Digital India campaign was launched on 1st July 2015 by our honorable PM Mr. Narendra Modi and team.

With the boom in the Indian telecom and networking sector, all thanks to Jio, a larger number of population is now tapped online, which is a good sign keeping in mind the idea of forming a more stable and foreseeing economy. With the emergence of online payment platforms like Paytm, Google pay, Phonepe, BHIM, Airtel payments, etc, people are now more and more relying on online platform methods and becoming more cashless.

But, people who are unaware or slightly less technically-educated are still not comfortable with the online payment methods, many falls back due to loss of money, theft while others are not aware of the online process of money transfer. So let’s try and answer the question must be asked, Are digital payments safe?

Yes, digital payments in India are secured. To safeguard the details of users, systems are tokenizing, encrypting and authenticating data before use. But users should carry out digital transactions carefully. They should only opt for more secured processes like transacting on TFA (Two-Factor Authentication) supporting gateways only. Every payment online is monitored by end-to-end encryption, every details are secured on the main bank server as well as the partner payment gateway, so there is a very minute chance of theft or forgery while making any online payment.

Against-

There have been many instances of online accounts being hacked. In a country with 98% cash in circulation, electronic payments replacing cash is not going to be easy. Especially after the severe cash crunch post demonetization, we are scampering to carry out digital transactions. This is not right. Cyber analysts have already warned us about serious vulnerabilities in payment systems. The need of the hour is to have security features embedded in the hardware and software, as a part of the basic design (not add as a feature), otherwise, there will be more and more hacks.

Judgment-

Digital India is a very good idea, but maybe we need more secured networks and more advanced and competitive cybersecurity professionals in the banking industry, platforms like Paytm, Google pay, etc which are most in use shall inculcate some methods which will lead to more and more customer to rely on the online payment methods, and government needs to form cybersecurity rules and norms which every bank and online payment platforms shall follow.

Payment made online are directed through online channels through partner bank and onto the destination bank or a/c number, the education regarding the process and safety of the payments made online shall be taught to technically-illiterate people in the society and support more online methods, also companies need to promote their platforms in smaller cities and towns, shops and shopping complexes which will also result to help in developing more and more people to use online payment methods and promote digital India.

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