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What is a transaction processor and how to become one
A transaction processor is a payment clerk that tracks payments, fine penalties, and other expenses. Transaction processors are usually employed by government offices, insurance companies, and other consumer businesses. Although individual duties differ according to their sector and ability, they execute tasks close to those of bookkeeping and accounting personnel.
Payment processors accept, register, and issue payment receipts made in person, online, on the phone, or by post. As such, customer care and accounting tasks are also performed by payment processors. They use several office and electronic equipments to manage and retain account records, enter alphanumeric details, codes, and financial reports. Payment processors may also prepare bank deposits, which require consistency.
Candidates must have a high school diploma or similar qualifications. However, some employers may favor someone with a bachelor's degree. Bureau of Labor Statistics calculated the median wages of payment processors, bookkeeping, and accounting clerks at $40,240 annually.
Avg. Salary $47,123
Avg. Salary $59,228
Growth rate -3%
Growth rate 0.3%
American Indian and Alaska Native 1.09%
Asian 4.71%
Black or African American 6.70%
Hispanic or Latino 10.69%
Unknown 4.53%
White 72.28%
Genderfemale 71.87%
male 28.13%
Age - 53American Indian and Alaska Native 3.00%
Asian 7.00%
Black or African American 14.00%
Hispanic or Latino 19.00%
White 57.00%
Genderfemale 47.00%
male 53.00%
Age - 53Stress level is moderate
7.1 - high
Complexity level is basic
7 - challenging
Work life balance is excellent
6.4 - fair
Transaction processor career paths
Key steps to become a transaction processor
Explore transaction processor education requirements
Start to develop specific transaction processor skills
Skills Percentages Clerical Tasks 25.62% Computer Database 24.95% Business Operations 15.82% Data Entry Functions 7.02% Processing Tasks 6.89% Complete relevant transaction processor training and internships
Accountants spend an average of Less than 1 month on post-employment, on-the-job training. New transaction processors learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as a transaction processor based on U.S. Bureau of Labor Statistics data and data from real transaction processor resumes.Research transaction processor duties and responsibilities
- Coach fellow team members to help attain higher QA and assist with CANDE questions to ensure efficiency.
- Process Medicaid medical and dental claims - ensure accuracy and completeness of data
- Apply a vast working knowledge of pertinent laws and regulations (HIPPA).
- Exercise knowledge of HIPAA regulations to process health insurance payments in a secure environment.
Prepare your transaction processor resume
When your background is strong enough, you can start writing your transaction processor resume.
You can use Zippia's AI resume builder to make the resume writing process easier while also making sure that you include key information that hiring managers expect to see on a transaction processor resume. You'll find resume tips and examples of skills, responsibilities, and summaries, all provided by Zippi, your career sidekick.
Choose from 10+ customizable transaction processor resume templates
Build a professional transaction processor resume in minutes. Browse through our resume examples to identify the best way to word your resume. Then choose from 10+ resume templates to create your transaction processor resume.
Apply for transaction processor jobs
Now it's time to start searching for a transaction processor job. Consider the tips below for a successful job search:
- Browse job boards for relevant postings
- Consult your professional network
- Reach out to companies you're interested in working for directly
- Watch out for job scams
How did you land your first transaction processor job
Are you a transaction processor?
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Average transaction processor salary
The average transaction processor salary in the United States is $47,123 per year or $23 per hour. Transaction processor salaries range between $30,000 and $72,000 per year.
What am I worth?
How do transaction processors rate their job?
Transaction processor reviews
There is nothing that I do not like about my job as a notary public.
Independent hours and days. I love being a Notary.
Nothing everything is great.
It's your money. It's your schedule. It's your own business.
Traveling can sometimes be an issue because if you can't make it when they want you can lose out on that job, also, if you have kids it can be an issue because a lot of times you have to look for a sitter last minute or if you're working full time or can be an issue because you won't be able to make every appointment.
Updated January 8, 2025
