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Online payments in India have been subject to 2FA for several years now. In the early days, the failure rate used to be as high as 70%. Now, according to a recent article in ET SUNDAY, it has come down to around 35%. I'm not sure if this figure includes what I call "premature failures", which are abandonments caused by consumers who are too daunted by the huge number of moving parts to even attempt the payment in the first place.

Sigh I think I'll be proved wrong there. When digital payment-only new-age companies start accepting cash even in western markets after finding that 2/3rd of the world still uses cash regularly, cash probably won't go away in 185 years. 

https://www.compelo.com/uber-cash-payments-uk/

I find the headline totally accurate. According to the article, Monzo is the victim of somebody else's fault. Which is exactly what "fall guy" in the headline conveys. For a bank to make money off of current account, it has to make customers store more money, whether customer would need / want to or not. That's Banking 101. If Monzo hasn't managed to do that, it does face a huge challenge and that's what the article says.

I'm a little confused about the timelines. When you say "There would be certain banks that might have branches, but most of them will be looking at their customers to do online transactions in the near future.", do you mean near future from today or from 25 years hence? I ask because in Why Branch And Digital Channels Will Coexist Forever, I wrote about a bank that claims that (1) 90% of its transactions already happen via digital channels (2) it's still expanding its branch network (3) branches will always be around. 

Nope. Cash will last only for 185 years.  

The Death Of Cash Is At Least 190 Years Away

"Customers still visit branches to open new current accounts and purchase further products, such as savings accounts." Not surprising considering banks sell best at branches. That's Why Branch And Digital Channels Will Coexist Forever.

iPhone X has come. Still plastic is alive and kicking. When people can get away with their prediction that iPhone 5 will kill plastic, I don't see much risk in predicting that branch and digital channels will coexist forever:).

The latest IFTTT newsletter I received recently lists ING Australia as one more bank apart from Monzo that has used IFTTT integration.

@Lynton Buxton + 1. Cheque - The Unsung Hero Of CashlessIndia

Well before it runs in the background to automatically generate test cases, AI will replace developers for writing code. So it'll really be Bot v. Bot.