Codat adds one of the world’s largest payment processing platforms to its Core product.
This highly anticipated integration with Stripe will allow Codat to further support our clients and their business customers by providing additional insight not currently available via accounting integrations, such as customer, sales activity, disputes (including chargebacks) and inventory information.
The new integration will bring our total number of supported commerce data sources to 4, following the release of Square, Shopify and Zettle by PayPal.
Coverage
Stripe is an international online payment processing platform that handles credit card payments and charges. It is one of the largest in the world with over 2,000,000 merchants using its platform, the majority of which are fast-growing SMEs.
The platform is growing rapidly and is currently available in 43 countries, following the official launch of services in the Czech Republic, Romania, Bulgaria, Cyprus, and Malta in 2020.
What data are we pulling?
The following data can be accessed using the Codat API:
Orders — details of all orders received by a company, including payments, service charges, and refunds.
Transactions — details of all financial transactions recorded in the system.
Products — details of the products a company has available in the system, including the price and quantity of those products, and product variants (where available).
Customers — details of customers who have placed orders with the company.
Disputes — details of all transactions that customers have challenged.
Who will stand to benefit?
This integration can be used to access up-to-date commerce information from merchants, enabling lenders and insurers to enhance underwriting and credit decisioning practices, including by minimising instances of fraud by cross-referencing immutable data with other sources of information (such as accounting data).
In addition, banking & cash management clients can use this integration to offer their customers the ability to view detailed sales & payouts information: enabling them to gain more clarity on their finances.
What’s next?
Codat’s aim is to work with Stripe to continually add to its capabilities. We want to ensure that the SMEs that use Stripe are able to access the full suite of financial services through their ability to quickly and accurately contribute their financial data.
We have ambitious plans to continue to expand our coverage to include a number of other commerce data sources in the near future, Visit our Product Roadmap for more information about our future plans or to request additional data types for existing integrations.