Welcome to FedEx, the payments business.
Amazon may be taking on FedEx in its core delivery business, but FedEx is also beefing up its competition with Amazon, as well as digital payments companies the world over.
In an effort to capture a larger slice of the growing e-commerce market, FedEx re-launched its recently acquired Bongo International as FedEx CrossBorder, with an expanded offering of services to facilitate e-commerce. The company, now a subsidiary of FedEx Trade Networks, aims to simplify the cross-border e-commerce process for e-tailers through its integrated checkout and shipping approach. FedEx CrossBorder’s platform enables e-tailers to accept more than 80 different currencies through 15 different payment options, and then ship packages internationally with the option of letting FedEx handle customs and delivery. E-tailers can now send their orders directly to a FedEx site located within their country of operation, and from there FedEx CrossBorder can handle the shipment of the order to the customers’ international destinations.
FedEx generated $12.7 billion of revenue last quarter, an 8.5% increase over the same quarter in 2015.1 - Reader Likes This Post