No-code payments data ingestion for Snowflake.
By Marco Conte
Data storage services are abundant and essential to the payment industry. Snowflake and companies alike offer services from data ingestion to storage. However, complexities still lie within a company’s internal processing and handling of this data. Congrify offers simplicity and ease with a no-code payments data ingestion solution, directly compatible and easily synchronizable with any Snowflake account.
The complexity around payment data
Payment data is a daily essential for professionals working in finance, accounting, controlling, and payment operation teams for different needs focused on revenue increases, costs analysis, and optimization. Additionally, this data aids in ensuring correct financial reconciliation between the money received from payment service providers (PSPs) and the expected amounts based on internal booking engines or ERP systems.
Consequently, payment data is no stranger to complexity. We see payment professionals deal with the massive daily influx of data, partially relying on available data automation, yet still having to directly access multitudes of files and reports from PSPs’ web portals and dedicated file transfer protocols. From there, analysis shifts to Excel, with users spending hours trying to organize, analyze, and understand PSP offered data to obtain desired insights and answers.
Most merchants have multiple connections to PSPs, wallets, or provider solutions. Therefore the data ingestion process to data warehouses like Snowflake needs to involve diverse data sources with different data extraction methodologies, often requiring data manipulation, format standardization, and the creation and management of different data schemas. This work then requires collective interventions from payments experts, system architects, data engineers, software engineers and business analysts/product owners. Especially when multiple reports are consumed per payment data source, the process becomes extremely complex and time-consuming.
Ideally merchants would use state-of-the-art processes leveraging data pipelines and tools allowing automated Extract, Transform, and Load processes (ETLs). However, these setups require considerable amounts of investment, time, and effort; achieving suboptimal results while requiring intense attention and maintenance over time.
Our no-code solution
The Congrify team has experienced first-hand the different issues related to accessing payment data. Working with a wide range of merchants and design partners, we’ve decided to completely eliminate the struggles behind building up ETL processes to collect information from different PSPs. Instead we manage and maintain it, ensuring an uninterrupted data ingestion process while any changes in data structure or reporting availability are accurately and efficiently dealt with.
Additionally, users won’t need to refer to an external business intelligence solution, rather, receiving full, direct access to any necessary data aiding in the creation of different dashboards to be implemented into their already existing business intelligence technology stack. By utilizing this service companies will be able to fully access:
- Comprehensive Payment Management Reports
- Advanced Financial Reconciliation and Accounting
- Extensive Fee and Cost Analysis
- Performance and Conversion Rates Monitoring
- Internal Benchmarking Across Multiple PSPs
- Fraud and Chargebacks Investigation
- Customer Payment and Behavior Analysis
How it works
Depending on the PSP, Congrify will access the payment data and available reports by synchronizing the extracted and optimized data directly with the customer’s Snowflake account. Let’s take an example where a merchant wants to connect their Ayden and PayPal accounts, going live with the Data Pipeline integration with Snowflake takes just a few minutes.
The first step would be to allow Congrify to access PayPal’s and Adyen’s reports.
All the credentials are securely stored and encrypted.
After this quick data pipeline synchronization, a listing in Snowflake will be created to securely share the dedicated tables where the payment service providers’ reports are stored.
Once the account is provided and the data share is accepted, the data pipeline will be live!
The entire process will only take a few minutes, compared to the several months or years needed to build a system from scratch, especially when involving multiple PSP connections.
Learn More
In the constantly evolving industry of payments, staying up to date with the newest services and innovations are essential. Congrify offers an essential variety of services, allowing you to sync your data from Snowflake and companies alike with ease and efficiency. Join Congrify today to maximize your competitive advantage!
To learn more about seamless data collection and ingestion from multiple PSPs into your Snowflake data warehouse, take a look at our dedicated product page here or contact us today to schedule a demo.