Dynamic Currency Conversion Payment Options Specifically Harm Less Financially Literate Customers

International customers are increasingly exposed to dynamic currency conversion, that is, the option during checkout proceed with a transaction in home instead of foreign currency. As conversion markups can be sizable, it is relevant gain insight into how distinct groups react at point-of-sale terminals different and ways presenting information. The authors build on research effort–accuracy trade-offs theorize international levels financial literacy markups, degrees information transparency, default settings. find moderates effect information, defaults, they design an intervention eradicates usage. results contribute our understanding respond public policies intended protect customer interests, evil defaults used by commercial parties seek steer noneconomical options. discuss implications these findings for policy making research.