eLockr Introduces ‘Merit’ to Revolutionize Gig Economy and Prevent Frauds through Network Verification

~ Enhancing Gig Workforce Onboarding Processes with Merit ~

Delhi, India (December 16^th, 2024) - eLockr, a leading provider of Verifiable Credentials (VCs) for ex-employees and contractors, introduced an innovative platform, ‘Merit’, designed to transform peer verification and the onboarding of the gig workforce. Merit leverages a “network-based” approach to behavioral reference checks, using references issued at the time of an employee’s or a contractor’s exit by their previous organization and verified when they join a new one. By enabling organizations to onboard reliable and trustworthy gig workers for last-mile delivery operations, Merit addresses the critical need to reduce risk and enhance workforce reliability.

According to the NITI Aayog report on India's booming gig and platform economy, the gig workforce is expected to expand to 2.35 crore (23.5 million) workers by 2029-30. However, a recent report by Oorwin highlights a significant pain point: with an average hiring time of 32 days, companies are actually taking longer than necessary to hire a candidate.

Merit by eLockr, therefore, revolutionizes the gig economy with advanced solutions such as:

●       Fraud prevention through network verification - eLockr reference check (or EREF) ensures authenticity via a robust network-based verification system.

●       Quick onboarding - Instant verification that streamlines and accelerates the hiring process.

●       Add-on verifications that provide additional layers of verification including ID checks (DL, Vehicle RC, Aadhaar, PAN), face matching, bank account verification, as well as criminal record screenings.

With these features, Merit by eLockr enables organizations to effectively onboard gig workers in a trust-and compliance-enabling manner.

Piyush Peshwani, co-founder and CEO at OnGrid & eLockr said, “At eLockr, our vision is to build a trusted and efficient gig workforce economy by leveraging cutting-edge technology for seamless behavioural checks that is also compliant with the DPDP Act. The rise of gig platforms and quick-commerce has introduced unique challenges, such as fake ID, repeated offenses by gig workers across companies, collusion frauds in dark stores, among others, which can result in severe financial and reputational risks for organizations. Merit by eLockr addresses these issues head-on with its network-based verification and fraud prevention capabilities. An additional benefit is the empowerment of the blue-collar workforce that can use these credentials to establish their past digital employment records in order to access jobs and opportunities, thus achieving upward mobility in society.