It's not. I tried making a purchase on newegg, got the the Verified by Visa page, but the frame didn't show anything. Assuming that the purchase wouldn't go through, I tried making the same purchase on my other computer. Frame loaded, entered password, purchase went through. However, the first purchase went through, even though I never entered the password for that one. So yeah, I'm guessing it doesn't really do anything to protect you.
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It's not. I tried making a purchase on newegg, got the the Verified by Visa page, but the frame didn't show anything. Assuming that the purchase wouldn't go through, I tried making the same purchase on my other computer. Frame loaded, entered password, purchase went through. However, the first purchase went through, even though I never entered the password for that one. So yeah, I'm guessing it doesn't really do anything to protect you.