Working with words
A. Match the given words with their meanings.
Words
Meanings
a. prominent standing out so as to be seen easily, conspicuous
b. vulnerable exposed to the possibility of being attacked / harmed
c. potentially with the capacity to develop or happen in the future
d. transaction an instance of buying or selling of something
e. initiatives to introduce a new plan or product
f. launched the power or opportunity to do something before others do
g. enduring lasting over a period of time; durable
h. robust strong and unlikely to break or fall
rade 12
B. There are different abbreviations used in the text. With the help of the
internet, find their full forms.
QR
ISO
IEC
URLs
EMVCo
PIN- Personal Identification Number
C. Pronounce the following words and identify the vowel sounds /ʊ/ and /u:/.
You can take help from a dictionary.
put- /pʊt/
push- /pʊʃ/
boom- /bu:m/
fool- /fu:l/
food- /fu:d/
hood- /hʊd/
loose -/ˈluːs/
full, - /fʊll/
bull, - /bʊll/
book, /bʊk/
foot, /fʊt/
boost, /bu:st/
groom,/gru:m/
moon,/mu:n/
soon, /su:n/
look, /lʊk/
hook, /hʊk/
cook, /cʊk/
should, /sʊd/
soot,/sʊt/
room, /rʊm/
soothe, /suːð/
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 QR codes was first launched in South Asia. F
b.
The standards of payments via the QR codes were approved by EMVCo. F
c.
All sorts of businesses are aided by the QR code payments. NG
d.
There are several models to the QR code payment service. F
e.
In countries like Nepal, the QR code paying system is a complete fiasco. NG
f.
The QR codes payment service is not applicable to small business. F
B. Answer the following questions.
a.
How can one pay with QR codes paying system?
One can pay in a face-to-face environment:
either the user presents a QR code for scanning by the merchant, or the merchant
presents a QR code for scanning by the user.
b.
How did Tencent and Alibaba companies utilise the QR code services at
the beginning?
QR codes were adopted as an integration service for Tencent’s social media service WeChat, allowing
face-to-face ‘friending’ by scanning a QR code displayed on a friend’s mobile phone
screen
c.
How do the QR code based payment services launched by Visa and
Mastercard mitigate payment problems?
The Visa and MasterCard have launched multiple services around the word linking
QR code payments to debit and credit card accounts in order to mitigate payment problems.
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?
In general, these services are only relevant to banked customers who also have an
eligible Visa/Mastercard debit or credit card. It is also a requirement that their bank
has enrolled in the scheme, as it needs to be integrated into their mobile banking app.
To use the service, 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 security concerns related to payment via QR codes be addressed?
security concerns related to payment via QR codes be addressed with the use of merchant IDs, registration and real-time notification of payment. Scanning the code simply retrieves the merchant ID, for submission to the scheme/acquirer for payment.
g.
Who should be more careful: customer or the merchant in terms of payment
issues? Why?
The customer should be more careful because
the customer; if the app displayed the merchant’s
name (the “trading as” name, not the company name), the customer 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; in
this way, the app can be sure that the merchant name is correct, that the QR code was
issued by the scheme, and hasn’t been faked
h.
Do you think the QR code based payment can be a panacea for all sorts of
payment problems? Why?
No, I don't think the QR code based payment can be a panacea for all sorts of
payment problems because in the context of poor countries like Nepal where people can't afford smart phone. In addition, not everyone is educated to use QR Code as it requires to insert amount for the payment as well.
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