President Obama signed an Executive Order that Initiates the Federal Government to change over all Federal Credit and Debit Cards over to the MicroChips there by replacing the Magnetic strip which plagued Target in their security breach late last year. Many retailers have already committed to this such as Target and Walmart . This is great, but the banks and others need to follow suit to make this technology viable. If the common consumer does not have access to this, it will be the old magnetic strip which is very susceptible to fraud.
FACT SHEET: Safeguarding Consumers’ Financial Security
Here is the Video of President Obama signing the Executive Order and explaining it.