It is probably even more secure. Europe for years has had a technology called Chip and Pin and that is basically what the new card is. Think marrying the convenience of credit with security of debit (actually more secure).
The last good idea to come from Europe was nearly 400 years ago when a couple of million of their people got into ships and came to America. Since then, pretty much all ideas we have gotten from Europe - including this one - are stupid. The key is included in your sentence above:
“Chip and Pin”
You have to enter a four digit pin at the time you make a purchase. The RFID isn't any more secure than the magenetic stripe - in fact it is LESS secure. And that's the way it is designed to be. People can set up readers at a distance and gather data on exactly where you are going and when. These data will be used for the purposes of marketing and “fine tuning your shopping experience.”
If they made you enter a pin with a magnetic strip card, it would be just as secure. Other than one more way to keep track of people, chip encoded cards are just another way to follow another fools mistake.