Coronavirus: Fintech startup PayNearby launches job registry for migrant workers

By Press Trust of India|1st May 2020
Keen to combat the burgeoning issue of loss of daily earnings and jobs of thousands of migrant workers across India due to the coronavirus lockdown, fintech startup PayNearby has launched JobsNearby, a platform to help blue-collar migrant workers in urban areas find work.
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Fintech company PayNearby on Thursday said it was launching an assisted job registry that will help migrant workers who have been affected by the coronavirus pandemic lockdown to seek gainful employment.


'JobsNearby' was set to be launched on the occasion of International Workers Day on May 1.


Registrations can be done through the fintech company's nine lakh agents across the country. It has tied up with banks, NGOs, global foundations, and other aggregators, where registered workers can then be placed.
The migrant workers setting out on foot to their hometowns became a common sight following the national lockdown


The fintech startup aims to combat the burgeoning issue of daily earnings and job losses of thousands of migrant workers across the country.


Pre-lockdown remittances accounted for Rs 1,500-2,000 crore each month for PayNearby, and around Rs 10,000 crore for the entire industry. The startup has has seen a decline of more than 80 percent, reflecting loss of earnings for this segment.


Through its vast network of more than nine lakh retail touchpoints, spread across 17,000-plus PIN codes in the country, the startup aims to create a platform where out-of-job workers can register themselves and find suitable placement.


Anand Kumar Bajaj, MD and CEO at PayNearby, said, "With JobsNearby, we hope to ensure that these workers and their families are not left bereft and can regain their dignity and livelihood. Through our database, we hope to provide these workers with an opportunity to rebuild their lives, without having to compromise on their skills."


PayNearby said job seekers can register for various kinds of roles that were available earlier apart from other roles that can be accommodated as per their skill set, also allowing them to select a location as per their choice. These job data points will then be collated and sent to job supplier agent networks and employers, it said.


This initiative is an attempt to create a platform that is apt for blue-collar migrant workers in urban areas, PayNearby said.


The company is engaged in providing Aadhaar-based banking services, domestic remittances, bill payments, card payments, insurance services, among others to the underbanked and unbanked.


(Edited by Teja Lele Desai)

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