Visa has been doing this for some time now under the branding "Verified by VISA".

I have been using this service with CO.com and recently DL.com for all purchases with my Chase CO branded Signature Visa card. The service was flaky at first, but after dealing with CHASE directly in Wilmington, DE. (actually their Rt. 273 office in Newark, DE.) I was able to get it fixed.

Dan