[Music]  Welcome to FDCs ecommerce education blog. Hi my name's Richie Hale and I'm the Chief Innovation Officer. I've touched CR in this video I'd like to share a  patent-pending process to significantly  reduce, well actually eliminate  chargebacks. That's right is eliminate  chargebacks. As we all know chargebacks  are the digital poison of any e-commerce  company. You generate a lead, convert them to a customer and ship the product then days or weeks later actually up to six  months your customers that decide that they didn't want the product in the first place so rather than call your company and ask for a refund which you gladly and  cheerfully fulfill. Your customer calls their bank and disavows any knowledge of  the transaction taking place in the  first place. Of course the bank sides with their customer and immediately issues a charge back to the merchant, you and exceed the  1% threshold when you have a digital  target on your back  but what if theres a way to change the chargeback game. Well if there's a way to  stop charge backs at the source before  they ever leave your customers bank. Well I'm happy to say there is, by using a  technique well known to the industry and  applying it properly to the front end  transactions we can actually eliminate  charge backs. The secret is simple: two-factor authentication Two-factor  authentication is a method of confirming  a user's identity by utilizing a combination of two different factors, the first factor something they know; the password credit-card details, their  address; the second factor is something unique to the transaction in this case a six digit code sent to their mobile  phone that the answers have verified  their identity. So let's review the  process as part of your order form be  sure to require the customers mobile  phone number this is critical to the  process then when the customer proceeds  to the next step they fill in their  credit card details and select the Pay  Now button then the fun begins the  customer receives an SMS message on  their mobile phone with a six digit  authentication code they're asked to  enter this code on the checkout screen  which  now contains a pop-up like this the  customer enters the six digit  verification code and they're done of  course you can gamify this process if  you like buffering a free gift exciting  information a contest and so on once  entered the confirmation page appears  and the transaction is complete. Congratulations you've just processed a  credit card transaction validating the  customer's identity using two-factor  authentication. Now to be clear this will  not eliminate true fraud and the credit  card stolen. However what this process  does is prevent the customer who made  the purchase from committing a  fraudulent act by filing a false filing. A false claim in other words the bank  knows this is a two-factor  authentication transaction  therefore if the customer calls the bank  with no knowledge of the transaction the  bank has a fiduciary responsibility not  to allow the customer to file a false  claim nor can the bank so the bank will  most likely suggest that the customer call  your company and ask for a full refund. Of course this is a simple quick  overview of the process if you'd like  more details on how to use this for your  company please contact us at info at  touchier. Thank you very much. [Music]