a. prominent = ix. standing out so as to be seen easily, conspicuous
b. vulnerable = iv. exposed to the possibility of being attacked/ harmed
c. potentially = viii. with the capacity to develop or happen in the future
d. transaction = i. an instance of buying or selling of something
e. initiatives = ii. the power or opportunity to do something before others do
f. launched = iii. to introduce a new plan or product
g. enduring = vi. lasting over a period of time; durable
h. robust = v. strong and unlikely to break or fall
B. Find their full forms.
QR = Quick Response
ISO = International Organization for Standardisation
IEC = International Electrotechnical Commission
URLs = Uniform Resource Locator
EMVCo = Europay, Mastercard and Visa Companies
PIN = Personal Identification Number
C. Vowel Sounds /ʊ/ and /u:/
put = /pʊt/
push = /pʊʃ/
boom = /bu:m/
fool = /fu:l/
food = /fu:d/
hood = /hʊd/
loose = /lu:s/v
full = /fʊl/
bull = /bʊl/
book = /bʊk/
foot = /fʊt/
boost = /bu:st/
vgroom = /gru:m/
moon = /mu:n/
soon = /su:n/
look = /lʊk/
hook = /hʊk/
cook = /kʊk/
should = /ʃʊd/
soot = /sʊt/
room = /ru:m/ , /rʊm/
soothe = /su:ð/
stood = /stʊd/
Comprehension
A. Decide whether these statements are True or False. Write NOT GIVEN if you do not find the information.
a. The system of OR codes was first launched in South Asia. False
b. The standards of payments via the QR codes were approved by EMVCo. False
c. All sorts of businesses are aided by the QR code payments. NOT GIVEN
d. There are several models to the QR code payment service. False
e. In countries like Nepal, the QR code paying system is a complete fiasco. NOT GIVEN
f. The QR codes payment service is not applicable to small business. False
B. Answer these questions.
a. How can one pay with QR codes? Ans: If one wants to pay using QR codes, all he/she has to do is scan the code with the QR code scanner app and then confirm that, to proceed with the transaction.
b. How did Tencent and Alibaba companies utilize the QR code services at the beginning? Ans: The QR code services were first used by Tencent and Alibaba by implementing proprietary standards defined in 2017 by EMVCo for payments.
c. How do the QR code based payment services launched by Visa and Mastercard mitigate problems? Ans: The QR code based payment services launched by Visa and Mastercard mitigate payment problems with a focus on emerging economies. Both Visa and Mastercard are focusing on merchant presented QR codes, whether static or dynamic.
d. Why do we need a scheme operator to run the QR code based payment system? Ans: We need a scheme operator to run the QR code based payment system for scheme branding at acceptance points, defining the scheme rules and providing a mechanism for handling disputes and exceptions.
e. What basic requirements are needed to use the QR codes services? Ans: Using QR codes is as simple as getting a bank’s mobile banking app and entering personal account information into it. It requires nothing more than this. QR codes may be used without any prior registration.
f. How can security concerns related to payment via QR codes be addressed? Ans: Usage of merchant IDs, registration and real-time notification of payment clarify the security concerns related to payment via QR code.
g. Who should be more careful: customer or the merchant in terms of payment issues? Why? Ans: Customer should be more careful in terms of payment issues because if the app displayed the merchant’s name, he/she could check that it was correct. This could be part of more robust protection, achieved through the use of a digital signature, so that the merchant ID and merchant name are authenticated by the mobile banking app as well as the customer before the payment is made.
h. Do you think the QR code based payment can be a panacea for all sorts of payment problems? Why? Ans: No, I think the QR code based payment can be a panacea for all sorts of payment problems. It is expensive and complex transaction as it required smart phones.
Critical Thinking
a. Some business houses, shops and department stores in city areas have started to adopt QR code payment systems in Nepal, too. What should be done to make it more accessible? Ans: Qr codes are still in the experimental state in Nepal. Scanning the QR code is the simplest way for customers to maker payments. But for the easy accessibility in QR codes based payment systems, consideration must be given to infrastructure developments such as high-speed internet and increased gadget-accessibility for all users. Technicals should be hired in order to teach the ignorant people the ways to use QR Codes and make secure payments. Interoperability of digital payment systems should be a goal for payment service providers, operators, financial institutions and dealers to work together toward. The final goal should be to provide customers with a method to access all types of e-payment services, including QR code payment.
b. Is it possible to apply cashless methods in payments in Nepal? Discuss. Ans: QR code payment can be significant factor in uplifting Nepal’s digital economy. A couple of years ago, the use of the digital platform for transactions was quite limited. But the trend of using cash as a mode of payment is gradually shifting to digital transactions. This makes consumers believe that the future of transactions is a cashless payment method and Nepal is moving towards becoming a cashless society.
There are several benefits of a cashless economy. One of the major benefits of going cashless is the security factor. By going cashless people will not have to worry about theft and robbery. Further, to talk about transactions of large amounts or just general transactions, digital payment systems provide transparency as they enable users to have records of the transaction which may decrease the fake activities. Additionally, consumers in every part of the country can have access to financial services and easily make simple transactions. Cashless payment helps a businessman to save time and cost of cash management and reduce the paperwork.
The cashless payment system needs advanced technology system skills, a smartphone, and a technology facility. If the lack of these facilities is fulfilled, it is possible to apply the digital mode of payment system in Nepal.
Writing
B. Write a news article about digital payment systems in Nepal.
Digital Payment Systems in Nepal
Hari Sharma
19th January, Kathmandu
Digital business or payments are the payments without physical exercise. To clarify it, digital transactions take place entirely electronically, with no need for a person to visit a bank. Digital payment is becoming more popular in Nepal, especially in light of the country’s current economic crisis. As a result of QR codes, the general public’s interest in digital transactions has grown recently.
Digital trade is becoming more popular across the world. As a result of this, Nepal Rastra Bank has lately provided a significant boost to digital business. Additionally, the National Bank of Nepal permits financial transactions via payment service providers such as IME Pay, Prabhu Pay, Khalti Pay, Moru Pay and Pay Time as well as Mohar Pay Card, Smart card and e-service.
According to the current digital payment policies, money will be transferred from one account at a bank or financial institution to another account at the same bank or financial institution, all under NRB’s authority. Taxes, revenue, fines, car fees, registration fees and service fees that must be paid to the appropriate government agency may be paid in many forms. Similar payments may be made for electric and telecommunications services as well as drinking water and insurance premiums and social security benefits. This is also how schools and colleges as well as hospitals as well as air and ground transportation services, as well as hotels and restaurants collect money from their customers/ customers to pay their bills, and to trade shares with registered securities brokers.
In Nepal, digital commerce has also sparked a major shift. Time has been saved, corruption has been reduced, and criminal activity has been curbed as a result of doing business through this medium. To help the economy function more smoothly, digital technology may be employed for cashless transactions. Digital services like Branchless Financial Cura, POS Machines, Debit Credit Cards, Smart Banking and Phone Pay provide for secure banking transactions.
Grammar
A. Look at the following questions and say what type of questions they are.
a. Do you like this country? = Choice question
b. Where is she from? = Wh-question
c. How many eggs do we need for this cake? = Wh-question
d. Whose children are playing in the yard? = Wh-question
e. Does she like ice cream or sweets? = yes/no question
f. She sent him an invitation, didn’t she? = question tag
g. Could you tell me if the doctor is available? = indirect question
h. Do you know how tall they are? = indirect question
B. Choose the correct words from the box to complete the sentences.
a. Is your friend a scientist? -No, he’s an artist.
b. Does Naresh live in Kathmandu? -No, he lives in Pokhara.
c. When did you get home? -I got home yesterday.
d. What time do you get up? -I get up at 6:00.
e. Did the children go to the park? -Yes, they went there after school.
f. Are you going to school? -No, I’m going home.
g. Can you speak Chinese? -Just a little.
h. Where did you grow up? -I grew up in Okhaldhunga.
C. Make wh-questions so that the words in bold become the answer.
a. Romeo loves Juliet. Ans: Whom does Romeo love?
b. My mother made delicious bread yesterday. Ans: What did your mother make yesterday?
c. The music was composed by Narayan Gopal. Ans: By whom was the music composed?
d. I’m looking for a new book. Ans: What are you looking for?
e. They were talking about the new movie. Ans: What were they talking about?
f. She got the idea from a story. Ans: Where did she get the idea from?
g. She always goes to school on foot. Ans: How does she go to school?
h. She sometimes goes to the cinema. Ans: How often does she go to the cinema?
i. They have been waiting for three years. Ans: How long have they been waiting?
D. Change these indirect questions into direct ones.
a. Could you tell me where Market Street is? Ans: Where is Market Street?
b. I’m longing to know what time the bank opens. Ans: What time does the bank open?
c. Do you have any idea how he’s managed to get in shape so quickly? Ans: How has he managed to get in shape so quickly?
d. I’d like to know how much this motorcycle costs these days. Ans: How much does this motorcycle cost these days?
e. Did you notice if he had left the car in the park? Ans: Had he left the car in the park?
f. Have you found out if the train has left? Ans: Has the train left?
g. I was wondering if they speak English well. Ans: Do they speak English well?
h. Would you tell us how we can get to the post office from here? Ans: How can we get to the post office from here?
i. Do you remember if I locked the front door? Ans: Did I lock the front door?
