In its present form digital payment system may be at core of widespread thuggery we are facing from smarter crooks who are tricking us into emptying our bank accounts in seconds. No where such blatant ease is offered to people for transecting and transferring money without much restrictions and validations that it becomes equally easy for cheats to get into our accounts in seconds. This is not to disrespect Govt and hope hopping citizenry for having so much faith on this so called convenience of digital payment revolution which people claim is globally unique and is a fintech trophy only India could hold. It is not that such system is sort of unique technical achievement which no other country could evolve. It is rather a decision to go for it or not. Most of the advance nations have yet not decided on that. People there prefer to use physical card or mobile phone which is equally convenient but more secure. That ‘on the go’ kind UPI is excellent as currency less system but needs systemic background strengthening so that cheats can’t use bots and just a four digit pin to clean sweep our bank accounts.
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