Visa calls it "Verified by Visa", actually. The common name is 3-D Secure. And yes, the implementation sucks, especially since you're dependent on the _issuing_

Visa calls it "Verified by Visa", actually. The common name is 3-D Secure. And yes, the implementation sucks, especially since you're dependent on the _issuing_ bank being able to keep their 3-D Secure server up (which serves the auth step).