Payment processor vs accounts receivable analyst

The differences between payment processors and accounts receivable analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a payment processor, becoming an accounts receivable analyst takes usually requires 6-12 months. Additionally, an accounts receivable analyst has an average salary of $43,692, which is higher than the $34,030 average annual salary of a payment processor.

The top three skills for a payment processor include customer service, patients and data entry. The most important skills for an accounts receivable analyst are customer service, reconciliations, and customer accounts.

Payment processor vs accounts receivable analyst overview

	Payment Processor	Accounts Receivable Analyst
Yearly salary	$34,030	$43,692
Hourly rate	$16.36	$21.01
Growth rate	-5%	-8%
Number of jobs	33,161	26,558
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 35%	Bachelor's Degree, 61%
Average age	51	46
Years of experience	6	12

What does a payment processor do?

A payment processor is responsible for managing and informing the clients of their payment obligations for the services offered by a financial institution or other related organizations. Payment processors record transactions and ensure the timely completion of account statements. They discuss the terms and conditions of the service contract with the clients and respond to their inquiries and concerns. A payment processor must have excellent communication and organizational skills, especially in coming up with repayment plans and solutions for clients who are not able to pay services in time.

What does an accounts receivable analyst do?

An Accounts Receivable Analyst provides accounts receivable support through monitoring all aspects of the collection of outstanding debts owed to a company. They check missing and unresolved payment issues, monitor overdue accounts, and prepare statements for managers.

Payment processor vs accounts receivable analyst salary

Payment processors and accounts receivable analysts have different pay scales, as shown below.

	Payment Processor	Accounts Receivable Analyst
Average salary	$34,030	$43,692
Salary range	Between $27,000 And $42,000	Between $33,000 And $57,000
Highest paying City	San Jose, CA	Arlington, VA
Highest paying state	Alaska	Connecticut
Best paying company	University of California, Berkeley	Pacific Investment Management Company LLC
Best paying industry	Insurance	Hospitality

Differences between payment processor and accounts receivable analyst education

There are a few differences between a payment processor and an accounts receivable analyst in terms of educational background:

	Payment Processor	Accounts Receivable Analyst
Most common degree	Bachelor's Degree, 35%	Bachelor's Degree, 61%
Most common major	Business	Business
Most common college	University of Pennsylvania	-

Payment processor vs accounts receivable analyst demographics

Here are the differences between payment processors' and accounts receivable analysts' demographics:

	Payment Processor	Accounts Receivable Analyst
Average age	51	46
Gender ratio	Male, 21.5% Female, 78.5%	Male, 29.4% Female, 70.6%
Race ratio	Black or African American, 6.8% Unknown, 4.0% Hispanic or Latino, 14.5% Asian, 6.6% White, 67.4% American Indian and Alaska Native, 0.6%	Black or African American, 14.2% Unknown, 4.0% Hispanic or Latino, 18.7% Asian, 3.5% White, 59.1% American Indian and Alaska Native, 0.5%
LGBT Percentage	7%	8%

Differences between payment processor and accounts receivable analyst duties and responsibilities

Payment processor example responsibilities.

Manage and review all incoming discounts and electronic contractual adjustments for accuracy per the negotiated Medicaid and Medicare contracts ;.
Maintain daily transactions for customer payments and various bank accounts using Quickbooks to track transactions.
Prepare and print all reports for EDI processing.
Maintain client customer confidentiality and HIPAA regulations with all data handling and transfers.
Uphold and reinforce compliance with hospital policies and federal regulations such as HIPAA.
Investigate and take corrective action regarding invoices reject by system or through EDI.

Accounts receivable analyst example responsibilities.

Manage profitable accounts receivable ledgers for existing and new clientele maintaining accuracy of monies enter to appropriate relate account.
Perform and analyze all accounts receivable duties, including proper application of cash, check, ACH, and wire transactions.
Forecast estimate check clearing, deposits, ACH activities and other variables in order to set guidelines for daily cash position.
Verify benefits and eligibility for new patients.
Determine medical benefits base on contractual agreements assuring benefits are applied correctly for patients during claims processing.
Code invoices, research customer information, perform detail reconciliations, analyze exceptions with customer information and billing.

Payment processor vs accounts receivable analyst skills

Common payment processor skills

Customer Service, 15%
Patients, 10%
Data Entry, 10%
ACH, 8%
Phone Calls, 5%
Credit Card Payments, 4%

Common accounts receivable analyst skills

Customer Service, 13%
Reconciliations, 8%
Customer Accounts, 7%
Pivot Tables, 4%
Patients, 4%
Financial Reports, 4%

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Payment Processor vs Accounts Receivable Analyst

Updated January 8, 2025

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