2. Transparency (sucks)!
You must have booked flight tickets on Paytm! Well, do you remember that they show the lowest price on the search results page and then add the convenience fee and other charges later on?
The price shown on the search results page is excluded of convenience fees and other taxes
Paytm shows the final price on the last screen
Well, it might seem on the surface that users love transparency but in the use case podcast with Ravish Bhatia, Dr. Sreelata Jonnalagedda (Associate Professor at IIM B) says that she has observed that the conversion rate of payments increases while the lowest price is shown first because users are really very lazy to cancel the transaction once they have initiated the transaction.
Humans coerce into an action when they fear losing out on something.
For the same reason, Groww shows digital gold price excluding GST upfront.
P.S:- You can run your own A/B test and verify if transparency in pricing works or sucks for you 😂