It’s not a matter of if, but when. Banks regularly get hacked and spend untold billions of dollars and man-hours preventing hackers. Tech companies haven’t had to do this. Sure a virus or security issue pops up, but tech companies have never been in charge of consumers’ cards and money until now. It’s one thing to lose your email password, entirely another thing to not have money to buy food!
Both Apple and Google have millions of credit card numbers. Hackers could infiltrate where the cards are stored and steal the information that way. NFC hasn’t been hacked of yet (Google did have a wallet issue a few years back they quickly fixed) and the scary part is how the hackers will gain access through NFC. Drive-by, and “spoofing” seem to be the consesus on how to hack NFC, but I bet there is a vulnerability which we aren’t aware of yet! Definitely be interesting to see how sending credit card information through radio frequencies plays out.