12/2: Holiday shopping:
Price comparison tools, Digital payments and wallets and Avoiding Holiday Fraud
Embedded Files
Our agenda today:
Our agenda today:
Review from last time (Cutting the cord)
Presentation
Homework
Quiz
Recording:
Recording:
Did you miss the class? You can view Tuesday's recording here.
Links sent by students on online scams
AARP: Scams and Fraud page
AARP: Fraud Watch Network
AARP: The Perfect Scam Podcast
Quick links:
Quick links:
Zoom room:
https://sdccd-edu.zoom.us/j/9191959460?pwd=OXh0RE9ZTVZTWElTMUQ0ZzAxQzExdz09
Passcode (if asked): emeritus
Holiday Shopping: Price comparison tools, digital payments and avoiding fraud
Holiday Shopping: Price comparison tools, digital payments and avoiding fraud
In today's class, we will be looking at three topics which involve holiday shopping: Price comparison tools, Digital payments and Avoiding holiday fraud.
Price comparison tools
Price comparison tools
Top 5 reasons to compare prices when shopping for holiday gifts:
§ Saving Money: Price comparison tools help ensure you’re getting the best deal available, potentially saving you a significant amount on purchases.
§ Time Efficiency: Instead of visiting multiple websites, you can quickly compare prices in one place, streamlining your shopping experience.
§ Finding Deals and Discounts: These tools often highlight deals, discounts, and coupons that you might otherwise miss.
§ Avoiding Buyer’s Remorse: Knowing you’ve found the best price gives you peace of mind and confidence in your purchase.
§ Getting the Best Value: Some tools include product reviews, helping you make informed decisions about both price and product quality.
Video: Using a price comparison tool. Uses Google shopping as an example.
Pros of shopping comparison tools:
§ Enhanced Customer Experience: These tools empower customers by offering detailed product information, allowing them to compare features, prices, and reviews efficiently. This leads to more informed decision-making and increased satisfaction
§ Finding the Best Deals: Comparison tools enable users to identify the most competitive prices and take advantage of discounts or special promotions, resulting in significant savings
§ Access to a Wide Range of Options: Consumers can explore multiple brands, models, and styles within their desired category, ensuring they find products that best fit their specific requirements
§ Time and Effort Savings: Instead of visiting multiple stores or websites separately, users can conveniently compare prices and options from the comfort of their homes
§ Customer Reviews: These tools often provide access to reviews from actual customers, offering valuable insights into product quality and performance
§ Convenience: Shopping comparison engines allow users to shop at any time, day or night, without the need to leave their homes
Cons of shopping comparison tools:
Information Overload: The vast number of options and information can be overwhelming, especially for older adults who may not be as tech-savvy
Privacy Concerns: Using these tools often requires sharing personal information, which can lead to data privacy risks and potential exposure to cyber threats
Impulse Buying: The ease of comparison and access to deals may encourage unnecessary purchases, leading to overspending
Neglect of Local Businesses: Increased reliance on online comparison tools can negatively impact local brick-and-mortar stores, potentially affecting community engagement and local economies
Inaccurate or Outdated Information: Prices and product information can change rapidly, leading to potential disappointment if the information displayed is not up-to-date
Loss of Personal Touch: The shift towards online comparison tools may result in a loss of personalized service and face-to-face interactions that some older adults may value
Three shopping comparison sites: View the videos to see how to use them
Honey: Honey offers discount codes and cash back rewards to help you save money when shopping online. Create an account and install the browser extension.
Google Shopping: Aggregates products from numerous online stores, allowing you to compare prices and read reviews.
CamelCamelCamel: Specializes in tracking price histories on Amazon, alerting users to price drops.
Digital Payments and Payment Security
Digital Payments and Payment Security
Forms of Digital Payments:
Credit Cards
Pros: Strong fraud protection, ability to dispute unauthorized transactions, helps build credit history.
Cons: Interest charges if not paid on time, potential for overspending.
Debit Cards
Pros: direct access to funds—no debt involved, usually no annual fees.
Cons: limited fraud protection compared to credit cards, funds are immediately withdrawn, making disputes harder.
Video: What is a digital wallet?
Digital Wallets (e.g., PayPal, Apple Pay, Google Pay)
A digital wallet is a secure, electronic version of a physical wallet that allows you to store and manage payment methods, such as credit and debit cards, along with other important information, like loyalty cards, tickets, and even digital identification. Digital wallets are commonly used for making online purchases, in-store payments via smartphones, and storing digital currencies like Bitcoin.
These can be mobile (Apple Pay, Google Pay), online (PayPal, Venmo) or cryptocurrency (Coinbase wallet).
These are good options because they are:
· Convenient: Pay quickly without carrying cash or cards.
· Secure: Uses encryption and authentication methods (e.g., biometrics, PINs).
· Tied to apps: Often tied to apps, loyalty programs, and digital receipts.
· Flexible: Works on online shopping, in-store payments (via NFC), and peer-to-peer transfers.
How to use a digital wallet and payment:
Add Payment Information: Enter card details or link your bank account.
Make Payments:
Online: Select the wallet at checkout.
In-store: Use NFC (Near Field Communication) technology by tapping your phone on a compatible payment terminal.
Track Transactions: Many wallets keep a digital record of your purchases.
Best Practices for Payment Safety
· Use Secure, Reputable Platforms (use verified and trusted processes, verify URLs and look for https://)
· Avoid Public Wi-Fi or use a virtual private network (VPN)
· Enable Two-Factor Authentication (2FA)
· Monitor Financial Statements and set up alerts with banks and credit card companies
Digital payments are encrypted and secure
Encryption: Your payment details are scrambled into code during the transaction, making it difficult for hackers to intercept.
Payment Platforms: Secure platforms like PayPal or Apple Pay process your payment, protecting your financial details from merchants.
Setting up an Apple Wallet on your Smartphone
Step 1: Open the Wallet App: Find and tap the Wallet app on your iPhone.
Step 2: Add a Card:
Tap the + icon in the top-right corner.
Choose Debit or Credit Card and tap Continue.
Scan your card with the camera or enter the details manually.
Step 3: Verify Your Card: Follow the prompts to verify your card with your bank.
To pay in stores, double-click the side button (or home button) and hold your phone near the payment terminal.
Set up Apple Pay
Video: Set up Google Pay
How to Set Up Google Pay
Step 1: Download the App: Open the Google Play Store (or App Store for iPhone) and search for "Google Pay" and download the app.
Step 2: Open Google Pay
Step 3: Sign In with your Google account, enter phone number and verify with the code sent by SMS
Step 4: Add Payment Method
Tap on the "Payment" tab or the Insights icon (looks like a dollar sign).
Select "Add Payment Method."
Use your camera to scan your card or enter the details manually.
Accept the terms and conditions.
Step 5: Enable NFC (if needed): Make sure NFC (Near Field Communication) is turned on in phone’s settings
To pay, unlock your phone and hold it near the payment terminal until you see a checkmark confirming the payment.
How to set up PayPal on your smartphone
Step 1: Download the App (on iPhone and Android, look for “PayPal” and download)
Step 2: Tap on the PayPal App to open it
Step 3: Sign Up for an Account
Select "Sign Up" (not "Log In").
Enter your phone number and tap Next. You’ll receive a verification code via SMS.
Enter the verification code.
Step 4: Enter Your Information (name, email address and create a password), tap next
Step 5: Provide Additional Details
Enter your address, date of birth, and nationality.
Confirm that you are at least 18 years old and agree to the terms.
Step 6: Link a Payment Method (Optional)
You can add a bank account or debit/credit card now or skip this step to do it later.
Step 7: Start Using PayPal
Once set up, you can send money, request payments, or shop online using your PayPal account.
Video: How to create a PayPal account
Video: How to use two-factor authentication (one of my favorite video creators!)
Instructions for Enabling Two-Factor Authentication
PayPal:
Log in to your account.
Go to Settings > Security > 2-Step Verification.
Select a method (e.g., SMS text or authenticator app).
Follow the on-screen instructions to activate 2FA.
Apple Pay:
Open Settings on your iPhone.
Tap Your Name > Password & Security.
Turn on Two-Factor Authentication and follow prompts.
Google Pay:
Open the app and go to Settings.
Select Security > Enable 2-Step Verification.
Complete the setup with your preferred authentication method.
Avoiding Holiday Fraud
Avoiding Holiday Fraud
Video: Uses an AARP representative to describe holiday scams
Common Holiday Scams
Fake Delivery Notifications: You receive an email or text claiming there’s an issue with package delivery. The message may include a link to "resolve the issue" but leads to a phishing website.
Charity Scams: Fraudsters pose as charities, especially during the holiday season. Scammers create fake websites or send urgent requests for donations.
Online Shopping Scams: Fake websites that mimic legitimate retailers. Offers of counterfeit goods at significantly discounted prices3
Gift Card Fraud: Scammers ask for payment via gift cards. Scammers tamper with cards in stores, stealing funds once activated.
Video: AI and scams this holiday season
Red Flags to Spot Scams
Unsolicited Messages: Be cautious of unexpected emails or texts with "urgent" requests for action. Official companies rarely request personal information through unsolicited emails.
Deals Too Good to Be True: Extreme discounts or offers for high-demand items during the holidays can be a lure for unsuspecting shoppers.
Requests for Personal or Financial Information: Avoid entering personal or payment details unless you are certain of the source. Be cautious of requests for payment via gift cards, wire transfers, or cryptocurrency.
Verify URLs: Check the website address carefully. Fake websites often use slightly altered URLs, such as "amaz0n.com" instead of "amazon.com".
Avoid Clicking Links: Don’t click on links in unsolicited messages. Navigate to the company’s website manually5
Research Charities: Use tools like Charity Navigator to confirm a charity’s legitimacy.
Check for Reviews: Look up unfamiliar websites or sellers before making purchases
Practical Tips to Avoid Scams
Check Sources: Visit official websites or contact companies directly to verify requests.
Use Tools to Verify: Visit Snopes or Better Business Bureau to confirm suspicious claims or sellers.
Protect Your Information: Never share passwords, Social Security numbers, or account details with unknown contacts.
Resources
Federal Trade Commission (FTC): www.consumer.ftc.gov
Snopes for Fact-Checking: www.snopes.com
Charity Navigator: www.charitynavigator.org
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