledge if they somehow mug up the process and if there any upgrade in the process comes they stuck there again.

All in all, it is a most efficient way of payment till now and there is need of more secure devices and application to avoid any type of cyber frauds.

Greetings to all, as an opening statement I believe that digital transactions are not safe enough to make the entire economy of a nation as huge as India go cashless. However petty transactions can be done through this medium because the risk is lower. Its a common occurrence these days, hearing about hacking activities and loopholes in prevailing digital transaction systems. Finally, I would like to say that though such transactions are not safe, we still do them.

Digital payments symbolises the literate and developed India. By adopting it we are entering a new era of technologies. Somehow it will save our time. I agree that most of the people are living in rural areas so they will find it difficult to use. Government should conduct workshop to train people in the most easy way.

According to me, digitalization of money exchange is secure. But knowledge of real and pirated apps should be given to everyone. It helps to transfer money easily but for this exchange of money everyone should have proper knowledge. Mainly farmers and another working part of our society should receipts knowledge so that they can earn and make money using them.