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What is Trade Deficit?

The negative difference between a country’s Exports and Imports of goods and services in money terms is known as the trade deficit, and it is a part of the trade balance component of the balance of payments of the country for a period of time. As it is measured over a period of time, it is termed a flow variable in the study of Economics.

Understanding the Balance of Payments

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a) Current Account

It is the net of the country’s income or payments and has the following components.

Balance of Trade: The difference between receipts’ monetary value from exports and payments for imports. In the Aggregate output equation used in Economic theory, it is symbolized by ‘NX’. If Exports value more, then we have a trade surplus; otherwise, we have a trade deficit.

Factor Income: The difference between interest and dividends received from foreign investments of the country and that paid to the foreign investors who have invested in the country.

Transfer Payments: This is the money sent back home by the country’s population working abroad. These are unilateral or one-directional, i.e. there are no goods or services provided in return for the same.

b) Capital Account

Investments in Assets: In the current account, we record the income from and to the foreign asset investments while the actual investment is recorded under the capital account, for example, the purchase of foreign company’s stock or bonds or Greenfield investments, and the reverse of the same made by foreign investors in the domestic assets.

How does Trade Deficit work?

We need to understand the factors affecting the balance of trade:

1. Cost of Factor Inputs 2. Exchange Rates

In international trade, if a domestic currency is depreciated, it is a plus because the foreign consumer’s purchasing power increases as one unit of foreign currency is capable of buying more units of foreign goods. Therefore the exports get a boost leading to a contraction of deficit or widening of surplus.

3. Taxes, Sanctions, Tariffs, Quotas

All of these policies restrict the flow of goods between two countries, and if these are imposed, they lead to a deficit for the exporting country and a surplus for the importing country. One of the reasons for such impositions is to boost the domestic economy.

4. Quantum of Forex Available

For importing countries, the amount of Forex it possesses becomes significant because it cannot import goods unless and until it is in a position to pay for those goods. At times countries enter into a deal of making the exchange in domestic currency instead of using a third party exchange currency such as USD. It is easier to import in such cases because a country has greater flexibility over the amount of its own currency available in circulation. Recently, in 2023, India got into a deal to purchase Iranian oil and pay for it in Indian National Rupee; later on, the US imposed sanctions; however, such contracts are quite prevalent.

5. Business Cycle

In the economic boom or expansion phase, the exporting countries show a surplus or a contraction of the deficit, while importing countries show a deficit or contraction of the surplus. The vice versa is true during the recession.

Example of Trade Deficit

The imports in September fell by $4.4 billion while exports fell by $1.8 billion. One of the major contributors to this decrease was the Auto industry, where the import of parts and export of parts, vehicles, and engines decreased by approximately $1 billion each. That is concurrent with the current slowdown in the auto sector as a whole. Apart from this, the decline in consumer goods imports was significant at $2.5 billion. This deficit has widened by approximately 24.8 billion, i.e. about 5.4% from the last year’s deficit of the same period. The next release is scheduled for December 5th for the month of October 2023.

Advantages of Trade Deficit

Greater Investments: FDI and FPI are part of the capital account, and if the current account has a deficit, the capital account shows a surplus; therefore, the countries with greater trade deficit may experience a greater inflow of investments as interest rates increase in such an environment. This is sometimes referred to as the self-correcting nature of the Trade deficit. However, it is more of a theoretical concept than a real phenomenon.

Negatively Impacts GDP: As per Economic theory, the GDP = C + I + G + NX, where C stands for consumption, I for investments, G for government expenditure, and NX for Net exports or the balance of trade. If NX is positive, it will increase the GDP, while if negative; it will decrease the GDP.

Domestic Unemployment: Greater imports imply that foreign-produced goods are cheaper as compared to domestically produced ones. This would lead to a reduction in domestic production and, therefore, greater unemployment.

Currency Depreciation: To import more, the country needs to sell its own currency in exchange for foreign currency to be able to pay for the imports. This increases the supply of domestic currency in the international market and increases the demand for foreign currency, leading to an appreciation of the foreign currency and the simultaneous depreciation of the domestic currency. This can also lead to inflationary pressures for the domestic population as the currency declines its purchasing power of the currency.

Dutch Disease: In simple terms, if the resources of a country are concentrated on one sector where it has a comparative example, only that sector grows, and others don’t, so the dependency on one product becomes very high. An example is Middle-east countries’ dependency on oil exports.

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5 Benefits Of Balance Sheet Reconciliation Automation In 2023

A step in financial close checklist is balance sheet reconciliation, which is matching a transaction’s payables with its invoice.

Manual reconciliations has challenges, such as:

Slow processing

Lack of accuracy and transparency

Overlooking fraudulent activities

An accurate and effective account reconciliation solution can help companies identify and address the bottlenecks in their closes, such as:

Overdue payments

Gaps in the financial processes

Outstanding receivables (that need adjusting for)  

Moreover, balance sheet reconciliation automation can also:

How does a balance sheet reconciliation software work?

A balance sheet reconciliation solution offers built-in libraries of financial tasks. Accountants can leverage them via drag & drop functionality to orchestrate their tasks and bypass IT intervention.

1. Automation

Through the use of automation tools like RPA and workload automation, the balance sheet reconciliation solution uses data from ERPs, data warehouses, and other business applications to autonomously carry out the required tasks.

2. Monitoring

Visible dashboards monitor the progress, tasks, activities, and bottlenecks. These allow for identification and remediation of performance gaps.

3. Storage

By housing all the data on the cloud, the information will be transparent, viewable, and modifiable by all relevant personnel. The latter is particularly important because it mitigates the risk of data loss, as every new input is instantly backed up into the cloud.

What are the benefits of balance sheet reconciliation automation?

1. Reduced workload 

Manual balance sheet reconciliation is time and labor consuming. It is reported that 30% of a company’s finance team’s time is spent on manual reconciliation. RPA and API integrate to automatically exchange data between applications. This reduces accountants’ workload. The saved time can be spent on higher-value tasks.

2. Real-time verification 

Reconciliation = certification. When accountants are reconciling the balance sheet, they are certifying that all transactions in different account ledgers are accounted for, with discrepancies identified and adjusted. That’s how assets and liabilities would go on to be matched at the end of the day. 

But it would be much simpler if transactions were instantly, and in real-time, verified against their receipts and invoices, with a visible audit trail. Automated reconciliation software does that.

So instead of having a pile of data to manually reconcile during the close season, rest assured that the pile would have gone through automated verification and adjustments as it was coming through in real-time. Therefore, during close, the accountants would only need to check and approve them.

3. Transparency & visibility

Automated solutions have visible progress dashboards that allows accountants to monitor the progress status of the reconciliation and certification process. So for instance, if 100$ had to be reconciled, they would see what percentage of that has been so.

Some accounts are more important than others. Therefore, teams might want to prioritize which ones to reconcile first. Or they might want to automate the reconciliation of some, but not the others. The progress of all the rule-based commands would be visible on the dashboard. 

Lastly, real-time monitoring would also enable teams to recognize any bottlenecks (i.e. discrepancies between values, lack of recognized invoice, or anything else) to immediately pinpoint and remedy.

4. Accurate

The automated solution is able to integrate with a business’ different ERP systems, such as CRM, order management software, and invoice automation software, to allow for the live transfer of financial data. This increases the degree of accuracy of reconciliation because the underlying numbers are as accurate as possible. 

This will enable the executives to be confident that the report they are getting after the close is the most accurate one, reflecting the true position of the company. 

5. Standardized

Leveraging an automated solution results in a standardized and systematized process. Not only will all accounts get reconciled in uniform templates across the board, but the accounting department will have a consistent timeline of the overall close process. Through rule-based workflows (e.g. “if X then Y”), no deadlines will be missed, whether it’s creating a close checklist, reconciling balances, or posting the closing entries. 

For more on financial close

We have written extensively on the automation of financial close in the past:

Finally, if you believe your business may benefit from financial close automation software, we have a list of data-driven list of financial close vendors.

And we can help you find the right automation software for your business:

He primarily writes about RPA and process automation, MSPs, Ordinal Inscriptions, IoT, and to jazz it up a bit, sometimes FinTech.





Difference Between Balance Sheets And Income Statements

Balance sheets and income statements are invaluable tools for business owners to measure their company’s performance and prospects, but they differ in key ways.

A balance sheet provides a snapshot of a firm’s financial position at a specific point in time, while an income statement – also known as a profit and loss statement – measures performance over a period of time. 

Accounting software helps to manage both of these financial statements.

This article is for small business owners who want to understand how to use balance sheets and income statements.

Balance sheets and income statements are important tools to help you understand the health and prospects of your business, but the two differ in key ways. This guide will give you a comprehensive overview of both financial statements.

The balance sheet and income statement represent important information regarding the financial performance and health of a business. An income statement assesses the profit or loss of a business over a period of time, whereas a balance sheet shows the financial position of the business at a specific point in time. 

Editor’s note: Looking for the right accounting software for your business? Fill out the below questionnaire to have our vendor partners contact you about your needs.

The balance sheet and income statement complement each other in providing a complete picture of a company’s financial position and future prospects. Both are crucial for decision-makers, investors and financial institutions.

If you don’t have a background in accounting or finance, these terms may seem daunting at first, but reading and analyzing financial statements remains a requisite skill for business owners and executives. 

What is a balance sheet?

The balance sheet is the cornerstone of a company’s financial statements, providing a snapshot of its financial position at a certain point in time. 

It includes what the company owns (its assets), what it owes (its liabilities), and owner’s equity, which includes money initially invested in the company, along with any retained earnings attributable to the owners or shareholders.

This statement is divided into two columns, based on the following equation:

Liabilities + Shareholder’s equity = Assets

This equation forms the foundation of a balance sheet, with assets in one column, equal to the liabilities and the owner’s equity in the other.

The balance sheet reflects the company’s performance since its inception, encompassing every single transaction, the amounts raised, the debts accumulated, the assets acquired, and their present valuations, all presented in a single statement. 

This provides insight into the operations, finances and future prospects of the company using financial ratios such as debt-to-equity, which reflects the company’s ability to pay its debts using equity, or the current ratio, which divides current assets by current liabilities to determine the company’s ability to meet its obligations over the next 12 months. 

Did You Know?

The acid-test ratio adds further clarity to the current ratio by only considering easy-to-liquidate assets, providing a more accurate picture of a company’s ability to meet obligations.

What’s included in a balance sheet?

The balance sheet comprises assets, liabilities and owner’s equity toward the end of the accounting period.


Cash and cash equivalents: Listed under current assets, this figure represents the value of the cash held by the company toward the end of an accounting period, along with other cash equivalents, which may include marketable securities and short-term deposits.

Accounts receivable: This is debt owed to a company for goods and services delivered, but not yet paid for. It can be used as collateral for borrowing money and is listed under current assets in the balance sheet.

Inventory: This refers to finished goods ready for sale, along with raw materials intended for the production of goods or services. Inventory is also classified under current assets.

Plant, property, intellectual property and more: These are long-term investments that cannot be turned into cash quickly, aren’t directly used in the production process, and have a life of more than a year. This type of property might include trademarks, copyright and goodwill. They are depreciated or amortized based on usage or value. On the balance sheet, they are listed under non-current assets.


Debt: Debts are any sums of money owed to lenders, banks or suppliers. They can be classified as either current liabilities or non-current liabilities, depending on whether they are long-term or short-term debts. Even for long-term debts, upcoming repayments are included under the current portion of long-term debt.

Accounts payable: This is the company’s outstanding payments owed to suppliers or vendors for goods and services delivered. Given the short-term nature of these obligations, they are classified under current liabilities, often payable within 90 days.

Underfunded pension plan: Company-sponsored retirement plans with more liabilities than assets are considered underfunded plans, unable to meet their current or future obligations. They are often classified as a non-current liability, and the company is obligated to pay and fill the gaps as and when the need arises.

Deferred tax liability: This represents taxes that are accrued, but not yet paid. Deferred tax liability often arises from the gap between when the tax is owed and when payment is due, in circumstances of installment sales, or to make up for the accrual/cash timing difference.

Owner’s or shareholder’s equity

In simple terms, owner’s or shareholder’s equity is equal to the total assets attributable to owners or shareholders in the event of the company’s liquidation, after paying all debts or liabilities.

This segment of the balance sheet includes return of equity (ROE), calculated by dividing net income by shareholder’s equity. ROE measures management’s effectiveness in employing and driving returns based on equity.

Shareholder’s equity also includes retained earnings – the portion of the net income that hasn’t been distributed to shareholders as dividends – to be used for funding further growth and expansion of the business.


Management will generally aim to maximize return on equity, and return funds to shareholders in the form of dividends or share repurchases when it is unable to generate sufficient returns with these retained earnings.

Realized gains and losses: Also referred to as “other income,” these are one-time, non-recurring gains that arise from the sale or disposal of assets. These may include sales of real estate, minority holdings in other firms, or even a subsidiary company. On the other hand, a loss-making sale or disposal of assets is listed under “other expenses,” and is often a result of assets selling for prices lower than their valuations on the balance sheet during the specified period in question.

Expenses: This includes all the costs arising out of the normal course of business, such as the cost of goods sold (COGS), which is the direct cost of materials and labor incurred during the production of goods and services. Expenses also include general administrative costs, which aren’t directly linked to the production process, but are essential for the organization, and depreciation or amortization of assets based on usage or fixed schedules.

Beats Studio Buds Review: Balance And Sacrifice

Beats Studio Buds Review: Balance and Sacrifice

Beats’ earbuds are getting into the active noise cancellation game, with the Beats Studio Buds also promising a much smaller package and more flexible product than its previous wireless headphones. The ANC earbud and headphone space is hotly-competitive right now, with mainstays like Apple’s AirPods Pro going toe-to-toe with Sony’s new WF-1000XM4, Google’s Pixel Buds A, and a host of rivals. The big question, then, is whether Beats’ mix of tight cross-platform compatibility can give its $149.99 Studio Buds an edge.

First impressions are off to a good start: it’s a far more convenient charging case than we’ve seen before from Beats, measuring in at 51.5 x 73 x 25.6 mm and 48 grams. The company’s packaging deserves a mention, too: the tiny box is also its smallest yet, and is made of 92-percent plant-based material that apparently comes from recycled fiber and sustainably-managed forests.

2023’s Powerbeats Pro – which remain on-sale alongside the Studio Buds, rather than being replaced by them – were among my favorites for general comfort, not least because of their soft earband. Studio Buds, like most of their rivals, rely on the silicone ear-tip to hold them in place. Beats says it considered thousands of different ear shapes as it figured out the small, medium, and large sets that come in the box.

Now, I have finicky ears, and that can make getting wireless earbuds to fit – and stay in place – tricky. With Studio Buds the result is good, but not quite as sticky as Samsung’s Galaxy Buds Pro. I wish Beats included a set of silicone “fins” like the new Pixel Buds A do, for a little extra security, though again I suspect I’m an edge case. Once they’re in place, each earbud is a little over 5 grams, and comfortable for extended wear; they’re also IPX4 water and sweat resistant.

While most rivals have opted for capacitive controls, Beats sticks resolutely with a physical multi-function button. A series of taps can control music playback or calls – one tap to play/pause; two to skip forward; three to skip back, for example – while a long-press switches between ANC modes. I like the button, and there’s definitely no uncertainty over whether you’ve pressed it or not, though it can be easy to accidentally tap when you’re pushing the Studio Buds into your ears.

By default, the long-press on each earbud is mapped to the same thing. You can change that, though, so that it triggers Siri – if you’d rather not use the “Hey Siri” wake word – or the Google Assistant, depending on whether you’re paired to an iOS or Android device. iPhone users will find those options in the iOS settings, while Android users will need to install the Beats app first; that also handles things like firmware updates. Usefully, Beats has also baked in “Find My” support for iOS and “Find My Device” support for Android, though you don’t get iCloud pairing sync, automatic Apple device switching, or audio sharing support as AirPods offer because the Studio Buds don’t use Apple’s H1 or W1 chip.

On the audio side, there’s a custom 8.2mm driver and a two-chamber acoustic design, relying on a two-piece diaphragm which Beats say was specially made with ANC in mind. Over the years, the company’s association with bass-heavy tuning has been tempered somewhat, and in fact Studio Buds are unexpectedly balanced in that regard. There’s low-end, sure, but not the heaping of extreme bass that you might first expect.

Still, it makes for enjoyable listening, plus a set of earbuds that aren’t just tilted toward dance, RnB, and rap. In fact the Studio Buds did better at classical than I expected, with an expansive soundstage and clean high-end that didn’t stumble into piercing shrillness. If anything I could’ve done with a little more bass thump; the bone-jarring rumble in Billie Eilish’s “Bury a Friend,” for example, fell short of the borderline-distortion that other headphones can deliver.

The flip side is that you can literally wear Studio Buds for hours and it’s not tiring. That’s thanks in part to a vented design, but the Active Noise Cancellation (ANC) helps there of course. It’s a homegrown system, Beats says, rather than what Apple uses in its AirPods Pro or AirPods Max.

Beats’ handiwork is solid, though not quite what Apple’s (more expensive) earbuds deliver; there’s just that bit more outside noise that still makes it through. I do like how easy it is to switch between full ANC and Beats’ Transparency mode, though. That pipes through just enough environmental noise so as to leave you a little safer while trying to navigate busy urban streets, or have a quick conversation without pulling an earbud out first. You can also toggle between the two – or turn the system off altogether – in the settings.

Something I’ve missed is an in-ear sensor. With many other wireless earbuds, when you take one out of your ear the music automatically pauses; put it back, and it resumes again. It’s a neat way to handle those moments where you need to interact with the outside world, but sadly the Studio Buds lack the sensor for it; Beats argues it would’ve taken up too much space. Yes, I could switch on Transparency mode for those impromptu chats, but I still feel a little awkward with earbuds in when I’m talking to someone, even if I know I can hear them just fine. In calls, the microphones are underwhelming, with callers reporting more trouble hearing me when I was outside than I’d expected them to have.

Studio Buds also support Spatial Audio. If you’re an Apple Music subscriber, tracks that support the Dolby Atmos-powered system will play by default, and as you move your head the soundstage will move around you accordingly. It’s a mighty clever thing, though right now Spatial Audio songs are in the extreme minority. Beats includes a four-month Apple Music trial if you’re not already a subscriber.

As for battery life, Beats says you should see 5 hours of music playback with ANC switched on from the earbuds, or 8 hours with ANC off. The case has enough battery for two full recharges of the earbuds: so, with ANC on, you’re looking at 15 hours in total, or up to 24 hours with it off. 5 minutes in the case is enough for an hour of ANC-off playback.

Beats’ numbers lined up pretty well with my own experience, and I liked being able to use a USB-C charger with the Studio Buds’ case rather than Lightning. The downside is that there’s no wireless charging support.

New York Board Of Trade (Nybot)

New York Board of Trade (NYBOT)

A physical commodity futures exchange located in New York City

Written by

CFI Team

Published June 18, 2023

Updated July 7, 2023

What is the New York Board of Trade (NYBOT)?

Founded and established in 1870, the New York Board of Trade (NYBOT) is a physical commodity futures exchange. The NYBOT is located in New York City and trades futures and/or options on currencies, interest rates, market indexes, coffee, cotton, orange juice, cocoa, and sugar. It later became part of the Intercontinental Exchange (ICE) in 2006.

In its earlier years of operation, the NYBOT made use of human traders to carry out commodities trading. The trades would be found on trading floors. Currently, a greater portion of NYBOT’s trades is conducted digitally and electronically via computers.


The New York Board of Trade is a physical commodity futures exchange.

The NYBOT is located in New York City and trades futures and/or options on currencies, interest rates, market indexes, coffee, cotton, orange juice, cocoa, and sugar.

Companies that trade on NYBOT employ brokers, and the brokers are sent to the trading floor to facilitate trades. On the trading floor, futures contracts are traded in order to purchase or sell currencies, commodities, and other instruments, at predetermined prices and predetermined dates in the future.

History of the NYBOT

Upon being founded, the NYBOT’s trading was mainly conducted by humans. In 1997, the NYBOT acquired the Coffee, Sugar, and Cocoa Exchange (CSCE). The move increased their presence and position in the trading market. In 2006, ICE then purchased the joint entities. In 2007, the NYBOT was renamed to ICE Futures U.S. The NYBOT trading floor is regulated by the CFTC.

How the NYBOT Works

Companies that trade on the NYBOT make use of brokers, and the brokers are sent to the trading floor to facilitate trades. On the trading floor, futures contracts are traded in order to purchase or sell currencies, commodities, and other instruments at predetermined prices and predetermined dates in the future.

It means that companies that are reliant on certain commodities can purchase them at predetermined prices for a future delivery date. The date can be in future weeks, months, or years. It gives companies the capacity to determine the cost of their raw materials.

The contracts are exchanged in a “trading room” (also referred to as a “trading pit”). The traders in the pit determine future rates in such fast-paced markets.

It is very important to remember that investors involved in the futures contracts are not buying the agricultural commodity but are rather trading the contracts which allow for control of the underlying asset. What is really exchanged is money (cash).

Importance of the NYBOT

The NYBOT provides a means for investors to achieve leverage. Futures and options contracts allow for the creation and deployment of leverage, which can result in either substantial wins or losses for the investors.

The NYBOT keeps a post margin requirement of 5%. The post margin is needed from the investor to make the trade. Hence, the investor only needs to pay 5% of the contract value to trade.

In addition, with the ability of traders to make use of market forces to reach realistic price expectations for certain commodities and other financial instruments, the NYBOT provides a means for smoothing market imbalances.

Finally, with the small post margin requirement, an investor is granted considerable control of an underlying asset. With prices that fluctuate quickly and higher than 5%, the investor only holds a small stake, thereby providing leverage.

The NYBOT in the Real World

The ICE, which acquired the NYBOT, currently functions and trades digitally and electronically via computers. It allows quick transactions and trades between market participants. The move, in conjunction and support of a new digital era, brought about an increase in market sizes and transactional volumes. Being an international marketplace, the ICE provides traders with a platform to trade in various commodities, ranging from agricultural commodities to derivative products.

Additional Resources

The Essential Guide To Nfc Mobile Payments

When a customer wants to pay you, it is helpful if your business accepts the type of payment they prefer. If you don’t, you are in danger of losing the sale and possibly the customer’s future business. NFC mobile payments are becoming increasingly popular among shoppers. As usage of this payment type grows, it is important to understand what an NFC mobile payment is and how it works to decide if it is right for your business.  

What is an NFC mobile payment? 

NFC – or near-field communication – enables wireless communication between a card or mobile device, and card terminals and other payment devices. If you have a credit card with a symbol on it that looks like a signal, it has NFC capability and you can use it to pay just by tapping it on a compatible card reader. In addition to NFC-enabled credit cards, a number of companies have created payment types using NFC that allow a buyer to use their mobile phone to complete a purchase. It is these smartphone NFC payment capabilities – also called digital wallets – that we will discuss in detail.

Did You Know?

NFC payments have gained in popularity since the coronavirus pandemic because they’re a completely contactless way to pay. In fact, in-store NFC mobile payment usage grew 29% in 2023, and experts expect that more than half of American smartphone users – accounting for 125 million people – will use one or more of them by 2025.

In 2023, a quarter of all point-of-sale payments were made using digital wallets, and this is forecast to increase to a third by 2023. The use of digital wallets is even more common in retail stores, with 56% of retailers saying they accept it as a form of payment. Digital wallets can also be used online, and they currently account for 44.5% of all e-commerce transactions – double that of credit cards. If you have a multichannel business, accepting NFC mobile payments can pay dividends by increasing your e-commerce sales.

Editor’s note: Looking for the right credit card processor for your business? Fill out the below questionnaire to have our vendor partners contact you about your needs.


See our comparison of Apple Pay, Google Pay and Samsung Pay for more detailed information on each provider.

Pros and cons of accepting NFC payments

Consider these pros and cons when deciding whether to accept NFC mobile payments at your business.


They have a high level of security.

They enable quick transactions.

They’re convenient for customers.

It takes less power to complete the transaction when you accept a payment via mobile device.

They enhance the checkout experience for customers.

Millennial and Generation Z consumers widely use them.

There are no surcharges from mobile wallet providers. You are only required to pay the credit card processing rate for the mobile wallet provider the customer has selected – if more than one payment method is offered in the app.


You’ll need to purchase NFC-enabled card readers for a high volume of transactions.

You’ll need to find a credit card processor that allows you to accept various NFC mobile payment providers.

Bottom Line

NFC mobile payments give customers a secure, easy, and contactless way to make a purchase, but you may want to accept more than one type to accommodate customers’ devices.

How to accept NFC payments

If you already accept credit cards, your payment processor can enable you to accept NFC mobile payments. If you do not currently accept credit cards, you can open a business account with PayPal or Square, since both companies accept multiple NFC mobile payment providers. Here are some of our credit card processor best picks and the NFC mobile payments they accept:

Clover accepts Apple Pay, Google Pay and Samsung Pay with its Go mobile reader ($99), Flex reader ($499), Mini POS ($749) and Station Solo POS system ($1,349 to $1,699). Learn more in our Clover review.

Merchant One accepts Apple Pay, Google Pay, and Samsung Pay and sells Clover card readers and POS systems. Learn more in our Merchant One review.

Stax by Fattmerchant accepts Apple Pay and Google Pay with Dejavoo Z8, Z9, and Z11, and the PAX A920 POS system for retail and hospitality businesses. It does not list its hardware prices. Learn more in our Fattmerchant review.

ProMerchant accepts Apple Pay and other NFC-enabled credit cards. ProMerchant’s Bluetooth Verifone VX520 credit card terminal is free to new retailers and restaurants. Mobile companies can use the PayAnywhere credit card reader, which accepts Apple Pay and cards. Learn more in our ProMerchant review.

Payment Depot accepts Apple Pay and Google Pay. It sells an assortment of card readers and POS equipment – including Clover, BBPOS Chipper 2X BT, Dejavoo Z11 and PAX A80. Learn more in our Payment Depot review.

Payment facilitators

Payment facilitators such as PayPal Zettle and Square allow you to accept multiple types of NFC mobile payments. Here are some details to mull over while considering these options:

PayPal Zettle allows you to accept Apple Pay, Samsung Pay and Google Pay with the PayPal Zettle Reader 2 mobile reader ($79, or $29 for new merchants), which can be used as a mobile reader or fixed reader with a charging dock. It also pairs with Zettle’s POS system.

Square allows you to accept Apple Pay and Google Pay with its Square Reader for contactless and chip mobile reader ($49, or free to new merchants) and the Square Register POS system ($799). If you want to use your own iPad with Square’s POS software, you can buy a stand and connect your Square Reader for an integrated solution.

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