Software company GetSwift Ltd
(ASX:GSW) has signed an exclusive multiyear partnership with Commonwealth Bank
(ASX:CBA).
GetSwift has partnered with CBA to offer the bank’s retail merchants an optimised delivery logistics platform.
GetSwift’s offering is a software-as-a-service platform which helps businesses with logistics – particularly when it comes to online sales. The tagline on GetSwift’s website is “Dispatch like Uber, track like Dominos, and set routes like FedEx”.
Currently, CBA retail merchants use a 7-inch Android tablet called ‘Albert’, which allows PayWave and PayPass contactless transactions. The CBA-GetSwift deal will add an extra function to Albert – so that it also queues, finds routes and dispatches deliveries to consumers. The software company says this is a cost-effective way to compete with Amazon, Foodora and UberEats when it comes to deliveries.
GetSwift expects this deal to result in over 257.4 million deliveries on its platform over the next 5 years – with an aggregate transaction value of $9 billion.
This morning, GetSwift shares have risen 26.5% to 62 cents.
