GetSwift and Commonwealth Bank sign exclusive partnership

Commonwealth Bank GetSwift GSW partnership

GetSwift Limited (ASX: GSW), the SaaS solution company that optimises delivery logistics world-wide, has announced that it has signed an exclusive multiyear partnership with Australia’s leading financial institution Commonwealth Bank.

Commonwealth Bank of Australia has partnered with GetSwift to offer retail merchants the ability to compete with their global counterparts when it comes to deliveries and logistics.

The exclusive partnership will allow CBA’s retail merchants to access an affordable best in class logistics platform to continue to improve their customer experience in distributing their goods.

Initially, it will benefit merchants and consumers in two ways:

1) It will turn every Albert POS vendor into a delivery-ready store- automatically queueing, batching, routing and dispatching the delivery of any good purchased using an Albert POS. This process will be seamlessly managed by the terminal, and the delivery will be outsourced to either existing logistics companies on the GetSwift network, or the merchant’s inhouse delivery team.

2) By arming delivery drivers on GetSwift’s network with an Albert platform POS terminal/and associated devices, it will now allow for consumer to pay for goods on arrival as opposed to paying for them ahead of time, incentivising better delivery processes and reduced wait time.

As our customers continue to use emerging online retail services, we believe we also have a role to play in enhancing that experience.

GetSwift estimates the deal will result in over 257,400,000 deliveries on its platform over the next five years, with an estimated aggregate transaction value of $9 billion.

“This is a game-changer for the Australian retail sector and the country’s leading bank is charting new territory here,” Executive Chairman of GetSwift, Bane Hunter said.

“This integration will take delivery from being a fringe benefit to a norm for Australian retail, and will usher in a new era convenience for shoppers.”

“For vendors, it’s a cost effective way of tackling the threat from Amazon, Foodora, UberEats, Deliveroo and other global technology companies attempting to capture this space, and charge retailers a significant premium for the benefit of what is becoming an expected service.”

CBA will work with GetSwift to develop new and innovative solutions through the Albert terminal and other devices, where a payments terminal can even be a GPS tracker of the goods. Rollouts will commence shortly to selected markets with a full national deployment expected to be in place in 2017.

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