1 . How Do We Improve the Experience of Global Payment?

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1. What is the function of “When you need to make cross-border remittance” section at the very beginning?

A．To tell readers the trouble they have to encounter abroad.

B．To make a comparison with the advantages of Epay.

C．To show a one-stop global payment solution.

D．To remind people not to use digital payments.

2. Which of the followings can be added to the blank covered by a question mark in the ”One-stop global payment solution“ section?

A．Deposit & withdrawal

B．Account removal

C．Money input

D．Payment cooperation

3. Which of the following is TRUE according to the passage?

A．We can transfer money easily from Alipay(Zhifubao)to Epay.

B．Money can be deposited in Epay free of charge with no exchange rate.

C．Americans can have access to Epay services wherever they go in the world.

D．Epay payment gateway can give users access to various money services.

2 . Does Cashless Society Discriminate Against the Poor and Elderly?

The increasing prevalence of cashless payments, including mobile phone payments, digital payments and credit cards, in the world means that cash circulation is dropping worldwide. In major cities in China, over 90 percent of people use WeChat and Alipay as their primary payment method, ahead of cash. In the US, the use of cash is just 16% of total transactions and is expected to decline as cards growth accelerates.

    1     Compared with the poor, the elderly, in fact, are comparatively less able to manage cashless payment methods. If local authorities or utility companies do not support cash, the elderly may face hurdles to pay for basic services.

In some countries, retailers may charge more for accepting cash or refuse cash payments altogether.     2     For those who do not qualify for credit cards, or cannot afford mobile payment methods, they are excluded from these retailers.

In addition to being locked out of retailers, low-income people who participate in cashless payments options face severe punishments for overdraft (透支) fees from their savings accounts and are actually more likely to be unqualified to receive credit cards who reward wealthy users for money spent.     3    

Thus, there is a population who require cash and need to be addressed by retailers and companies. Governments can protect financial inclusion for people who are unable to participate digitally. In the US, The Cashless Retailers Prohibition Act of 2018 would make it illegal for restaurants and retailers not to accept cash or charge a different price to customers depending on the type of payment they use.     4     In Singapore, the government holds classes to help its senior population learn how to use digital payments such as paying in store using QR codes and topping up travel cards with debit cards.

As society moves towards cashless payments, to ensure that all groups in society are able to fully participate in the changing landscape, governments should introduce laws to protect cash acceptance and be mindful of impact on disadvantaged groups when encouraging fintech industry.

A．People who rely on cash subsidize (补贴) wealthier people who use credit cards.

B．Traditionally, possessing a bank account is required for participation in digital services.

C．Education can also play a part in helping the elderly adapt to digital payments.

D．Groups without the financial ability or adoption ability to participate in cashless payments risk being put at a disadvantage.

E．Two populations who are less likely to participate in cashless payments are the elderly and the poor.

F．In the US, many restaurants refuse to accept cash due to combination of incentives from credit card networks and the desire to create a frictionless experience for high-value customers.

4 . WeChat, one of the world’s most popular mobile apps and social networks, brought home iF Gold Award for its smart retail innovation, Scan & Go. It is the first ever Chinese product to win4 gold in the iF Service Design category.

Established in 1953, the German-based iF Design Award has always been known for its “Independent, Rigorous(细致的) and Reliable” standards.

Scan & Go enables shoppers at retail stores to turn their mobile phone into a virtual checkout counter. When shopping, customers use their mobile phones to scan product barcodes(条形码), view product information, get discounts, complete self-checkout, and pay directly within the app via WeChat Pay. There is no queuing up at the cash register.

According to statistics, sales during peak hours in traditional supermarkets account for 60% of total turnover, and on average customers spend three to five minutes on queueing and payment during peak hours. With Scan & Go, customers no longer have to queue, and the payment time is shortened to one minute.

In order to realize queue-less purchasing, the WeChat team greatly optimizes retailers’ in-store customer handling efficiency during peak hours, and enables overall management of the consumer traffic flow. By introducing dedicated lanes for Scan & Go, supermarkets have achieved over a five-fold increase in converting(转变) digital members within two months.

In addition to improving retailers’ checkout efficiency and providing customers with a better shopping experience, Scan & Go also combines promotion and marketing modes through Mini Programs, to help increase sales. It helps retailers(零售商) to link the online and offline aspects of their business, and has become the standard tool in China for merchants to realize digital transformation. Scan & Go is now widely used by retailers in China.

1. What does the third paragraph mainly tell us?

A．The convenience of Scan & Go.

B．The use of a virtual checkout counter.

C．Ways to get discounts from retailers.

D．Methods of scanning product barcodes.

2. One of the advantages of Scan & Go is that customers

A．can buy more items

B．can save a lot of money

C．don’t have to pay for what they buy

D．spend less time to pay for what they buy

3. What can retailers do by combining promotion and marketing modes?

A．They can sell more goods.

B．They can reduce the discounts.

C．They can create more Mini Programs.

D．They can make their goods more standard.

4. What is the author’s attitude toward Scan & Go?

A．Doubtful.	B．Positive.
C．Subjective.	D．Negative.