CHAPTER III
ARGUMENTATIVE TEXT
E-MONEY
A. Listening
Task 1
1. e-commerce platforms
2. deduct
3. e-wallet
4. fumbling
5. e-payments
6. siphoned
7. flinched
8. shun
9. lagging
10. cash-based
Task 2
1. E-commerce platforms: Websites or apps where people can buy and sell goods or services
online. Examples: Amazon, Shopee, Tokopedia.
2. Deduct: To take away an amount (usually money) from a total. Example: The app
automatically deducts the payment from your balance.
3. E-wallet: A digital wallet or app that stores money electronically and is used for online or
contactless payments. Example: GoPay, OVO, and Dana are e-wallets in Indonesia.
4. Fumbling: Struggling to do something with your hands, usually in an awkward or clumsy
way. Example: He was fumbling in his bag to find his wallet.
5. E-payments: Payments made electronically using digital methods instead of cash.
Example: Paying with QR codes, credit cards, or e-wallets.
6. Siphoned: Illegally or secretly taken away (usually money or resources). Example: The
money was siphoned off from the account.
7. Flinched: Made a quick movement because of pain, fear, or surprise. Example: She
flinched when she saw the high credit card bill.
8. Shun: To deliberately avoid or stay away from something or someone. Example: Some
people shun using credit cards to avoid debt.
9. Lagging: Falling behind or not keeping up with others. Example: The region is lagging in
digital payment adoption.
10. Cash-based: Relying mostly on physical money (coins or banknotes) for transactions.
Example: Many small shops in rural areas are still cash-based.
Task 3
1. La Ode and Sri are talking about Sri who uses e-money as a means for online purchasing.
2. Sri’s profession is an influencer
3. She knew some people were familiar with cashless. Sometimes, they use smartphones for
payment with a QR code.
4. a. NO b. NO c. YES d. YES
5.
No Asking Opinions Giving Opinions
1 So, what do you think about their Frankly speaking, I was tempted; Firstly, I
habits? felt it was safer; As far as I know, at that
moment, some people were familiar with
cashless.
2 Do you think these fears are I feared that by moving to electronic
justified? payments and losing the greater friction of
paying with cash, I would end up spending
more.
3 What do you mean Yes, they are. Yet, if we keep using cash, it
seems that we are lagging behind.
B. Speaking
Task 2
1. How is e-money different from traditional forms of payment?
Answer: E-money exists only in digital form and is stored on devices like smartphones or e-
wallets, making it faster and more convenient than using physical cash.
2. What role does e-money play in helping people to manage their finance?
Answer: E-money helps people manage their finances by offering features like budgeting
tools, transaction history, and sometimes even investment options, all in one platform.
3. What is one of the main risks of using e-money, and how can people prevent it?
Answer: One of the main risks is the security of personal data and the possibility of fraud. To
prevent this, users should use platforms with strong security systems and stay alert to scams.
4. What are the advantages of e-money compared to traditional payment methods?
Answer: E-money offers convenience, speed, the ability to pay anytime and anywhere, and
often comes with promos and cashback offers.
5. Why can the existence of e-money trigger hedonistic behavior?
Answer: Because e-money makes spending very easy and fast, it can lead to uncontrolled
spending, causing users to become more wasteful without realizing it.
6. In the end of the podcast, what suggestion is given by the speakers about using e-money?
Answer: The speakers suggest that while e-money is useful, people must use it wisely and
with self-control to avoid negative effects like overspending.
7. FALSE
8. TRUE
9. TRUE
10. TRUE
C. Reading
Task 1
1. What is the main purpose of Bank Indonesia's policy regarding non-cash instruments like
e-money?
➤ To introduce a new payment system that improves efficiency and social welfare by
promoting non-cash transactions.
2. According to the text, how is e-money defined by the Bank for International Settlements?
➤ E-money is stored-value or prepaid products in which a record of the funds is kept on an
electronic device in the consumer’s possession.
3. What are some advantages of using e-money for publishers?
➤ It decreases transaction costs and increases customer satisfaction, which can lead to higher
demand for non-cash payments.
4. How does e-money benefit merchants in terms of transactions?
➤ It minimizes errors, saves time, reduces the need to handle physical cash, and protects
against counterfeit money.
5. Why is e-money considered more secure for customers compared to carrying cash?
➤ Because customers do not need to carry large amounts of money, which is safer, and it
reduces the risk of receiving counterfeit cash.
6. What economic effect does the use of e-money have on the money demand function?
➤ It modifies the money demand function and reduces the amount of cash in circulation,
thereby increasing the speed of money.
7. What are the potential risks of using e-money mentioned in the text?
➤ Risks include loss of the card, card misuse by others, theft, and the fact that the card can be
used without a PIN and is untraceable.
8. Why can e-money be misused easily if the card is lost?
➤ Because it does not require a PIN for transactions, and the card cannot be tracked.
9. In what way does e-money help the Indonesian government regarding money circulation?
➤ It helps reduce the amount of physical money in circulation.
10. Does the essay suggest that the advantages of e-money outweigh its risks? Why or why
not?
➤ Yes, because it emphasizes that e-money is time-saving, practical, and secure despite the
potential risks, especially if users handle it carefully.
Task 2
True or False Questions
1. People feel the same level of emotion when they gain or lose the same amount of money.
➤ False
(They feel more pain losing money than the joy of gaining it.)
2. Classical economics assumes that people behave irrationally.
➤ False
(Classical economics assumes rational behavior; behavioral economics challenges this.)
3. Behavioural economics emerged as a response to psychological studies about how people
really behave with money.
➤ True
4. Drazen Prelec’s study found that credit card users bid significantly less than cash users in a
silent auction.
➤ False
(They actually bid more than twice as much.)
5. According to Prelec, the psychological cost of spending one dollar on a credit card feels
like only spending fifty cents.
➤ True
6. Credit card bills often cause emotional distress when they arrive.
➤ True
7. The pain of receiving a credit card bill may be one reason people prefer debit cards.
➤ True
8. E-wallets provide no real-time feedback on spending.
➤ False
(Unlike credit cards, e-wallets often show instant deductions.)
9. According to Emir Efendic, instant feedback on spending helps people control their
expenses better.
➤ True
10. Losing feedback on spending, like not seeing your balance drop, may lead to increased
spending.
➤ True
D. Writing
Task 1
1. currency
2. physical
3. smartphones
4. transportation
5. convenience
6. promotions
7. risks
8. fraud
9. platform
10. hedonistic
Task 2
1. Who is the target reader of the text above?
Answer: The target readers are general internet users, especially students, young adults, and
everyday consumers who use or are interested in using online transaction services such as e-
wallets, online shopping, and mobile banking.
2. What does the writer try to tell the readers about the text above?
Answer: The writer wants to inform readers about what online transactions are, their benefits,
and the risks involved. The main message is that while online transactions make life easier
and more efficient, users must be careful and responsible when using them.
3. Give two arguments and elaboration about the text above!
Argument 1: Online transactions are convenient and time-saving.
➤ People can shop or make payments from anywhere and anytime without visiting a store or
bank. This helps save time and makes daily life more practical.
Argument 2: Online transactions come with risks such as fraud and data theft.
➤ Because everything is done digitally, there’s a chance that personal information can be
stolen. That’s why it’s important to use trusted platforms and protect your data.
Assessment Summative Chapter 3
A. Multiple Choice
1. B
2. D
3. A
4. C
5. C
6. C
7. E
8. B
9. D
10. E
11. C
12. D
13. B
14. C
15. E
16. D
17. E
18. E
19. E
20. D
B. Essay
1. Answer: Dilal is concerned that e-money threatens financial privacy because every
transaction can be monitored and analyzed through big data.
2. Answer: The trade-off is that the more we use e-money, the more exposed our financial
activities become, leading to a loss of personal privacy.
3. Answer: Dilal feels unsettled and strongly believes in the importance of privacy,
expressing discomfort with being monitored without his consent.
4. Answer: Many people are starting to realize that e-money poses a significant challenge to
maintaining personal financial privacy.
5. Answer: Dilal asks what steps can be taken to ensure that people’s privacy is respected in
an increasingly digital and cashless world.
6. Answer: The primary advantage of e-wallets is their ability to help users set and track
budgets.
7. Answer: Individuals can set spending limits for different categories and stick to a strict
monthly budget using e-wallet features.
8. Answer: Regularly reviewing transaction history helps users identify impulsive or
unnecessary spending and adjust avoid debt.
9. Answer: Exercising discipline and avoiding unplanned spending reduces impulsive
purchases, helping individuals maintain financial stability and avoid debt.
10. Answer: These features allow users to build a financial safety net, so they can cover
unexpected expenses without relying on credit or loans.