[rwmj]

Although there are some problems with the implementation, I've come to like it for a couple of reasons:

(1) It authenticates features of your browser (like user-agent, IP address) to score the transaction. These are somewhat hard for an attacker to duplicate.

(2) With some UK banks, it is combined with a hardware one-time password generator to form a reasonably robust two-factor authentication.

Now there are certainly problems, such as it appearing in a frame, and not appearing as a subdomain of your bank, and those should be fixed.

[vitd]

The main problem with Verified By Visa (and whatever MasterCard calls it) is that in using it, you agree to be liable for it as if it were a card-present transaction, which is ludicrous for online purchases. Whenever I'm stopped to sign my card up for "Verified By Visa," I immediately switch to a different card because of the reduced protection I would have to agree to with "Verified" transactions. It's simply a way to shift responsibility onto the purchaser with no additional protection.

[jamesbritt]

I used to run into the VBV screen when ordering from NewwEgg. It's been a while so I don't know if things are the same. I refused to consent to the terms for the reasons you gave. Instead, I just closed the browser. The funny part is that my purchase would still go through.