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

Rhea-AI Summary

Snowflake, a Data Cloud company, has integrated with Stripe, a financial infrastructure platform, to allow joint customers like ChowNow and Lime to access and analyze Stripe payment data directly within their Snowflake accounts. This integration provides a streamlined way for businesses in various sectors, including retail and consumer packaged goods, to unify data streams and make informed decisions without the complexities of manual data processing.

Positive

• Integration with Stripe enhances data accessibility for users.
• Facilitates real-time analysis of payment data with other operational metrics.
• Allows businesses to optimize operations and improve customer experiences through unified data.

Negative

• None.

Stripe Data Pipeline and Snowflake Secure Data Sharing enable joint customers like ChowNow, Lime, and more to view and analyze their Stripe data directly in their Snowflake account

No-Headquarters/BOZEMAN, Mont.--(BUSINESS WIRE)-- Snowflake (NYSE: SNOW), the Data Cloud company, today 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.

Stripe Joins the Snowflake Retail Data Cloud to Unlock the Value of Payment Data (Graphic: Business Wire)

As digitization and eCommerce continue to grow at a rapid pace across B2B and B2C companies, organizations are struggling to integrate and effectively analyze payment processing data alongside other data sets as they use it for business activities like monitoring for fraud, analyzing demand, and marketing to customers. IT teams frequently need to set up a separate data pipeline to ensure that teams across the organization are able to analyze payment processing data, resulting in teams making decisions based on incorrect or outdated data.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 organizations 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 analyze it alongside marketing, supply chain, and other data sets available on Snowflake Data Marketplace to deliver exceptional, personalized customer experiences and optimize 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.”

Learn More:

• Register here to hear about the latest Snowflake innovations and product announcements at Snowflake Summit 2022 'The World of Data Collaboration’ live in Las Vegas, June 13-16, 2022.
• See the latest Snowflake Retail Data Cloud announcement.
• Learn more about Snowflake for Retail and CPG businesses.
• Stay on top of the latest news and announcements from Snowflake on LinkedIn and Twitter.

About Snowflake

Snowflake enables every organization to mobilize their data with Snowflake’s Data Cloud. Customers use the Data Cloud to unite siloed data, discover and securely share data, and execute diverse analytic workloads. Wherever data or users live, Snowflake delivers a single data experience that spans multiple clouds and geographies. Thousands of customers across many industries, including 241 of the 2021 Fortune 500 and 488 of the 2021 Forbes Global 2000 (G2K) as of January 31, 2022, use Snowflake Data Cloud to power their businesses. Learn more at snowflake.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220518005228/en/

Danica Stanczak

Sr. PR Manager, Snowflake

press@snowflake.com

Source: Snowflake Inc.

FAQ

What is the significance of the Snowflake and Stripe integration for joint customers?

The integration allows joint customers to access and analyze Stripe payment data directly in their Snowflake account, simplifying data management.

How does the Stripe Data Pipeline enhance data analysis for Snowflake users?

The Stripe Data Pipeline enables users to unify their payment data with other datasets in Snowflake, providing a comprehensive view for better decision-making.

What industries benefit from the Snowflake and Stripe partnership?

Industries such as retail and consumer packaged goods can significantly benefit from the partnership by improving data accessibility and operational efficiency.

What are the main advantages of using Snowflake for data integration?

Snowflake allows for secure data sharing and simplifies integration across various data sources, enabling real-time data analysis without extensive engineering.

How can companies use the combined capabilities of Stripe and Snowflake?

Companies can use the integration to deliver personalized customer experiences and optimize operations by analyzing updated payment data alongside other business metrics.