A payment gateway and a payment processor are two elements needed to safely and securely process payments. The payment gateway collects, verifies, encrypts, and transmits the information to the payment processor, while the processor facilitates the actual transaction by working with the card network and relevant banks. Learning the difference between a payment gateway and…
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Adyen vs Stripe: 2024 Price, Features & What’s Best
Adyen and Stripe are popular international payment processors with ecommerce tools, strong integrations, and in-person card terminals. Stripe, however, has more extensive integration options, better rates for non-credit card payment methods, and a slightly larger international reach. Meanwhile, Adyen offers independent merchant accounts for better stability, interchange-plus pricing for credit cards, and a more unified…
Online Banking vs Traditional Banking: What’s the Difference?
Online banking is the process of conducting financial transactions through a company’s website or mobile application. Traditional banking involves visiting a physical banking location—a branch or an ATM—to conduct transactions. Many modern banking institutions now operate exclusively online. Because these providers lack brick-and-mortar branches, they pass their savings to their customers through lowered fees and…
The Difference Between Accounting and Bookkeeping
Accounting and bookkeeping are related processes in the field of financial management, but they differ in their scope, tasks, and focus. While bookkeeping is primarily about recording transactions and maintaining accurate records, accounting involves a more comprehensive analysis of financial data to support strategic decision-making for businesses and organizations. Key Differences Between Accountants vs Bookkeepers…
Gusto vs Square Payroll: Which One Is Right for Your Small Business in 2024?
When it comes to small business payroll processing, two of the popular payroll solutions available on the market are Gusto and Square Payroll. While both can help streamline the way you pay employees, Gusto offers more HR payroll solutions, such as international contractor payments, applicant tracking, and performance management. Square Payroll may not have advanced…
Gusto vs BambooHR: Which One Is Right for Your Small Business in 2024?
Gusto and BambooHR provide HR payroll solutions to help small to midsize businesses (SMBs) easily handle essential employee management processes. These two cloud-based systems may have similar functionalities, but Gusto’s core platform is payroll while BambooHR’s software is ideal for managing various HR processes. Gusto also provides a solution for processing international contractor payments, whereas…
Quicken vs QuickBooks: Which Is Best for Your Small Business?
Quicken and QuickBooks Online are both financial management software, but they serve different purposes and target different audiences. Quicken focuses on personal finance features, such as budgeting, investment tracking, and bill management. However, it does have features to track income and expenses of rental houses and simple one-person businesses. Meanwhile, QuickBooks Online is a double-entry…
Square vs PayPal: Price, Features & Which Is Best in 2024?
Square and PayPal are popular tools for accepting payments and work well for most small businesses. Both can serve as merchant services providers and point-of-sale (POS) and ecommerce platforms. The primary difference lies in what they do best. While both offer free POS systems, Square’s is more feature-rich and has add-on software to grow with…