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Whoa, "Mobile payments ... USD 202 billion in 2012 to USD 410 billion in 2013". 

According to the sources quoted in my blog post (Mobile Wallet Has Few Takers - Even At Starbucks) and the accompanying comments, the respective figures were US$ 500M in 2012 and US$ 640M in 2013.

Even the most-wildly-bullish-and-futuristic estimates of mobile payment volumes I've come across are way, way below the actuals you've quoted for the last two years. I'm sure you must be having good sources for your figures.

Predictive analytics has been used in the industrial context for a fairly long time now. For example, engine manufacturers use algorithms to process noise, vibration and other vital statistics from their installations to predict likely failures and send service engineers to fix the problem before it causes accidents and / or downtime. Similar examples abound in aircraft MRO, solar farms, etc. Apps like Google Now have consumerized the technology and broadened its appeal many times over by making predictive analytics run on a smartphone. I'm keenly watching when they take the technology to the next level by, say, accounting for the vagaries and vissicitudes of human behavior. This hasn't happened in my limited exposure to Google Now so far.

Is there another company that has been bought-and-sold as frequently as IdenTrust in recent times?

BORDERS may be dead but the printed book is still dominant, with 69% of market share in USA in 2013 (Source: http://androidcommunity.com/reading-digitally-gains-in-popularity-but-print-is-still-king-20140116/).

I've personally seen a guy - don't know if he was a banker or Banking Correspondent or Self Help Group employee - collecting cash from vendors in a vegetable / fruit market in Pune and printing out a receipt from a mobile POS. This was for daily recovery of small loans. Maybe I'm wrong but I automatically assumed that the POS had a live connection to the backend server via GSM / CDMA network. Not sure whether mobile network signal is strong enough in the hinterland to support such a technology in paddy fields.

If the average John Doe really cared about fraud protection / chargeoff and stuff like that, IMHO they'd stick to credit cards, especially for online shopping. For the market segment that uses debit cards for online transactions today, Zapp offers a strong value proposition by obviating the cumbersome task of entering so many keystrokes for card #, CVV, expiry, etc. on a virtual keyboard. Just enter one PIN # - hopefully the same Mobile Banking PIN # - and they're done. Not sure if this segment is big enough to support yet another PSP, though.

@AFinextraMember: From personal experience, the payer is obliged to issue a new cheque if the older cheque has expired before being cashed. IMHO, rebooking profits might not be so straight forward. 

@DavidA: I'm sure O2's refund cheque can be processed via Mobile RDC. The very fact that we're asking what-if questions about cheques and mobile even in the context of mobile wallet is adequate testimony that Mobile RDC solves a real pain point. No wonder it's one of the few killer mobile banking apps in USA and I'm sure it will become one in UK as well!

As next step, is there anything stopping banks from doing a channel-wise customer profitability analysis and jettisoning low-margin customers who show a predilection to use a certain channel? 

@AFinextraMember: One more advantage of cheques, I guess! Just joking, since most accounting standards - including GAAP - require a company to make a provision for the cheque amount in its books of accounts as soon as it issues a cheque, so there might really be no such advantage. 

Unless vendors get their acts together, CTOs might not want to take the risk of putting their necks on the chopping block by taking the lead on such topics:

6 Reasons Why Banks Can't Transform Legacy Applications