No, it really is a sh*t system. When they implemented it in XI and I had to get the VBV, I called my bank (Bank of America at the time) and they didn't even know what the **** it was, so they transferred me to corporate, that person didn't know what the **** it was, and they asked their supervisor and THEY didn't know what the **** it was. When one of America's biggest banks has to dig around to find the person who knows what to do like it's a rare and obscure special order, it's a pretty stupid requirement.
I somewhat agree, but at the same time my own bank and all other banks (At least most) in Sweden had a notice go out to all customers saying soon we would need to get VBV if we wanted to do stuff online with our CC. You could do it in many ways and took 2mins. I just logged on to my bankaccount via internet and basically just chose a password and done.
I don't know how it is everywhere else(but reading several other peoples posts here it seems like VBV is pretty widespread and well known all over the world), but in this case maybe your large bank just weren't doing a good job. Big bank doesn't always necessarily mean best bank(For the record, I'm not saying it isn't the best).
I think it was a good decision to have VBV. However, pre-paid cards is something I don't see a reason why they shouldn't have. There are a lot of people who prefer that type of payment system and some even need it to be able to play(mostly children I suppose). Why take that option away?