Stripe joins the Snowflake Retail Cloud to Unlock the Valuation of Payment Data

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.

Organisations are finding it difficult to integrate and analyse payment processing data with other data sets. They use the data for business activities such as monitoring fraud, analysing demand and marketing to customers. To ensure that payment processing data is available to all departments within an organisation, IT teams often have to establish a separate data source. This prevents teams from making mistakes or making outdated decisions.

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 makes use of Snowflake secure data sharing, which allows organisations like Lime and ChowNow, to share data across their business ecosystems without copying, changing, or moving data. Snowflake customers can therefore be assured that Stripe data they have is current and accurate. They also analyse it together with data from the Snowflake Data Marketplace for marketing, supply chain, as well as other data sets to create exceptional customer experiences.

“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,” Matt Shump, ChowNow’s VP of Data and Analytics. “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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