Overview:  Digital payments are still relatively new in India, and there is always the possibility of a cyber-attack wiping out a person's bank account. Fortunately, the government is hard at work on a highly secure method of making payments using mobile phones and other cashless devices. The Government of India has made digital payment promotion a top priority in order to bring every segment of our country into the formal fold of digital payment services. Technological innovations in the digital payment system are transforming our lives and bringing speed, convenience, choice, and savings to end consumers.

Purpose: The Objective of this research is to study and analyse the awareness in public about cyber threats and cybersecurity regarding digital payment and its available solutions and precautionary measures.

Material and Methods: Primary data was taken for this study with the help of self structured questionnaire. The authors have used Regression and Correlation to test the hypothesis and SPSS software was used to analyse the responses.

Result and Findings: According to the survey, the majority of respondents who use digital payments are educated, and their income status hasn't stopped them from adopting the digital payment system. Respondents have a low level of awareness of cyberattacks. Educated respondents make the best decisions to protect themselves from cyber attacks.

Conclusion: According to the study most of the respondents who are using digital payments are educated but they are not completely aware about cyber attacks. Cyber security is still an issue for them that demotivates them to use the Digital financial services. There is a need for enhanced understanding of cybersecurity, cyberattacks, and countermeasures. Educational institutions require cybersecurity since most individuals are unfamiliar with basic cybersecurity concepts or with the best actions to recover their money back.