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I don't think it's any more risky than using any other automated service with your phone. I mean, if your bank allows you to check your accounts using your phone, then it's essentially the same thing. It's actually worse, since your bank probably would require you to input your account number and your PIN, which google doesn't need.
I don't think it's too much of a risk, but ya know, using a prepaid CC might not be a bad idea. The only problem is that I'd probably reload it using my phone, if I it was an option.
I trust it 100% because as stated before it goes directly to google. However, no one's information is 100% safe but if a hacker wanted your information I don't think there's much in the way we can do to stop them.
People are really that worried about Credit cards? You realize that any fraudulent charge is seen and immediately canceled.
I ordered some Broadway tickets over the phone a couple months back, the person who took the order bought some electronics with my card number, my CC company immediately called me said are you in New York? I said nope and they said okay, canceling these charges and sending you a new card in a day.
I'm a platinum member, but still, I'm sure it's not just important members who get this service(was Visa).