Climate Change Data

OxPay Financial Limited

Climate Impact & Sustainability Data (2020, 2021, 2023)

Reporting Period: 2020

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

  • The Company reported a net loss of $1,281,000 during the period from 1 April 2020 to 31 December 2020.
Mitigation Strategies
  • Raising additional funds by way of additional share placements – S$600,000.00 from Mr Ching and S$4.0 million from new investors; Redeeming the December 2016 Bonds and April 2017 Bond; Generating future cash inflows from its business activities as a result of the completion of the RTO.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Period: 2021

Environmental Metrics

Total Energy Consumption:34,141 kWh/year

ESG Focus Areas

  • Prosperity and Growth
  • Ethics and Integrity
  • Our People
  • Our Environment

Environmental Achievements

  • Reduced energy consumption through flexible work arrangements and employee awareness campaigns.

Social Achievements

  • Provided mentorship for four students participating in Temasek Polytechnic’s Work-Study Certificate Programme.
  • Offered fair wages and comprehensive benefits to full-time employees.

Governance Achievements

  • Established a Code of Conduct and Whistleblowing Policy.
  • Maintained zero confirmed incidents of corruption, fraud, or other improprieties.
  • Maintained zero cases of data breaches and zero substantiated complaints regarding breaches.

Climate Goals & Targets

Long-term Goals:
  • Integrate sustainability into business strategies and operations.
  • Set a quantitative reduction target for energy consumption.
Medium-term Goals:
  • Zero cases of non-compliance with all relevant laws and regulations.
Short-term Goals:
  • Zero customer complaints.

Environmental Challenges

  • Addressing wrongful dismissal claims filed by former employees.
  • Improving data collection procedures for more comprehensive sustainability reporting.
Mitigation Strategies
  • Enhanced employment policies and procedures.
  • Exploring participation in Workforce Singapore and SGTech’s Career Conversion programme.
  • Improving data collection procedures to include more quantitative disclosures and targets.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Universal Standards 2021

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Not disclosed

Environmental Achievements

  • Not disclosed

Social Achievements

  • Not disclosed

Governance Achievements

  • Not disclosed

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Stabilisation of existing business operations in Singapore, Malaysia and Thailand, while simultaneously enhancing its service offerings to attract a larger customer base.

Environmental Challenges

  • Termination of the PayFac Agreement by Worldpay.
  • Decrease in sales for the Group’s Merchant Payment Service (MPS) in Thailand and Digital Commerce Enabling Solutions (DCES) business segments, resulting from lower sales in prepaid cards in Malaysia and termination of an acquirer bank in Thailand.
Mitigation Strategies
  • Partnership with NomuPay to offer integrated payment solutions in four markets in Southeast Asia and Hong Kong.
  • Secured approval from the Monetary Authority of Singapore (“MAS”) to offer e-money and account issuance services.
  • One-year collaboration with Green Link Digital Bank Pte. Ltd. (“GLDB”) to explore opportunities in merchant acquisition.
  • Agreement with DCS Card Centre Pte. Ltd. (“DCS”) to be their payment facilitator to process credit cards and charge cards issued by DCS, and resume international payments through Visa, Mastercard, Diners Club International and China UnionPay.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Not disclosed

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: Global Reporting Initiative Standards

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed