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Looks like iBill gonna use it:
"Verified by VISA Program
Soon iBill will offer the opportunity for its clients to participate in the Verified by VISA program. This new feature allows consumers to create a unique password that will be required at the point of purchase. When the end user attempts to make an Internet purchase, special software installed on the signup page will recognize VISA cards that have been registered. The consumer will then be prompted to key their unique password before a purchase can be approved. The entire process is web-based, so there is no need for consumers to install software.
Merchants who choose to participate in the program will receive added fraud and chargeback protection at no cost. Please visit VERIFIED BY VISA for more information on how the program works and the value-added benefits to merchants."
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