Technology

Stripe moves beyond payments to help businesses generate insights from a rich data trove

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When the online financial processing company Stripe Inc. got its start in 2010, the company found a niche by providing merchants with a simple way to accept revenue from customers.

Twelve years later, Stripe has moved beyond payments as its sole offering into new status as a comprehensive financial services provider.

“What Stripe did was introduce a couple of lines of code that developers could easily integrate into their websites and start accepting payments online,” said Noor Faraby (pictured, left), product marketing manager at Stripe. “We have expanded into so many different tools and technologies that are beyond payments. We like to think of ourselves now as more than just a payments company, rather as financial infrastructure for the internet.”

Faraby spoke with theCUBE industry analysts John Furrier and Savannah Peterson at AWS re:Invent, during an exclusive broadcast on theCUBE, SiliconANGLE Media’s livestreaming studio. She was joined by Brian Brunner (pictured, right), software engineering manager at Stripe, and they discussed how businesses use the Stripe Data Pipeline to identify new growth opportunities. (* Disclosure below.)

Flowing data into Redshift

Stripe’s portfolio has grown to include services for setting up online marketplaces accepting multiparty payments, running subscriptions, managing recurring payments, and collecting sales tax accurately and compliantly. The company also runs the Stripe Data Pipeline, which helps customers consolidate warehoused data and pull insights from it more quickly.

“Stripe Data Pipeline helps our customers get their data out of Stripe and into their data warehouse, Amazon Redshift,” Brunner said. “They have a lot of other datasets they want to join our Stripe data with to get to more complex, more enriched insights. Stripe Data Pipeline is a really seamless way to let you do that.”

Moving data around carries an element of risk, especially when money is involved. Stripe’s partnership with AWS is designed to facilitate secure transfer on both ends.

“Redshift is a very secure product, and the way that we share data is really secure,” Brunner said. “The sharing mechanism only works between encrypted clusters, so your data is encrypted at rest and encrypted in transit.”

Here’s the complete video interview, part of SiliconANGLE’s and theCUBE’s coverage of AWS re:Invent:

(* Disclosure: Stripe Inc. sponsored this segment of theCUBE. Neither Stripe nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.)

Photo: SiliconANGLE

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