Digital payments are secure and India is ready to go 100% cashless.

For: 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.

Against: No! 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 as an add-on feature), otherwise, there will be more and more hacks.