24 UniT 02 | Big bucks or no dough? Read what a finance expert has to say about how Aisha, Lee and Emine manage their money. First, circle the correct expressions, then mark each sentence with A, L or E depending on who it refers to (sometimes it refers to more than one person). 1 There is evidence of very careful spending / budgeting and a reliance on money / cash to meet expenses / interest payments. 2 Although it’s very popular among young people, any form of electronic payment / payment by credit card encourages overspending / loans or making mistakes. 3 Money payments / transfers from expatriates are a major source of income / salary for families in the Global South, and overdrafts / online transactions make this process easy. 4 Digital transfers / Mobile payment applications help unbanked people to store money digitally without conventional current accounts / credit cards. 5 The sums being paid / transferred through mobile / loan applications have increased because users don’t pay any charges / interest. LANGUAGE 4 Work with a partner and discuss the questions below, then share your ideas with another pair. 1 Which of the three different ways of managing money comes closest to your own? 2 Which of the payment methods mentioned in 4 do you use regularly, which ones have you never used? Why? 3 Do you budget your money and keep a record of your expenses? Why?/Why not? SPEAKING 5 Different banks offer different conditions with their cards, which is why it’s difficult to translate the Austrian term Bankomatkarte into English. Cash card, debit card or ATM card are the best translations. Read the text about cashless payment in Kenya. Some words are missing. Choose the correct word (A–P) for each gap (1–13). There are two extra words that you should not use. Write your answers in the boxes provided. The first one (0) has been done for you. LANGUAGE IN USE 6 How Kenya became a leader in mobile money For a while, paying for a taxi ride using your mobile phone was easier in Nairobi than it was in New York, thanks to Kenya’s (0) -money system M-Pesa. Launched by Safaricom, the country’s largest mobile-network operator, M-Pesa lets people transfer (1) using their phones. It is one of the most successful schemes of its type on earth, although digibanks, which do everything online, are working hard to access the market. M-Pesa was originally designed as a system to allow microfinance-loan (2) to be made by phone, reducing the (3) associated with handling cash and thus making possible lower (4) rates. But after pilot testing it was broadened to become a general money- (5) scheme. Once you have signed up, you pay money into the system by handing cash to one of Safaricom’s agents, who (6) the money to your M-Pesa account. You (7) money by visiting another agent, who checks that you have sufficient funds before debiting your (8) and handing over the cash. You can also transfer money to others: sending money is like sending a text. Cash can thus be sent from one place to another more quickly, safely and easily than taking bundles of (9) in person, or asking others to carry it for you. This is particularly useful in a country where many workers in cities send money back home to their families in rural villages far away from traditional banks. Electronic transfers save people time, freeing them to do other, more productive things instead. M-Pesa has been extended to offer loans, insurance and (10) products, and can also be used to pay out (11) or settle bills, which saves users further time and money (because they Nur zu Prüfzwecken – Eigentum des Verlags öbv
RkJQdWJsaXNoZXIy ODE3MDE=