Unit 21. The Cashless Society
Task 1. Match the following English words and phrases with their Russian equivalents:
1) cashless society |
a) первостепенная важность |
2) consumer confidence |
b) оценка риска |
3) tax evasion |
c) охватить технологии |
4) to assess the impact |
d) общество без наличных денег |
5) cash erosion |
e) уклонение от уплаты налогов |
6) means of tender |
f) безопасность проведения |
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сделки |
7) transaction-processing |
g) оценить влияние |
security |
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8) paramount |
h) доверие покупателя |
9) risk assessment |
i) ослабление наличных денег |
10) to embrace technology |
j) платежное средство |
Task 2. Read the text and get ready to speak about the advantages and disadvantages of cashless society.
Some experts believe that cashless society will bring huge benefits to society, but there are many challenges for the financial industry to
overcome first.
While the cost of cash and controlling financial crime are clear drivers towards a cashless society, developing the technology and winning consumer confidence are major challenges. The financial industry, governments and ATM producers need to discuss these challenges and develop the conditions to make a cashless society possible.
A true cashless society is still some way off and it can only be achieved as a result of cash erosion by more convenient methods of purchase.
Cash provides a globally accepted, convenient, instantly recognisable and tactile means of tender, while providing anonymity for the end user. Additionally, many people can only use cash due to their age or because they do not have access to a bank account.
European Central Bank, Federal Reserve and Bank of England statistics clearly show a year-on-year increase in the cash in circulation,
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demonstrating consumer confidence. However, cash also carries the problems associated with anonymity, such as tax evasion, the black market and criminal and terrorist activity.
By adding value to a card, the criminal world will try to exploit weaknesses in the technology. To mitigate potential security issues, the technology should be introduced in conjunction with the financial industry, which has experience of the necessary controls, monitoring and audit for transaction-processing security.
International criminal organisations target three main regions - the UK, Europe and the US. By introducing e-currency, international policing can focus on one main technology across all borders. It is therefore paramount that the introduction of cashless technology is based on an international risk assessment and is not driven solely by competition between vendors.
The commercial sector tends to move faster to embrace technology than other sectors. Perhaps within the ATM environment, independent ATM deployers may be more inclined to adopt a new business model for increasing transaction flow by introducing card top-up for low-value transactions.
The main obstacles to introducing a globally accepted cashless concept will be the challenges of converting a technology innovation into a secure customer-accepted reality and providing end-to-end risk assessment [18].
Task 3. Answer the questions:
1.What are major challenges of cashless society?
2.How can cashless society be achieved?
3.Why do many people use only cash?
4.What kind of problems does cash carry?
5.What should be done to mitigate potential security issues?
6.Is it possible to introduce e-currency without international risk assessment?
7.What are the main obstacles to introducing a globally accepted cashless concept?
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Task 4. Find in the text synonyms and antonyms for the following words.
ANTONYMS |
SYNONYMS |
- refuse (v.) |
- community (n.) |
- cozy (adj.) |
- represent (v.) |
- losing( adj.) |
- value (v.) |
- strength (n.) |
- impression (n.) |
- domestic( adj.) |
- immediately (adv.) |
- dangerous( adj.) |
- purpose (n.) |
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Task 5. Match the following words from the text with their definitions:
1) eminence |
a) that can be identified, acknowl- |
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edged |
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2) tactile |
b) form of money which must be |
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accepted in payment of a debt |
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3) recognizable |
c) state of being anonymous |
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4) statistics |
d) state of being famous or |
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distinguished; |
superiority |
of |
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position |
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5) tender |
e) to make less severe, violent or |
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painful |
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6) anonymity |
f) to treat somebody badly to get |
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what you want |
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7) to exploit |
g) numbers that give information |
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about something |
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8) to mitigate |
h) sense of touch |
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Task 6. Complete the sentences using the words from the text in the correct form: vendor, to exploit, evasion, weakness, impact, instantly, to mitigate
1.All her answers to my questions were just …. .
2.A lot of employers ….. foreign illegal workers, making them working
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long hours for degradingly low payment.
3.His talent of a ….. made him really successful in a short time.
4.The lawyer was trying to ….. the circumstances of the crime.
5.The ….. of new ideas on discontented students was impressive.
6.We all have our little ….. .
7.The ambulance arrived at the place of the accident …… .
Task 7. Translate the following text into English using the dictionary:
Совершенствование технологий
Производители банкоматов продолжают вкладывать средства в исследования и разработки и теперь могут предоставлять широкий спектр функций. Многие из них зависят от возможностей коммутационной сети, и для их развития потребуются совместные с поставщиком сети.
С многофункциональными картами, которые также проходят испытательный срок, все компоненты доступны для общества без наличных денег. Финансовому сектору также необходимо обсудить вопрос о том, использовать ли одиночные многофункциональные банкоматы или различные отдельные банкоматы с целевыми функциями для операций с наличными, снятие и внесения и других безналичных функций.
Отраслевая стратегия самообслуживания также является ключевым фактором при разработке и производстве банкоматов. Благодаря стратегии, которой необходимо следовать, производители могли бы лучше сосредоточиться на своих исследованиях, разработках и производстве, а также сократить линии продукции и затраты на производство.
Основным требованием для общества без наличных денег будет удобная многофункциональная карта, обеспечивающая бесконтактное касание и доступ к дешевым транзакциям, вместе с дебетовым чипом и ПИН-кодом для дорогостоящих транзакций. Эта карта станет катализатором движения к сокращению наличных средств. циркуляция, которая должна идти рука об руку с безопасной технологией для обеспечения удобной зарядки и использования.
Уровень инвестиций в инфраструктуру и образование для
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банков, предприятий розничной торговли и клиентов будет препятствовать переходу к обществу без наличных денег во многих развивающихся странах.
Unit 22. Women in Business
Task 1. Match the following English words and phrases with their Russian equivalents:
1) transition years |
a) племенная война |
2) to give birth |
b) последующий, вытекающий |
3) tribal warfare |
c) держаться незаметно, не привле- |
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кать к себе внимания |
4) ensuing |
d) значительная роль |
5) to compile |
e) явный, очевидный |
6) perception |
f) переходные годы |
7) significant role |
g) восприятие, осознание, |
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понимание |
8) visible |
h) дать начало |
9) to keep a lower profile |
i) составлять |
Task 2. Read the text to find the answers to the following questions.
1.What rules over the business world today?
2.How many women are there in a recent list of the most influential ones?
3.What role are women playing in most of Russian businesses?
4.Do Russian women often reach high company positions?
5.Why do they prefer to keep a lower profile?
Women: the hidden face of Russian business
Since the end of the XXth century, business in Russia has been largely dominated by men. The chaotic transition years that gave birth to the country's market economy in the 1990's were ruled over by masculine tribal warfare, and the ensuing oligarch club which rules over the business world today is very much "men only."
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