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Stripe Joins the Snowflake Retail Data Cloud to Unlock the Value of Payment Data

Stripe Joins the Snowflake Retail Data Cloud to Unlock the Value of Payment Data | Fintech Finance

Snowflake (NYSE: SNOW), the Data Cloud company, has announced that Stripe, a financial infrastructure platform for businesses, has joined the Snowflake Data Cloud and Retail Data Cloud, to enable joint customers in any industry, including retail and consumer packaged goods (CPG), to access and leverage their Stripe payment data directly in Snowflake. Through Stripe Data Pipeline and Snowflake Secure Data Sharing, customers will be able to join all their Stripe data and reports with other operational data stored in Snowflake – giving companies a single source of truth for making business decisions.

As digitisation and eCommerce continue to grow at a rapid pace across B2B and B2C companies, organisations are struggling to integrate and effectively analyse payment processing data alongside other data sets as they use it for business activities like monitoring for fraud, analysing demand, and marketing to customers. IT teams frequently need to set up a separate data pipeline to ensure that teams across the organisation are able to analyse payment processing data, resulting in teams making decisions based on incorrect or outdated data.

Stripe Data Pipeline makes it easy to unify data streams by sharing the up-to-date Stripe data and reports of a user directly to their Snowflake account in a few clicks—no code needed. Data Pipeline takes advantage of Snowflake Secure Data Sharing, which enables organisations like ChowNow and Lime to share data across their business ecosystem without copying, transforming, and moving data. As a result, Snowflake customers can be confident that their Stripe data is up to date and accurate as they analyse it alongside marketing, supply chain, and other data sets available on Snowflake Data Marketplace to deliver exceptional, personalised customer experiences and optimise operations for business across the sector.

“For a leading consumer business like ours, having our payments data continuously refreshed and integrated with other business data is crucial to our operations and growth,” said Matt Shump, VP of Data and Analytics at ChowNow. “This previously required a dedicated, manual engineering investment and we look forward to taking advantage of having Stripe data natively available in Snowflake to guide faster business decisions.”

“By enabling Stripe data natively in the Retail Data Cloud, retailers and CPGs can more seamlessly unlock vital data for business value,” said Rosemary Hua, global head of Retail & CPG at Snowflake. “As companies bring together data from across their business ecosystem into Snowflake to make data-driven decisions and fuel their growth, the addition of Stripe data will enable companies to deliver better experiences to their customers and power future growth.”


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