I have to say this is not an original idea. My mom used this technique with us growing up. I've just modified it since my kids are in Awana, a structured Bible memory club.
As an Awana leader I notice that a lot if parents aren't working with their children to learn their memory verses at home. And I understand. While it's noble to say that parents should be helping their kids memorize scripture, the truth is that it's really hard to find time for the amount of drill necessary to make it stick, especially when you have a non-reader.
I've been writing their verses on index cards and putting them at their places at the table. Since we eat meals together, this is a great time to review their verses each day. Growing up, we read/said our memory verse as soon as the prayer was over, before we began to eat. I'm not quite that consistent, but I've found that having the verse in front of us reminds me to have the kids say it a number of times through the week. Usually before the week's end, they can say it by heart.
I usually write 3 at a time and paper clip them together. Index cards work better than keeping their Awana book on the table (where it might get damaged), and if I do several at one time, it's easier to not get behind.
It only takes a few minutes for me to copy their verses, and then a minute or two each day. This takes so much intimidation out of the idea of scripture memory! Absolutely painless!