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The differences between payment processors and document processors 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 a document processor takes usually requires 6-12 months. Additionally, a payment processor has an average salary of $34,030, which is higher than the $32,730 average annual salary of a document processor.
The top three skills for a payment processor include customer service, patients and data entry. The most important skills for a document processor are data entry, quality standards, and real estate.
| Payment Processor | Document Processor | |
| Yearly salary | $34,030 | $32,730 |
| Hourly rate | $16.36 | $15.74 |
| Growth rate | -5% | - |
| Number of jobs | 33,161 | 8,761 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 35% | Bachelor's Degree, 35% |
| Average age | 51 | 50 |
| Years of experience | 6 | 12 |
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.
Document processors are professionals who are responsible for managing the documenting processes and systems of an organization. These processors are required to organize documents after they have received and processed incoming documents such as texts and audio-visual formats. They must follow the data program techniques and procedures so that they can maintain data entry requirements and ensure quality assurance with all work completed. Document processors must also adhere to companies when handling materials, especially those with confidential information.
Payment processors and document processors have different pay scales, as shown below.
| Payment Processor | Document Processor | |
| Average salary | $34,030 | $32,730 |
| Salary range | Between $27,000 And $42,000 | Between $26,000 And $40,000 |
| Highest paying City | San Jose, CA | Boston, MA |
| Highest paying state | Alaska | Massachusetts |
| Best paying company | University of California, Berkeley | Pfizer |
| Best paying industry | Insurance | Insurance |
There are a few differences between a payment processor and a document processor in terms of educational background:
| Payment Processor | Document Processor | |
| Most common degree | Bachelor's Degree, 35% | Bachelor's Degree, 35% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | - |
Here are the differences between payment processors' and document processors' demographics:
| Payment Processor | Document Processor | |
| Average age | 51 | 50 |
| Gender ratio | Male, 21.5% Female, 78.5% | Male, 28.9% Female, 71.1% |
| 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, 6.7% Unknown, 4.5% Hispanic or Latino, 10.7% Asian, 4.7% White, 72.3% American Indian and Alaska Native, 1.1% |
| LGBT Percentage | 7% | 7% |