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Cashless Society
Business English
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 Learning Objectives

After this lesson, students will be able to:

• discover vocabulary surrounding the “Going cashless” topic.

• complete cloze passage based on the played recording.
• recall the use of phrasal verbs in the previous lesson.
• apply the learned grammatical feature (phrasal verbs in a working/business context)
correctly.

2 Business English – Cashless Society www.cakap.com

 Warm Up
Continue the word with another word started with the last letter of the previous word.
Mention as many words as possible.

s… another word that

cashless starts with s, society.
Now, your turn.

cashless
society
year
r…
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 Money Evolution
Money evolution
Look at the pictures below and discuss how money and payment methods have changed over
the years. How do you think payment methods will be in the next 20 years?

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 Vocabulary Build Up
Match each sentence below with the correct type of money and payment method
on the right

1. a method of electronic funds transfer from one person or entity to another.

2. a digital asset designed to work as a medium of exchange that uses strong
cryptography to secure financial transactions, control the creation of additional
units, and verify the transfer of assets.
a. Stored-value card
3. a financial transaction in which one person (or company) withdraws funds from b. Direct debit
another person's bank account. c. Bank transfer
4. refers to an electronic device, online service, or software program that allows an
d. Digital wallet
one party to make electronic transactions with another party bartering digital
currency units for goods and services.
e. Cryptocurrency
5. a payment card with a monetary value stored on the card itself, not in an external
account maintained by a financial institution.

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 Vocabulary Build Up: Answer Key
Match each sentence below with the correct type of money and payment method
on the right. Check the answers below.

1. a method of electronic funds transfer from one person or entity to another. C - bank transfer
2. a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial
transactions, control the creation of additional units, and verify the transfer of assets. E - cryptocurrency
3. a financial transaction in which one person (or company) withdraws funds from another person's bank
account. B - direct debit
4. refers to an electronic device, online service, or software program that allows an one party to make
electronic transactions with another party bartering digital currency units for goods and services. D - digital
wallet
5. a payment card with a monetary value stored on the card itself, not in an external account maintained by a
financial institution. A - stored-value card

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 Vocabulary Build Up
Complete the following cloze sentences with the correct option provided on the right

1. ___________ banks are a great tool for teaching children about the value of money
and saving.
a. contactless
2. I used to work in a local ___________ of a large bank on High Street. b. tap
3. A __________ is a bank employee who deals directly with customers. In some places, c. teller
this employee is known as a cashier.
d. debit
4. If you’re ready to pay, you need to __________ your card here.
5. This credit card allows you to ___________ up to £200 a day from any ATM.
e. piggy
6. Visa launched its first _____________ card in June 2005 and people started paying f. branch
without using their PINs. g. withdraw
7. There are very high bank _______________ for this sort of account.
h. charges
8. People ______________ billions of dollars in banks every single day.

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 Vocabulary Build Up: Answer Key
Complete the following cloze sentences with the correct option provided on the right.
Check the answers below.

1. Piggy banks are a great tool for teaching children about the value of money and
saving.
a. contactless
2. I used to work in a local branch of a large bank on High Street. b. tap
3. A teller is a bank employee who deals directly with customers. In some places, this c. teller
employee is known as a cashier.
d. debit
4. If you’re ready to pay, you need to tap your card here.
5. This credit card allows you to withdraw up to £200 a day from any ATM.
e. piggy
6. Visa launched its first contactless card in June 2005 and people started paying f. branch
without using their PINs. g. withdraw
7. There are very high bank charges for this sort of account.
h. charges
8. People deposit billions of dollars in banks every single day.

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 Speaking
Let’s contemplate!

What is the value of money

if it doesn’t physically exist?
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 Listening
Listening 29.1 (Click the headphones icon for the audio access)
Cashless society
Listen to this recording and complete the following text.

India's Prime (1) Narendra Modi has outlined his controversial plan to make India a
_______ (2) society. Indians are already up in arms following his recent and sudden (3)
to ban the old 500 and 1,000 rupee banknotes. They ceased to be legal tender in India from
the 9th of November, although the old (4) note was (5) by an updated version.
The government claimed the move was an effort to stop the banknotes being used to
(6) terrorism, as well as being a crackdown on counterfeit money in India. The ban means
80 per cent of the country’s (7) has been (8) from circulation and business has
been brought to a virtual standstill. It is very (9) among most Indians.

Source: breakingnewsenglish

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 Listening: Answer Key
Listening 29.1 (Click the headphones icon for the audio access)
Cashless society
Listen to this recording and complete the following text. Check the answers below.

India's Prime Minister Narendra Modi has outlined his controversial plan to make India a
cashless society. Indians are already up in arms following his recent and sudden decision
to ban the old 500 and 1,000 rupee banknotes. They ceased to be legal tender in India from
the 9th of November, although the old 500-rupee note was replaced by an updated version.
The government claimed the move was an effort to stop the banknotes being used to fund
terrorism, as well as being a crackdown on counterfeit money in India. The ban means 80
per cent of the country's currency has been withdrawn from circulation and business has
been brought to a virtual standstill. It is very unpopular among most Indians.

11 Business English – Cashless Society www.cakap.com

 Grammar Brush-Up

Let’s review your knowledge on phrasal verbs

Complete the following cloze sentences with the correct p h r a s a l v e r b s

1. Lack of funding threatens the management to ________ the museum.

2. The burglars disabled the alarm and used a glass cutter to ________ the
a. looking forward to
house.
b. noted down
3. That Chicago businessman tried to _______ by opening new restaurants c. break into
and trying new ventures. d. step down
4. The CEO had to ________ on account of poor performance. e. close down

5. Her career in finance finally began to ________. f. branch out

g. take off
6. I’m so ________ our new project. I really can’t wait.
h. carry on
7. I __________ the time and place of the meeting.
8. Let's __________ this discussion at some other time.

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 Grammar Brush-Up: Answer Key
Let’s review your knowledge on phrasal verbs
Complete the following cloze sentences with the correct phrasal verbs.
Check the answers below.

1. Lack of funding threatens the management to close down the museum.

2. The burglars disabled the alarm and used a glass cutter to break into the
a. looking forward to
house.
b. noted down
3. That Chicago businessman tried to branch out by opening new c. break into
restaurants and trying new ventures. d. step down
4. The CEO had to step down on account of poor performance. e. close down

5. Her career in finance finally began to take off. f. branch out

g. take off
6. I’m so looking forward to our new project. I really can’t wait.
h. carry on
7. I noted down the time and place of the meeting.
8. Let's carry on this discussion at some other time.

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 Grammar Bits
Phrasal verbs
What is phrasal verb?
Phrasal verb is a verb plus a preposition or adverb which creates a meaning different from the original verb.
1• Take up : Fill a particular amount of space or time 6• Get on : Continue or start doing something
(V) (Adv) (V) (Prep)
These files take up a lot of disk space. She told us to get on with our work.
2• Keep up with : Follow. 7 Weigh up : Consider
(V) (Adv) (Prep) (V) (Adv)
We try to keep up with what’s happening about financial news. You should weigh up the advantages and disadvantages
of resigning your job.
3• Back up : Make a copy of information
(V) (Adv) 8 • Set up : Start a business
It’s a good idea to back up your files onto a memory stick. (V) (Adv)

4 Carry
• out : Do and complete a task The group plans to set up an import business.
(V) (Adv) 9 • Go through : Experience something bad
The building work was carried out by a local contractor. (V) (Prep)
5• Come up : Happen or arise We can’t really imagine what our company’s going
(V) (Adv) through.
I’m going to have to cancel our meeting – something’s
come up.
Source: https://www.eslbuzz.com/40-useful-phrasal-verbs-for-business-and-work-in-english/

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 Grammar Exercise
Complete the following cloze sentences with the correct phrasal verbs

1. Supply of the goods is failing to ___________ demand.

2. I've got to go - something has just ________ at home and I'm needed there. a. carrying out

3. Don't blame me, I'm only _________ my orders/instructions. b. come up

c. went through
4. He ________ a difficult time because he lost his job.
d. backed up
5. Have you _________ the files? Just in case the computer crashes.
e. setting up
6. She wants to repay the committee for the help she received when ________ in
f. keep up with
business.
g. taken up
7. My day is completely _______ with meetings. h. get on
8. You've got to put it behind you and ________ with your life. i. weighing up
9. I'm _________ my options before I decide to apply for the job.

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 Grammar Exercise: Answer Key
Complete the following cloze sentences with the correct phrasal verbs.
Check the answers below.

1. Supply of the goods is failing to keep up with demand.

2. I've got to go - something has just come up at home and I'm needed there. a. carrying out

3. Don't blame me, I'm only carrying out my orders/instructions. b. come up

c. went through
4. He went through a difficult time because he lost his job.
d. backed up
5. Have you backed up the files? Just in case the computer crashes.
e. setting up
6. She wants to repay the committee for the help she received when setting up in
f. keep up with
business.
g. taken up
7. My day is completely taken up with meetings. h. get on
8. You've got to put it behind you and get on with your life. i. weighing up
9. I'm weighing up my options before I decide to apply for the job.

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 Speaking
Role play
Act out the following roles with your teacher or the other participants

Person 1 Include the following points

You only use e-money/digital wallet. You in your conversation:
think it is convenient and easy to use.
✓ convenience
You see no problem using it.
✓ ease-of-use
✓ data tracking
Person 2
You only use cash. You refuse to use anything ✓ security
else. You think there are security issues with ✓ old-fashioned
e-money/digital wallet.

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 Idiomatic Expressions
Here are some idiomatic expressions using economic metaphors and practice using them in sentences

Blank check
To write someone a blank check with unlimited funding, no constraints, and complete freedom of control.
• The company was having a difficult time retaining good employees so the manager was given a blank check to incre
ase salary and restructure his department.

Become pushed for cash

To suddenly have only a small or limited amount of money available.
• I always seem to become pushed for cash in the days leading up to payday.

Cash on the barrel

Payment at the time of service or purchase.
• Well, I guess I'm not replacing my couch right now because the furniture store require
s cash on the barrel. I'll have to come back after my next pay check.

At a premium
At a high price; priced high because of something special
• This new sports car sells at a premium because so many people want to buy it.

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 Pronunciation Drill
Articulate the following words with correct pronunciation and clear enunciation

The words The phonetic symbols

method /ˈmeθ.əd/

withdraw /wɪðˈdrɔː/

deposit /dɪˈpɒz.ɪt/

finance /ˈfaɪ.næns/

ease /iːz/

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 Learning Reflection
Think of today’s learning session and answer the following questions

What new knowledge have you obtained today?

(Could be a new concept(s) or new vocabulary items)
Own your
learning! What do you think you can do with what you have learnt today?

What’s your favorite part of today’s learning topic?

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