Remittance clerk vs payment processor

The differences between remittance clerks and payment processors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a remittance clerk and a payment processor. Additionally, a payment processor has an average salary of $34,030, which is higher than the $28,795 average annual salary of a remittance clerk.

The top three skills for a remittance clerk include data entry, process payments and bank deposits. The most important skills for a payment processor are customer service, patients, and data entry.

Remittance clerk vs payment processor overview

	Remittance Clerk	Payment Processor
Yearly salary	$28,795	$34,030
Hourly rate	$13.84	$16.36
Growth rate	-5%	-5%
Number of jobs	66,450	33,161
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 45%	Bachelor's Degree, 35%
Average age	51	51
Years of experience	6	6

Remittance clerk vs payment processor salary

Remittance clerks and payment processors have different pay scales, as shown below.

	Remittance Clerk	Payment Processor
Average salary	$28,795	$34,030
Salary range	Between $23,000 And $34,000	Between $27,000 And $42,000
Highest paying City	-	San Jose, CA
Highest paying state	-	Alaska
Best paying company	-	University of California, Berkeley
Best paying industry	-	Insurance

Differences between remittance clerk and payment processor education

There are a few differences between a remittance clerk and a payment processor in terms of educational background:

	Remittance Clerk	Payment Processor
Most common degree	Bachelor's Degree, 45%	Bachelor's Degree, 35%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Remittance clerk vs payment processor demographics

Here are the differences between remittance clerks' and payment processors' demographics:

	Remittance Clerk	Payment Processor
Average age	51	51
Gender ratio	Male, 22.1% Female, 77.9%	Male, 21.5% Female, 78.5%
Race ratio	Black or African American, 6.8% Unknown, 4.0% Hispanic or Latino, 14.4% Asian, 6.6% White, 67.7% American Indian and Alaska Native, 0.6%	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%
LGBT Percentage	7%	7%

Differences between remittance clerk and payment processor duties and responsibilities

Remittance clerk example responsibilities.

Manage and complete revenue clearing, suspense, royalty payable, and GL reconciliations.
Manage revenue ledger including other subsidiary ledgers and responsible for the reconciliation of various income accounts to ensure accuracy of postings.
Maintain record of all revenue that comes in the office and reconcile with accountant, keep track of A/R
Manage revenue ledger including other subsidiary ledgers and responsible for the reconciliation of various income accounts to ensure accuracy of postings.
Perform monthly bank and GL reconciliations for all accounts and provide variance analysis.
Respond to inquiries from internal organization and external customers regarding package processing, delivery information and services offer by USPS stores.

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.

Remittance clerk vs payment processor skills

Common remittance clerk skills

Data Entry, 18%
Process Payments, 15%
Bank Deposits, 9%
OpEx, 8%
Check Payments, 6%
IRS, 5%

Common payment processor skills

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