My credit card contract features customers protection against fraudulent use of my credit card. I can use chargebacks to protect me, e.g. in case somebody stole my credit card details.
Recently credit card companies have show great interest in pushing upon / promoting to their customers a new system often referred to as 3D Secure which in case of my VISA contract is named "Verified by Visa".
Reading my contract, it stated that different to the protection I had without the use of that 3D secure system, I can expect problems with chargebacks after fraudulent use.
To me that seems henceforth that this new 3D secure, as in "Verified by Visa", is merely requiring me a less comfortable way of usage. While in case of a hack, leaves me much worse off.
I can completely understand the motivation of VISA and other credit card companies to reduced their expenses related to chargebacks, but I fail to see how there is more "security" gained by me, as in the "Verified by Visa". I have to bear less coverage in case of fraudulent use. Frankly it seems to me "Verified by Visa" is a scheme to shift liability and damage costs from the credit card company to their customers?