A method and apparatus for information exchange, and a delivery terminal. A broadcast packet is received, which is periodically sent by a smart wearable device through short-range wireless communication, and the broadcast packet includes a delivery identifier of a commodity purchased by a user. The broadcast packet is parsed to obtain the delivery identifier. The delivery identifier is sent to a network side, so that the network side validates the delivery identifier. When the delivery identifier is valid, commodity information corresponding to the delivery identifier is acquired. A commodity is dispensed corresponding to the commodity information. A user who purchases a commodity online can pick up the commodity from a delivery terminal in a self-service manner.