Friday, October 8, 2021

Grade XII Compulsory English Note | Language Development | Unit- 6 QR Code | Money and Economy

Grade XII Compulsory English Note | Language Development | Unit- 6 QR Code | Money and Economy

Unit: 6

QR Code

Working with words

A. Match the words with their meanings.

a. prominent- ix. standing out so as to be seen easily, conspicuous

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- /buːm/

Fool- /fuːl/

Food- /fuːd/

Hood- /hʊd/

loose - /luːs/v

full- /fʊl/

bull- /bʊl/

book- /bʊk/

foot- /fʊt/

boost- /buːst/

vgroom- /ɡruːm/

moon- /muːn/

soon- /suːn/

look- /lʊk/

hook- /hʊk/

cook- /kʊk/

should- /ʃʊd/

soot- /sʊt/

room- /ruːm/, /rʊm/

Soothe- /suːð/

stood - /stʊd/


A. True or False or NOT GIVEN

a. The system of QR 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 ............ QR codes paying system?

... Answer:
One can pay with QR codes paying system by scanning a QR code displayed on a smart phone.

b. How ............ Tencent and Alibaba companies ............the QR code services at the beginning?

... Answer:
At the beginning Tencent and Alibaba companies utilised the QR code services by adopting proprietary standards developed by EMVCo in 2017, for payments.

c. How ............ Visa and Mastercard mitigate payment problems?

... Answer:
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............ the QR code based payment system?

... Answer:
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 ............ to use the QR codes services?

... Answer:
To use the QR codes services, customers download their bank’s mobile banking app onto their smartphone and personalize it with their account details. There is no requirement for specific enrolment to use QR codes.

f. How can ............ payment via QR codes be addressed?

... Answer:
Security concerns related to payment via QR codes can be addressed through the use of merchant IDs, registration and real-time notification of payment.

g. Who ............ in terms of payment issues? Why?

... Answer:
Customer should be more careful in terms of payment issues because if the app displayed the merchant’s name, he or 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 ............ all sorts of payment problems? Why?

... Answer:
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 requires 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? Discuss.

QR code has revolutionized digital payment services all over Nepal. All kinds of traders from supermarkets to groceries, restaurants, and local vendors, are accepting QR code payments these days. Consumers can make payments by scanning the QR code, which they find to be the easiest transaction.

Infrastructural development like high-speed internet connection and wider user accessibility are required to be considered. Payment service providers, payment service operators, financial institutes, and traders should work together to bring interoperability to their digital payment services. The ultimate aim should be offering a solution for the consumers to access all kinds of e-payment services, including QR code payment.

b. Is it possible to apply such cashless methods in payments in Nepal? Discuss.

QR code payment can be a 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.


B. Write a news article about digital payment systems in Nepal.

Digital Payment Systems in Nepal

By Sudhir Thapa

October 1, Pokhara

In recent years, there has been a great change in technology. This has resulted in new alternatives for people to interact with money. In Nepal, several digital payment methods are being used. Services like ATM cards, mobile banking, internet banking, mobile wallets, and QR payments have permitted banks to reach customers easily and quickly. Technology-aided payment systems are expanding the society's access to digital economy.

Though cashless payment system came to the scene quite some time ago, it had always been struggling to make an impact in the Nepali market. The tough government regulations or the hesitance from the people to switch from the traditional cash payment methods due to trust issues, were the reasons that the cashless payment couldn’t make significant progress for quite a while. But that has changed in the past couple of years with digital payment gaining a remarkable spike in the market.

In the Nepalese market, new digital payment platforms such as Khalti, Fonepay, IMEPay, and ConnectIPS have made an impact, as well as the old undisputed gateway eSewa, putting in substantial efforts. One can say that it has been a joint effort to make this happen.

There are still a lot of improvements to be done for Nepal to go cashless. It is certain that with the improvement of established foundations and the development of new ones, Nepal can flawlessly achieve a cashless economy.

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