SponsoredIn partnership withStarTree During Black Friday in 2024, Stripe processed more than 31 billion in transactions, with processing rates peaking at 137,000 transactions per minute, the highest in the companys history. The financial-services firm had to analyze every transaction in real time to prevent nearly 21 million fraud attempts that could have siphoned more than 910 million from its merchant customers.
Yet, fraud protection is only one reason that Stripe embraced real-time data analytics. Evaluating trends in massive data flows is essential for the companys services, such as allowing businesses to bill based on usage and monitor orders and inventory.
In fact, many of Stripes services would not be possible without real-time analytics, says Avinash Bhat, head of data infrastructure at Stripe. We have certain products that require real-time analytics, like usage-based billing and fraud detection, he says.
Without our real-time analytics, we would not have a few of our products and thats why its super important. DOWNLOAD THE REPORT Stripe is not alone.
*Reporting by Technologyreview.*
