The Snapper card is not a mifare chip, its a Tmoney microprocesser card that has 128 bit encryption, so is very robust as far as security goes and has not been cracked.

This is interesting news, considering that most reports on the web seem to indicate that T-Money uses MiFare. Also, what do you mean by "128-bit encryption" in this context? Whatever chip used by Snapper, I think in its current implementation - low value cards coupled with what seems to be online or end-of-day reporting - the security issue is a bit of a red herring, and not much to be too concerned about. (I'd be more concerned if I was in charge of corporate or governmental building access though - there may well be some high-value targets around Wellington who use the older Mifare chips for physical access control. Even so, I bet that most are still using the even less secure magstripe cards, so one would expect this risk is already known and controlled.)