It isn't a chip and it won't be visible. The part about the mark being in the forehead and right hand is figurative. Just like God's commandments being written in our hearts. Think about it, the reason the commandments were given in the first place is because the human heart is "stony", which is why it was written in stone. Just as the laws of God are to be "written in our hearts", so shall the mark of the beast be written in the forehead and right hands of followers of the beast. From what is known of the mark as given to us in the Bible, the mark is:
1) the number of a man: 666. That value is first associated with the amount of talents of gold Kong Solomon was given yearly in the book of Kings. In the next chapter, King Solomon becomes Israel's first king to practice idolatry.
2) it is associated with commerce: you won't be able to buy or sell without it. Even from the passage in Kings associated with Solomon, we see the number 666 associated with commerce: Solomon is given 666 talents of gold
^^^ Given what it is written about the mark, it is not a chip or even something we could see with the naked eye. The mark of the beast would more than likely be occult or secret knowledge, which would make sense that it would be marked on the forehead (your brain contains knowledge) and in your hand (performs works). This makes sense because occult knowledge separated man and God in the first place. Man was tempted with knowledge that he felt God was keeping from him. To obtain that knowledge, man broke the one and only commandment he was given: do not eat of the tree of knowledge of good and evil. Knowledge is often referred to as the world's oldest currency, which would make sense that you couldn't buy or sell without it.