Perception Layer examines the nexus of taking customers to a new dimension of market relationship; Apple offers a very good example. If you receive N50,000 into your fintech wallet, you expect it to take a small part of that money (say N900). But if your bank does it, you will get annoyed and complain. That perception is the genius in fintechs as they have created a new layer, making it clear that you cannot get that service for free. It was that construct that made Paystack to be valued more than FCMB, Wema Bank and Unity Bank combined.
The new generation banks did the same thing to the old generation banks, in Nigeria, in the 1990s when they introduced COT (commission on turnover). In COT, you are charged a fee whenever you withdraw money from your bank account. The new banks were able to condition the minds of customers that COT was necessary to offer their superior and faster services. Yes, the integrated banking system which made banking services agnostic of the specific branch where the account was opened changed the minds of customers; COT was a fair tradeoff for customers. Largely, an introduction of a new basis of competition, orthogonal to the status quo, opened a new revenue vista at scale.
Simply, customers are open to pay for things. But it comes down to your ability to create a perception layer in their minds through superior service. Until you do that, your ability to capture extra value will remain muted.