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

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Digital payments are secure or not? I was also I have this doubt but after reading here I got clear my doubt if you had same doubt you should see this answer before making digital payments in India.

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Technology 6 months 2 Answer 138 views Pioneer 0

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Answers ( 2 )

  1. Prachi

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    Yes, digital payments are secure. It is only need to be used very carefully. In rural area of India or most of the people afraid to use such type of payment mode. So government Need to aware themselves to this digitalisation.

    It is a human tendency that they only take the negative points regarding anything so the maximum no. Of successful transaction from digital payments should be shown to people because as per increase of positivity, security & reliability will increase the use of digital payments.

    Best answer
  2. Bhushan

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    Yes, digital payments are better in terms of security than the traditional method in our Indian economy to go cashless. Through the internet, you can do purchase a fraction of a second. We don’t need to carry money from one place to another. But the fact is that in India, people are not expert digital transactions, though they are aware of it yet they fear to try something new. Even people fear the frauds who can access the digital money through the hackers or alike.
    But it is to mention that digital process is secure in a way because every time when payments are mad, it asks for OTP which is sent only to the mobile number. In that way, digital payments are secure and can be easily practiced.
    But considering the vast extent of rural India, what is necessary is educate the village people about digital payments and let them know how to use cards and educate them with all necessary information.
    Another thing to keep in mind is that everything has its own limitations and so also the digital mode of payments. It is essential to ensure the platform where you are thinking to make the digital purchase, you must be sure that it’s secured or not. A large segment of the people in India is not aware of the precautions that must be taken during an electronic transaction.
    So, due to lack of awareness and emergence of new day-to-day threats to technology like Ransomware attack and such, digital payments appear not a secure way to follow.
    But everything has its one pro and cons, and if you are not careful you might make blunder with cash payments as well. Therefore it’s essential to have proper awareness about the electronic transaction you are making and also have adequate knowledge about the platform where you are making the payment or via which you are carrying out a digital transaction.
    In short, digital transaction makes things hassle free and with adequate precaution, you can save both your money and time. Moreover, digitalization in every way will keep us aligned towards the changes going worldwide and remain ahead in the race of development as a nation. Only we need to be self-aware and educate the people in rural India.

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