The fact that they've already had a data breach within the first week or so of launch is not exactly a strong argument for how secure their platform is.
That said, they're supposed to be a payments provider. They should be able to cope with being a target.
If they weren't a target because of the NFC stuff then they would have become a target because they're a payment platform. The only difference is probably how quickly the hack happened (or how public it became). If it had been the Chinese or Russians they possibly would have just pilfered and sold personal data.
Tell your friends and family not to be stupid -- never use a payment method on the internet besides a credit card. It's really simple: by law, you have no more than $50 liability for a fraudulent credit card transaction, vs $500 for a debit card. Plus in the former case, no money vanishes from your checking account, while in the latter, it may take several weeks for your money to come back. And while you are protected, in theory, under nacha rules and regulation E from liability for fraudulent ach transfers, you may still be out the money for a very long time while you fight with your bank. Here's a useful summary: http://www.fatwallet.com/forums/finance/1023728/m15101053/#m...
These idiot executives in MCX are so blind in their zeal to track customers everywhere, they never stopped to think of how reckless it is to make the customer liable.
Do you mean reckless or potentially lucrative? My god! suddenly we don't have to eat fraud from credit card transactions (in increasingly large amounts come 2015 when liability gets pushed down to merchants by the card companies). They get extra customer data AND reduced liability. Sounds perfect.