13 December 2022

Transparency in Displaying Payment Option Prices – A Case Study

Customers today are more informed than ever, often doing rigorous research prior to committing to any service or web shop.

With that, customers tend to feel disappointed when a web shop fails to inform them of all the possible payment options, especially if the price changes depending on the payment option.

Transparency and communication is a pillar of any relationship, including that of a business and customer.

Why Prices and Payment Options Matter

Whenever a customer purchases a product, whether in web shops or regular stores, they prefer knowing the price beforehand.

Getting to the cash register or in this case, shopping cart, ready to checkout, only to be met with a different, often higher price, will make a customer unhappy.

This is also true for not being able to use certain payment options, whether credit card, cryptocurrencies or installment payments. It is especially problematic if the prices drastically change when using a different payment option, as is usually the case, for example, with installment payments.

The above mentioned situations, when not communicated clearly and prior to one committing to a purchase, could lead to a customer looking for another web shop, as well as leaving a bad review.

Transparency Wins Customers Over

Compared to regular shops which have to update their prices on paper cards or other relatively clunky ways of displaying prices, a web shop can be made from scratch to meet modern demands easily.

Updating your customer on the current prices for all payment options is a way to tell them that you care about their time and their money.

While most customers will not fret over a couple of pennies, nobody likes to feel tricked. This is what happens when customers end up paying a different price to the one they had first seen.

Transparency in communicating all the available payment options and the current prices for the said options will make every customer more trusting and more likely to purchase at a web shop that values their time.

Earning loyal customers is important for any business and transparency is one of the ways to do so.

Transparency In Displaying Prices – A Trust-Building Solution

A customer is likely to search for a new web shop if they feel that they have been tricked in any way. One of the ways to make a customer feel that way is to fail to display the correct prices for all payment options.

Prices can vary from one payment option to another, which is why it is important to keep the customer updated on all the prices for the different available payment options.

Whether through a popup, or as readily available information on the product page, prices should be displayed prior to a product being added to the shopping cart.

The result of transparency is building a loyal customer base. Customers are more likely to leave positive reviews if they are made to feel welcome and that their time is valuable.

Satisfied customers also recommend shops that they have had good experience with to their friends and loved ones.

Displaying prices for all payment options transparently and in a clear and visible way is a key component of running a successful web shop, something our team can easily set up for you.


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