What is Verified by Visa and MasterCard Secure Code?

The RBI has made it mandatory, from 1st August 2009 onward, for all online transactions to have an extra level of authentication to make online shopping safer. The 'extra' level, is a password that you will have to enter after entering your credit/debit card details while making online payments.
You will require this for transacting on any website in India, including BookMyShow.

This new technology is called VBV - Verified by Visa or MSC - MasterCard Secure Code.