Top 15 Payment Processor Skills (2024)

15 payment processor skills for your resume and career

1. Customer Service

Customer service is the act of supporting and helping customers with their needs. Payment processors use customer service by answering incoming calls, resolving issues, and providing support through various channels. They also use customer service skills when processing payments, checking patron identification, and communicating with customers to maintain good relations.

Here's how payment processors use customer service:

Worked jointly with customer service representatives and account managers to ensure proper and expedient processing of invoices for international carriers.
Worked efficiently as part of a specialized team providing exceptional customer service, with optimal settlement and resolution.

2. Patients

Patients are individuals who receive medical care or treatment. Payment processors interact with patients in various ways. They review Explanation of Benefits to determine patients' payment responsibility or understand denial reasons. They also communicate with patients to identify and resolve outstanding payments in a timely manner. Additionally, payment processors update patient insurance information, educate new patients about their treatments and insurance coverage, and issue refunds to patients and insurance companies when needed. They also process payments received from patients and apply refunds when appropriate.

Here's how payment processors use patients:

Reviewed Explanation of Benefits from insurance companies to determine patients' payment responsibility or to understand denial reasons.
Completed appropriate written and computerized documentation to initiate referral process or verbal change orders on existing patients.

3. Data Entry

Data entry is the process of manually entering information into a computer system. Payment processors use data entry to process mortgage payments, verify and confirm client requests, and maintain accurate records of payments and deposits. They also use it to operate payment processing machines and set up contracts for clients. For example, they might enter cash letter and bundle totals into an application or input data into an Excel spreadsheet.

Here's how payment processors use data entry:

Processed mortgage payments* Balanced transactions daily* Endorsed and encoded customer checks* Data entry, very fast and accurate
Company was behind in data entry and several months behind in verification/confirmation on clients request inquiries.

4. ACH

ACH, or Automated Clearing House, is a payment processing system that helps process transactions electronically. Payment processors use ACH to manage electronic banking services, such as personal and business internet banking and electronic statements. They also use it to process daily incoming and outgoing transactions, like wires and electronic payments. This includes downloading and processing electronic payments, setting up ACH and internet applications, and recording bank payments.

Here's how payment processors use ach:

Managed Electronic banking services to include personal and business internet banking, electronic statement, ACH, and Visa Check card.
Train on and process ACH Proof and JV for ongoing COB testing to ensure all processes and programs run correctly.

5. Phone Calls

Phone calls are a way to communicate with someone remotely using voice. Payment processors use phone calls to communicate with customers, clients, and other stakeholders. They answer incoming calls to resolve issues, provide information, or collect payments. They also make outbound calls to follow up on claims, update patient demographics, or set up payment arrangements.

Here's how payment processors use phone calls:

6. Credit Card Payments

Credit card payments are transactions where customers pay for goods or services using their credit cards. Payment processors use credit card payments by handling incoming payments from customers, reconciling deposits, and processing various types of card payments. They also enter payment information into systems, balance third-party payments, and provide customer care during transactions.

Here's how payment processors use credit card payments:

Assisted with the A/P department on daily reconciliation of deposits, EFT's and credit card payments within different provider locations.
Process debit/credit card, check and EBT card payments called in by distributors * Process freezer purchases by distributors at retailers

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7. Patient Payments

Patient payments are payments made by individuals for medical services or treatments. Payment processors use patient payments by posting them to patient accounts, managing reviews of site invoices, and calculating payments using standardized systems and processes. They also process and post patient payments for multiple clients nationwide, and balance daily batches of these payments.

Here's how payment processors use patient payments:

Process insurance and patient payments accurately and post insurance denials.
Ensured the insurance/patient payments are posted accurately.

8. Patient Accounts

Patient accounts are records that contain information about a patient's medical history, treatment, and billing information. Payment processors use patient accounts to manage billing and insurance claims. They post payments, adjustments, and denials to the accounts, investigate and resolve discrepancies, and issue refunds or credits as necessary. They also review and mail patient statements, and apply contractual agreements to the accounts.

Here's how payment processors use patient accounts:

Investigated and resolved patient account discrepancies as needed in accordance with Departmental Adjustments Policy and Procedure.
Validated electronic fund transfer checks prior to electronically posting line item receipts to patient accounts.

9. EOB

An EOB, or Explanation of Benefits, is a statement from a health insurance company explaining how a claim was processed. Payment processors use EOBs to clarify payment issues with insurance companies. They also use them to enter payments into practice management systems, identify second-party payers, and post insurance payments. They interpret EOBs to ensure insurance companies are paying the contracted rate and to identify adjustments and patient refunds.

Here's how payment processors use eob:

Call to Insurance Company for clarifying the problem in EOB s. Link patient s account in IDX & TRAC system.
Retrieved EOB's and Self-Pay batches throughout the department upon completion and recorded date and time via Excel.

10. Lockbox

A lockbox is a secure post office box used for receiving and depositing payments. Payment processors use lockboxes to process and record cash, checks, and credit card transactions. They sort and batch these payments, validate checks, and post them to the correct accounts. They also research and resolve complex cash processing issues, balance posting batches daily, and reconcile lockbox rejects.

11. Process Payments

Process payments is the act of handling and completing transactions for clients. Payment processors use process payments in a variety of ways, such as analyzing and researching payments, coordinating stop payments with treasury, and handling payment cancellations. They also prepare deposits, run credit card transactions, and process electronic remittance files. In addition, they maintain a healthy relationship with clients to ensure client satisfaction.

Here's how payment processors use process payments:

Coordinate stop payments with treasury and process payment cancellations/voids in PeopleSoft.
Research client information and process payments accordingly.

12. Securities

Securities are assets that can be bought, sold, or traded. Payment processors use securities by handling transactions related to their redemption, maturity, or calls. They also distribute notifications when securities are called.

Here's how payment processors use securities:

Processed redeemed, matured, and called securities and distributed notifications of called securities.

13. PowerPoint

PowerPoint is a presentation software that helps users create slides, charts, and graphs to convey information effectively. Payment processors use PowerPoint to create reports, dashboards, and presentations. They use it to assist in analytics, make recommendations, and translate complex findings into engaging visuals. They also use it to generate proposals under time constraints.

Here's how payment processors use powerpoint:

Work with OVP of Treasury assisting in analytics, creating reports/dashboards, PowerPoint presentations, etc.
Created PowerPoint presentations and conducted fact-finding interviews with large accounts and made recommendations for new equipment or upgrades.

14. Insurance Payments

Insurance payments are financial transactions between patients and their insurance providers. Payment processors use insurance payments to update patient records, process payments, and verify accuracy and compliance with provider contracts. They also post insurance payments to patient accounts, analyze contracts, and set up charge masters. This involves processing a high volume of payments, both cash and non-cash, and handling payments from various sources, including mail, E-pay, and credit cards.

Here's how payment processors use insurance payments:

Processed and verified customer insurance payments and reconciled information under State Farm guidelines in a fast-paced environment.
Processed recovery, bankruptcy, consumer credit counseling and insurance payments.

15. CPT

CPT stands for Current Procedural Terminology, a system used to identify and code medical procedures. Payment processors use CPT to verify that payments are posted to the correct codes and date of service. They also code claims using CPT and interpret these codes to ensure accuracy.

Here's how payment processors use cpt:

Completed daily responsibilities of coding medical diagnostics (ICD-9) and inputted medical procedures (CPT) for over 10 doctors.
Verify that payments are posted to correct CPT codes and date of service.

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