Section I : Language Development
Chapter 6
Money and Economy Working with words
A. Match the words in column ‘A’ with their meanings in column ‘B’.
a. prominent
vi. 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
ix. lasting over a period of time; durable
h. robust
v. strong and unlikely to break or fall
B. There are different abbreviations used in the text. With the help of
the internet, find their full forms.
QR :
Quick Response
ISO :
International Organization for Standardization
IEC :
International Electrotechnical Commission
URLs : Uniform Resource Locators
EMVCo : Europay, Mastercard, and Visa Company
PIN :
Personal Identification Number
C. Pronounce the following words and identify the vowel sounds /ʊ/ and
/u:/. You can take help from a dictionary.
/ʊ/
put, push, hood, full, bull, book, foot, look,
hook, cook, should, soot, stood
/u:/
boom, fool, food, loose, boost, groom, moon,
soon, room, soothe,
Comprehension
A. Decide whether these statements are True or False. Write NOT GIVEN if
you do not find the information.
a. The system of QR codes was first launched
in South Asia. True
b. The standards of payments via the QR codes
were approved by EMVCo. True
c. All sorts of businesses are aided by the QR
code payments. False
d. There are several models to the QR code
payment service. True
e. In countries like Nepal, the QR code paying
system is a complete fiasco. False
f. The QR codes payment service is not
applicable to small business. False
B. Answer the following questions.
a. How can one pay with QR codes paying system?
One can pay with QR codes paying system either by
presenting a QR code for scanning to the merchant, or by scanning at the
merchant’s QR code.
b. How did Tencent and Alibaba companies utilise the QR code services at
the beginning?
At the beginning, Tencent utilized the QR code
services in its social media WeChat for friending and Alibaba utilized to
facilate Alipay payment services.
c. How do the QR code based payment services launched by Visa and
Mastercard mitigate payment problems?
The QR code based payment services launched by Visa
and Mastercard mitigate payment problems by linking QR code payments to debit
and credit card accounts.
d. Why do we need a scheme operator to run the QR code based payment
system?
We need a scheme operator 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?
A suitable, secured scheme operator is required to
use the QR code services.
f. How can security concerns related to payment via QR codes be
addressed?
Security concerns related to payment via QR codes
can be addressed by the use of merchant IDs, registration and real-time
notification of payment.
g. Who should be more careful: customer or the merchant in terms of
payment issues? Why?
A customer should be more careful in terms of
payment issues because it would be better to stop the fraud happening in the
first place rather than trying to correct it later by the merchant.
h. Do you think the QR code based payment can be a panacea for all sorts
of payment problems? Why?
Yes, I think the QR code based payment can be a
panacea for all sorts of payment problems because it is fast, secure and easy
to create.
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? Discuss.
The Covid-19 pandemic has immensely boosted the
Scan and Pay service through the QR code in Nepal too. People being concerned
with their hygiene are supporting the contactless payment system. Evolving
digital payment service providers like Fonepay, IMEPay, Khalti, QPay, and
SmartQR also encourage QR code payment by offering their users Scan and Pay
services.
QR code payment systems can play an impactful
role in changing informal sectors into the formal economy. However, Nepal needs
to tackle challenges in many infrastructural and behavioural traits before
reaching the full potential of e-payment. The lack of interoperability is
another major issue for a stable digital payment service. Rapid growth in
several PSOs and PSPs may result in an imbalance in the ecosystem of the
digital economy. To avoid this hurdle, a unified payment switch is necessary.
QR code payment can be a vital factor in
uplifting Nepal’s digital economy. The government giving more priority to
digital payment systems and the central bank to promote this system can be a
head start for QR code payment.
Mass awareness campaigns and promotional
events can also influence this transition. Infrastructural development like
high-speed internet connection and wider user accessibility must be considered.
Payment service providers, payment service operators, bank and financial
institutes, and traders should work together to bring interoperability to their
digital payment services.
b. The payments landscape is shifting gears from cash to digital mode.
Digital payment brings ease and convenience to the consumer. Is it possible to
apply such cashless methods in payments in Nepal? Discuss.
It’s hard but not impossible to apply Digital
payment system in Nepal. Nepal needs to tackle challenges in many
infrastructural and behavioural traits before reaching the full potential of
e-payment. The number of internet users is impressively growing but still not
enough to process an established digital economy.
QR code payment systems can play an impactful
role in changing informal sectors into the formal economy. The government
giving more priority to digital payment systems and the central bank to promote
this system can be a head start for QR code payment.
Mass awareness campaigns and promotional
events can also influence this transition. Infrastructural development like
high-speed internet connection and wider user accessibility must be considered.
Payment service providers, payment service operators, bank and financial
institutes, and traders should work together to bring interoperability to their
digital payment services.
The ultimate goal should be offering a
one-stop solution for the consumers to access all sorts of e-payment services,
including QR code payment.
Writing
A. Punctuate this paragraph with appropriate punctuation marks.
It was a cold freezing day, it had been snowing all
day in New York. Mr. Tim cooked and I went outside to play in the snow. We had
not seen much snow since we went skiing in Sweden last year. Mrs. Smith was
right because she had said that we’d see snow. The next day we had really a
wonderful time there, didn’t we?
B. Write a news article about digital payment systems in Nepal.
Digital
Payment Systems in Nepal
Digital payment is gaining momentum due to social
distancing during the Covid-19 pandemic. The evolution of digital payment
platforms and increasing consumers’ preference towards e-payment secures a
bright future for online payment in Nepal.
What is Digital Payment?
Digital Payment is definitely growing in
popularity and is becoming a trend these days. The reason is simple –
convenience. In the era when businesses are shifting online, why not
transactions!
Major Use of Digital Payment System in
Nepal
You can find QR codes in various good and
service sectors like departmental stores and small shops, and many banks and
financial institutes (BFIs). You can make payments in supermarkets via a QR
code scanner using a digital wallet. Local vendors and shops are also using QR
codes for quick payment. Fruits and vegetable markets also feature digital
payments for grocery shopping.
According to a report by the Nepal Rastra
Bank, the number of digital transactions from mid-December 2020 to mid-January
2021 was 372,176. Similarly, the transactional amount was Rs 1.245 billion. The
next month, the number of transactions increased to 535,790 and the amount to
Rs 1.712 billion, suggesting a clear rise in the use of digital payment.
Future and Challenges
Switching to any e-payment services like QR
code will be a long-running process. PSOs like eSewa have been offering QR
payment services without charging any additional fee during transactions to
encourage such platforms. This generation has access to different media that
can raise awareness of digital payment significance, so the numbers of users is
expected to grow in the future rapidly but still not enough to process an
established digital economy. The lack of interoperability is another major
issue for a stable digital payment service.
Conclusion
QR code payment can be a vital factor in
uplifting Nepal’s digital economy. The government giving more priority to
digital payment systems and the central bank to promote this system can be a
head start for QR code payment. The ultimate goal should be offering a one-stop
solution for the consumers to access all sorts of e-payment services, including
QR code payment.
Grammar
A. Look at the following questions and say what type of questions they
are.
a. Do you like this country?
Yes/No 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?
Choice Question
f. She sent him an invitation, didn’t she?
Tag Question
g. Could you tell me if the doctor is available?
Indirect Question
h. Do you know how tall they are?
Yes/No 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
part? – 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.
Whom does Romeo love?
b. My mother made a delicious bread yesterday.
What did your mother make yesterday?
c. The music was composed by Narayan Gopal.
Who composed the music?
d. I’m looking for a new book.
What are you looking for?
e. They were talking about the new movie.
What were they talking about?
f. She got the idea from a story.
Where did she get the idea?
g. She always goes to school on foot.
How does she go to school?
h. She sometimes goes to the cinema.
How often does she go to the cinema?
i. They have been waiting for three years.
How long have they been waiting for?
D. Change these indirect questions into direct ones.
a. Could you tell me where the Market Street is?
Where is Market Street?
b. I’m longing to know what time the bank opens.
What time does the bank open?
c. Do you have any idea how he’s managed to get in shape so quickly?
How has he managed to get in shape so quickly?
d. I’d like to know how much this motorcycle costs these days.
How much does this motorcycle cost these days?
e. Did you notice if he had left the car in the park?
Had he left the car in the park?
f. Have you found out if the train has left?
Has the train left?
g. I was wondering if they speak English well.
Could they speak English well?
h. Would you tell us how we can get to the post office from here?
How can we get to the post office from here?
i. Do you remember if I locked the front door?
Did I lock the front door?
Working with words
A. Match the words in column ‘A’ with their meanings in column ‘B’.
a. prominent
vi. 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
ix. lasting over a period of time; durable
h. robust
v. strong and unlikely to break or fall
B. There are different abbreviations used in the text. With the help of the internet, find their full forms.
QR :
Quick Response
ISO :
International Organization for Standardization
IEC :
International Electrotechnical Commission
URLs : Uniform Resource Locators
EMVCo : Europay, Mastercard, and Visa Company
PIN :
Personal Identification Number
C. Pronounce the following words and identify the vowel sounds /ʊ/ and
/u:/. You can take help from a dictionary.
/ʊ/
put, push, hood, full, bull, book, foot, look,
hook, cook, should, soot, stood
/u:/
boom, fool, food, loose, boost, groom, moon,
soon, room, soothe,
Comprehension
A. Decide whether these statements are True or False. Write NOT GIVEN if you do not find the information.
a. The system of QR codes was first launched
in South Asia. True
b. The standards of payments via the QR codes
were approved by EMVCo. True
c. All sorts of businesses are aided by the QR
code payments. False
d. There are several models to the QR code
payment service. True
e. In countries like Nepal, the QR code paying
system is a complete fiasco. False
f. The QR codes payment service is not
applicable to small business. False
B. Answer the following questions.
a. How can one pay with QR codes paying system?
One can pay with QR codes paying system either by
presenting a QR code for scanning to the merchant, or by scanning at the
merchant’s QR code.
b. How did Tencent and Alibaba companies utilise the QR code services at
the beginning?
At the beginning, Tencent utilized the QR code
services in its social media WeChat for friending and Alibaba utilized to
facilate Alipay payment services.
c. How do the QR code based payment services launched by Visa and
Mastercard mitigate payment problems?
The QR code based payment services launched by Visa
and Mastercard mitigate payment problems by linking QR code payments to debit
and credit card accounts.
d. Why do we need a scheme operator to run the QR code based payment
system?
We need a scheme operator 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?
A suitable, secured scheme operator is required to
use the QR code services.
f. How can security concerns related to payment via QR codes be
addressed?
Security concerns related to payment via QR codes
can be addressed by the use of merchant IDs, registration and real-time
notification of payment.
g. Who should be more careful: customer or the merchant in terms of
payment issues? Why?
A customer should be more careful in terms of
payment issues because it would be better to stop the fraud happening in the
first place rather than trying to correct it later by the merchant.
h. Do you think the QR code based payment can be a panacea for all sorts
of payment problems? Why?
Yes, I think the QR code based payment can be a
panacea for all sorts of payment problems because it is fast, secure and easy
to create.
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? Discuss.
The Covid-19 pandemic has immensely boosted the
Scan and Pay service through the QR code in Nepal too. People being concerned
with their hygiene are supporting the contactless payment system. Evolving
digital payment service providers like Fonepay, IMEPay, Khalti, QPay, and
SmartQR also encourage QR code payment by offering their users Scan and Pay
services.
QR code payment systems can play an impactful
role in changing informal sectors into the formal economy. However, Nepal needs
to tackle challenges in many infrastructural and behavioural traits before
reaching the full potential of e-payment. The lack of interoperability is
another major issue for a stable digital payment service. Rapid growth in
several PSOs and PSPs may result in an imbalance in the ecosystem of the
digital economy. To avoid this hurdle, a unified payment switch is necessary.
QR code payment can be a vital factor in
uplifting Nepal’s digital economy. The government giving more priority to
digital payment systems and the central bank to promote this system can be a
head start for QR code payment.
Mass awareness campaigns and promotional
events can also influence this transition. Infrastructural development like
high-speed internet connection and wider user accessibility must be considered.
Payment service providers, payment service operators, bank and financial
institutes, and traders should work together to bring interoperability to their
digital payment services.
b. The payments landscape is shifting gears from cash to digital mode.
Digital payment brings ease and convenience to the consumer. Is it possible to
apply such cashless methods in payments in Nepal? Discuss.
It’s hard but not impossible to apply Digital
payment system in Nepal. Nepal needs to tackle challenges in many
infrastructural and behavioural traits before reaching the full potential of
e-payment. The number of internet users is impressively growing but still not
enough to process an established digital economy.
QR code payment systems can play an impactful
role in changing informal sectors into the formal economy. The government
giving more priority to digital payment systems and the central bank to promote
this system can be a head start for QR code payment.
Mass awareness campaigns and promotional
events can also influence this transition. Infrastructural development like
high-speed internet connection and wider user accessibility must be considered.
Payment service providers, payment service operators, bank and financial
institutes, and traders should work together to bring interoperability to their
digital payment services.
The ultimate goal should be offering a
one-stop solution for the consumers to access all sorts of e-payment services,
including QR code payment.
Writing
A. Punctuate this paragraph with appropriate punctuation marks.
It was a cold freezing day, it had been snowing all
day in New York. Mr. Tim cooked and I went outside to play in the snow. We had
not seen much snow since we went skiing in Sweden last year. Mrs. Smith was
right because she had said that we’d see snow. The next day we had really a
wonderful time there, didn’t we?
B. Write a news article about digital payment systems in Nepal.
Digital
Payment Systems in Nepal
Digital payment is gaining momentum due to social
distancing during the Covid-19 pandemic. The evolution of digital payment
platforms and increasing consumers’ preference towards e-payment secures a
bright future for online payment in Nepal.
What is Digital Payment?
Digital Payment is definitely growing in
popularity and is becoming a trend these days. The reason is simple –
convenience. In the era when businesses are shifting online, why not
transactions!
Major Use of Digital Payment System in
Nepal
You can find QR codes in various good and
service sectors like departmental stores and small shops, and many banks and
financial institutes (BFIs). You can make payments in supermarkets via a QR
code scanner using a digital wallet. Local vendors and shops are also using QR
codes for quick payment. Fruits and vegetable markets also feature digital
payments for grocery shopping.
According to a report by the Nepal Rastra
Bank, the number of digital transactions from mid-December 2020 to mid-January
2021 was 372,176. Similarly, the transactional amount was Rs 1.245 billion. The
next month, the number of transactions increased to 535,790 and the amount to
Rs 1.712 billion, suggesting a clear rise in the use of digital payment.
Future and Challenges
Switching to any e-payment services like QR
code will be a long-running process. PSOs like eSewa have been offering QR
payment services without charging any additional fee during transactions to
encourage such platforms. This generation has access to different media that
can raise awareness of digital payment significance, so the numbers of users is
expected to grow in the future rapidly but still not enough to process an
established digital economy. The lack of interoperability is another major
issue for a stable digital payment service.
Conclusion
QR code payment can be a vital factor in
uplifting Nepal’s digital economy. The government giving more priority to
digital payment systems and the central bank to promote this system can be a
head start for QR code payment. The ultimate goal should be offering a one-stop
solution for the consumers to access all sorts of e-payment services, including
QR code payment.
Grammar
A. Look at the following questions and say what type of questions they are.
a. Do you like this country?
Yes/No 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?
Choice Question
f. She sent him an invitation, didn’t she?
Tag Question
g. Could you tell me if the doctor is available?
Indirect Question
h. Do you know how tall they are?
Yes/No 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
part? – 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.
Whom does Romeo love?
b. My mother made a delicious bread yesterday.
What did your mother make yesterday?
c. The music was composed by Narayan Gopal.
Who composed the music?
d. I’m looking for a new book.
What are you looking for?
e. They were talking about the new movie.
What were they talking about?
f. She got the idea from a story.
Where did she get the idea?
g. She always goes to school on foot.
How does she go to school?
h. She sometimes goes to the cinema.
How often does she go to the cinema?
i. They have been waiting for three years.
How long have they been waiting for?
D. Change these indirect questions into direct ones.
a. Could you tell me where the Market Street is?
Where is Market Street?
b. I’m longing to know what time the bank opens.
What time does the bank open?
c. Do you have any idea how he’s managed to get in shape so quickly?
How has he managed to get in shape so quickly?
d. I’d like to know how much this motorcycle costs these days.
How much does this motorcycle cost these days?
e. Did you notice if he had left the car in the park?
Had he left the car in the park?
f. Have you found out if the train has left?
Has the train left?
g. I was wondering if they speak English well.
Could they speak English well?
h. Would you tell us how we can get to the post office from here?
How can we get to the post office from here?
i. Do you remember if I locked the front door?
Did I lock the front door?
