Stripe introduces Data Pipeline to help users sync their data with Amazon Redshift and Snowflake Data Cloud
Data Pipeline helps companies consolidate data in their existing warehouses and pull useful business insights faster.
Data Pipeline is fully integrated with Stripe’s financial platform, ensuring the same level of data integrity and security.
Fast-growing businesses like ChowNow, Housecall Pro, HubSpot, Lime, Shipt, and Zoom already use Data Pipeline to automate downstream reporting and identify growth opportunities.
SAN FRANCISCO AND DUBLIN—Stripe, a financial infrastructure platform for businesses, today announced the release of Stripe Data Pipeline, a tool for Stripe users who store data with Amazon Redshift or Snowflake Data Cloud.
Data Pipeline syncs Stripe data and reports with Amazon Redshift or Snowflake Data Cloud, where they can be queried in combination with other business information. Businesses can use their consolidated data to speed up their financial close and automate reporting to better identify key insights about their business, like their best performing payment methods or their optimal fraud modeling approach for a given region.
“Stripe’s data quality is above anything we’ve seen from other payment service providers. We’re thrilled that we can now access accurate and complete Stripe data directly in Snowflake Data Cloud, without having to lean on a third-party pipeline,” said Saket Rai, senior director and head of data at Lime.
The challenges of unifying data at scale
Before the launch of Data Pipeline, businesses wanting to analyze their data in their data warehouses had two options. First, they could build an API integration to export it, requiring multiple months and hundreds of thousands of dollars of engineering costs. Or, second, they could contract with third-party extract, transform, and load (ETL) pipeline providers, which can lead to incomplete results, since ETL providers don’t support the full Stripe data set. Both options could introduce data latency, inaccuracies, and potential security and data governance risks, especially as companies grow.
But the alternative—keeping data distributed—isn’t viable either.
“Stripe data in Amazon Redshift and Snowflake Data Cloud has been a top Stripe user request. With Data Pipeline, we’re helping our users set up a direct and reliable pipeline in mere minutes,” said Vladi Shunturov, product lead at Stripe.
The Data Pipeline solution
Data Pipeline solves the challenge of unifying datastreams by providing:
Reliable data delivery at scale. Users can send their complete, up-to-date data and reports from Stripe directly to Snowflake Data Cloud or Amazon Redshift in a few clicks—no code or engineering required.
Comprehensive business reports. Data Pipeline supports out-of-the-box financial reports, such as Stripe balance changes and fees associated with transactions. These reports let users reconcile their account activity without having to build common queries from scratch, or adopt a new analytics tool.
High data integrity and security. Stripe transfers users’ data directly to Amazon Redshift or Snowflake Data Cloud, allowing businesses to avoid third-party access to their information. Data Pipeline is built directly into Stripe’s financial platform, ensuring the same level of data integrity and security.
“Customers need secure, reliable, fast, and integrated analytics at scale without building complex data pipelines or moving and copying data around, and we’re excited to work with Stripe on the Stripe Data Pipeline that is built with Amazon Redshift. Data Pipeline enables customers to automatically share complete, up-to-date payments data with data in their Amazon Redshift data warehouses, and take their business analytics and reporting to the next level,“ said Rahul Pathak, vice president of analytics at Amazon Web Services, Inc. (AWS).
Data Pipeline also provides value to marketing, product, security, and sales teams. ChowNow’s security team uses Data Pipeline to improve its fraud detection by assessing fraud signals, like chargebacks, from every restaurant it serves.
“The introduction of Data Pipeline allows our joint customers to leverage Snowflake Secure Data Sharing to increase the value derived from payment data. Customers can seamlessly and securely join their payment data with other operational data to create a more holistic view of their business” said Christian Kleinerman, senior vice president of product at Snowflake.
Data Pipeline is currently available to Stripe users in the US who use Amazon Redshift or Snowflake’s Data Cloud. Businesses can also use Stripe Sigma to pull insights from their Stripe data directly in the Stripe Dashboard.