FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company, today announced a strategic alliance with Wirecard, a leading international provider of digital financial technology, to offer an increased number of local access points and expand its retail footprint in India. In the first phase, FedEx launched operations across 200 of Wirecard’s retail agent outlets and will expand to 1,000 locations within the Wirecard SmartShop network by the end of 2018.
The association with Wirecard is part of the retail expansion through the FedEx Authorized Ship Centre (FASC) program, which provides customers with convenient and secure pickup and drop-off services. Some 200 of Wirecard’s retail agent outlets offering FedEx services are already in operation across five states of South India and New Delhi. This is in addition to the existing 680 FedEx retail access points across India.
Throughout 2018, the number of outlets – within Wirecard’s more than 150,000-location strong SmartShop network – offering FedEx services will grow rapidly. Wirecard’s SmartShop network spans across the entire Indian sub-continent and provides consumers with digital financial services and ancillary products relevant for their daily lives. Wirecard offers its services through this network, close to where its customers live or work.
“Retail is one of India’s fastest growing sectors, and is projected to grow from USD 70.45 billion in 2016 to USD 111.25 billion in 2019. Wirecard, with its robust network of retail outlets and a wide base of customers, is an ideal fit for FedEx and provides customers with enhanced access to our international and domestic shipping solutions. With this alliance, FedEx customers can now take advantage of package pickup and drop-off services across select Wirecard SmartShop network stores,” said Philip Cheng, Vice President, Ground Operations for FedEx Express in India.
“We are delighted to be working with FedEx Express and to further increase our portfolio of products and services for our consumers, which are convenient and relevant in their daily lives,” said Georg von Waldenfels, Executive Vice President Consumer Solutions and Member of the Board of Wirecard in India. “To add shipping services to our existing digital financial products like payment services for travel and utilities or remittances, supports our mission and growth strategy in India.”
Since entering the market as an independent service provider in 1997, FedEx has continued to strengthen its international and domestic services in India. In addition to the global air and ground network in 220 countries and territories, FedEx operates a comprehensive ground transportation system with more than 1,000 vehicles that connect more than 19,000 pin codes across India with services that effectively covers 90% of the country’s GDP.