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Pin numbers can now be assigned to your Credit Card (Mastercard and Visa), which is needed each and everytime you buy online from stores supporting this system.
PeterP is telling the truth, its not such a simple task to just implement 3d secure etc. Once you implement the 3d Secure technology, you can watch your sales numbers drop as most people dont know their PIN numbers etc.
This is a slightly different approach, by handling all the risks internally.
Your bank should not chargeback a fully authenticated transaction with PIN - if they do, they are breaking their 3D agreement with visa/mastercard.....what does your own merchant agreement state? Or is your merchant agreement the same as ours which states nothing about 3D and therefore theoretically allowing the bank to break their own agreements with card issuers.
If this doesn't get sorted out then this system will collapse.....