What is the difference between payroll and EOR?

Can you clarify the distinction between payroll and EOR for me? I've heard the terms used interchangeably, but I'm not entirely sure of the differences. Is payroll simply the process of paying employees their wages, whereas EOR encompasses a broader range of services, such as managing employee benefits and taxes? Or is there another key aspect that sets these two apart? I'd appreciate your insights on this matter.