The FedEx (V2) option is a newer integration that will allow you to select from a greater number of shipping configurations than the previous (V1) version. As the older version will be phased out, all customers should use FedEx (V2). This applies both to newly created Shipping Methods, and existing Shipping Methods which you will need to reconfigure.
FedEx requires that each print service provider (in this case, you) get their own “Dev Key” and password.
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