Skip the chip!
Pray and be there. KNOW who your child is with. Be involved with your child - that is what will keep your child safe - as far as your efforts are concerned. Ultimately God calls the shots so put prayer as #! on your action list.
BTW, I wouldn't chip my pets. No need to. In over twenty years of having pets, NONE were lost, NONE were stolen and NONE ran away from home. When one was hurt by a near run in with a car, he limped HOME. Animals aren't dumb. They know love when they experience it.
I see this whole chip business as a way of undermining your authority and affection the animal has for you. If you are a responsible owner you won't have to fall for the scare tactics used to ease you into the chipping business.