STACS partners with Razer to enhance transparency in the carbon credits lifecycle with end-to-end traceability of high-quality carbon offsets
The partnership empowers Razer customers globally to engage in conscious choices and participate in carbon offsets, through its newly-launched Restorify service.
SINGAPORE, 8 November 2022 –
Hashstacs Pte Ltd (‘STACS’), a leading Singapore-headquartered environmental, social, and governance (‘ESG’) FinTech firm today announced its partnership with Razer Inc. (‘Razer’), the leading global lifestyle brand for gamers, to launch Restorify, an e-commerce service with traceable carbon neutral checkout. Led by Razer fintech, the company’s financial technology arm, Restorify aims to empower Razer customers to practice responsible consumerism and allows them to offset purchases using digital technology powered by STACS. It is further integrated with STACS’ ESGpedia digital registry, which powers the Monetary Authority of Singapore’s (‘MAS’) Greenprint ESG Registry.
The partnership was announced by Razer on 8th November 2022. Restorify allows Razer customers to engage in individual carbon offsets when purchasing Razer products. These individual offsets transactions would be digitally recorded onto the ESGpedia registry, thereby enhancing the traceability and transparency of the entire carbon credit value chain: from origination to retirement of every single transaction, even down to fractional ones, upholding integrity of the credits.
By having every individual transaction digitally captured throughout its lifecycle up to its retirement, consumers can get a truly complete view of the individual offset transactions that they have participated in. This transparency is currently otherwise lacking in today’s consumer carbon offset market.
Technology behind the partnership
The partnership is powered by STACS’ Carbonpal platform, which is a carbon credits digital management platform that facilitates the fractionalisation of carbon credits for purchase by end consumers. It helps to track the flow of transactions from merchants to consumers, and records key attributes of the carbon credit projects such as country, project type, quantity, vintage year etc. These fractionalised transactions from Carbonpal are linked to ESGpedia where the carbon credit module would be made available for viewing by the public to track their carbon offset efforts on an individual level, along with transaction and project information aggregated from the various carbon credit registries.
Benjamin Soh, Managing Director at STACS, said:
“At STACS, we aim to enable corporates of all sizes to navigate the opportunities in going green via holistic ESG data and technology. We are honoured to be partnering Razer in its journey towards spearheading sustainability amongst consumers via enhancing transparency in its carbon credits processes. This is a step in the right direction as STACS moves towards enabling greater transparency and traceability in the end-to-end carbon credits lifecycle with our ESGpedia registry and Carbonpal platform.”
Future phases include Razer and STACS offering partner merchants the Restorify service to participate in such offset of their carbon footprint with their consumers, as well as the general decarbonisation throughout their supply chain, with a deeper partnership on ESGpedia.
For further information, please contact:
Grace Lim, Senior Marketing Manager
Phone: +65 8511 7770
Email: [email protected]
For more information, please visit our website at merchant.razer.com.
Merchants interested in online payment services, may email us at [email protected].
Merchants interested in offline reloads, may email us at [email protected].
STACS (Hashstacs Pte Ltd) is a Singapore-headquartered FinTech company focused on ESG FinTech, operating ESGpedia, which powers the Monetary Authority of Singapore’s (MAS) Greenprint ESG Registry. STACS serves as the Nexus of ESG Finance with ESG data across multiple industries and digital tools for the financial sector to scale decarbonisation financing, as well as a platform to provide high-quality carbon offsets to mitigate residual emissions. Its clients and partners include global financial institutions and corporates. STACS is an Award Winner of the MAS Global FinTech Innovation Challenge Awards 2020, and a two-time awardee of the Financial Sector Technology and Innovation (FSTI) Proof of Concept (POC) grant, under the Financial Sector Development Fund administered by the MAS. For additional information, please visit www.stacs.io.
Razer is the world’s leading lifestyle brand for gamers.
The triple-headed snake trademark of Razer is one of the most recognized logos in the global gaming and esports communities. With a fan base that spans every continent, the company has designed and built the world’s largest gamer-focused ecosystem of hardware, software and services.
Razer’s award-winning hardware includes high-performance gaming peripherals and Blade gaming laptops.
Razer’s software platform, with over 200 million users, including Razer Synapse (an Internet of Things platform), Razer Chroma RGB (a proprietary RGB lighting technology system supporting thousands of devices and hundreds of games/apps), and Razer Cortex (a game optimizer and launcher).
Razer also offers payment services for gamers, youth, millennials and Gen Z. Razer Gold is one of the world’s largest game payment services, and Razer Fintech provides fintech services in emerging markets.
Founded in 2005, Razer is dual headquartered in Irvine (California) and Singapore, with regional headquarters in Hamburg and Shanghai. Razer has 19 offices worldwide and is recognized as the leading brand for gamers in the US, Europe and China.
About Razer Fintech
Razer Fintech is the financial technology arm of Razer Inc. Established in April 2018, Razer Fintech has grown to become one of the largest O2O (offline to online) digital payment networks in emerging markets and has processed over billions of dollars in total payment value. Razer Fintech recorded a Total Payment Volume (TPV) of US$7 billion for FY 2021, representing an increase of 63.5% year-on-year.
RMS, a leading B2B (business-to-business) solution encompasses:
RMS Online: Card processing gateway supporting global scheme cards and over 110 payment methods, powering online payments for global and regional blue-chip merchants in SEA.
RMS Offline: SEA’s largest offline payment network of over 1 million physical acceptance points across SEA. RMS Offline also extends point-of-sale services (such as bill payments and telco reloads), cash-over-counter services including fulfilment of e-commerce purchases, distribution of third-party point-of-sale activation (POSA) cards, and merchant acquiring services for third-party e-wallets.