Boston, MA – January 4, 2012 -- The New Year means new shipping rates kick in for the major carriers, and PAID Inc’s (OTCBB: PAYD) AuctionInc shipping calculation software makes the change painless (from a technical perspective, anyway!). New rates for UPS, FedEx and DHL began as of Monday, January 2nd, and the US Postal Service (USPS) will increase rates for package services and flat rate boxes on Jan. 22. AuctionInc makes the transition seamless by automatically calculating shipping charges with the new rates without requiring customers to download any updates or upgrades to their existing subscription, stated AuctionInc Product Manager Doug Sherman.
“While we can’t do anything about the increases themselves, we can at least make their implementation as smooth as possible,” Sherman said. “Using AuctionInc enables sellers to offer their customers highly accurate comparative rates across carriers, minimizing the impact of the higher rates on sellers’ sales.”
All of PAID’s AuctionInc software solutions, including ShopCart, Mals Plug-in, ShipCalc, eBay calculator AiShip, and the Shipping Rates API, incorporate an intelligent packaging engine that uses patented and patent-pending technologies developed by PAID, Inc. The AuctionInc packaging engine delivers accurate shipping costs across UPS, FedEx, DHL and USPS.
AuctionInc also now supports new UPS rates implemented for newer UPS daily pickup customers. Parties that became UPS customers with daily UPS pickup in 2011 are subject to higher rates for air services, called “standard” rates, than all pre-2011 UPS daily pickup customers who receive “daily” rates. AuctionInc supports both pricing structures. AuctionInc users under the new UPS “standard” rates, can access “standard” rate calculations by logging into their AuctionInc account and going to the Carrier Settings page. On the UPS tab, pick the Entry Method titled "Daily Rates (UPS account after 1-3-2011)."
AuctionInc software makes it easy for retailers to offer customers accurate comparisons of shipping rates across the major carriers in real time as they put each item in their shopping cart. Sharing that information throughout the shopping process eliminates the unpleasant surprise of added shipping charges at checkout, decreases shopping cart abandonment and encourages additional purchase when shoppers see how insignificantly additional products increase the shipping cost.
AuctionInc shipping calculations feature the following functionalities that provide an unmatched advantage over competitors’ systems:
- robust packaging logic,
- collection of many item variables that impact shipping costs,
- drop-shipping support,
- accessorial fee support, and
- accounts for method of delivery of package to the carrier, (which impacts fees by as much as 30%).
AuctionInc also provides free add-on modules for some popular open-source carts, allowing for a quick and easy implementation of a paid subscription to the AuctionInc Shipping Rates API (available at www.auctioninc.com). Using the AuctionInc API, its shipping calculation technology can be integrated into any cart or auction platform.
You can read more about the 2012 rate increases for each carrier here: UPS, FedEx, DHL, USPS and an article from Parcel Industry analyzing the UPS/FedEx increases: Rate Increase Analysis.
About PAID, Inc.:
PAID, Inc., publicly traded under the ticker PAYD, is a one-stop brand management and marketing resource to music, entertainment and sports personalities and organizations, and offers AuctionInc™ online shipping calculation and shopping cart software employing its patented technology to streamline ecommerce. Known for quality and customer service, PAID offers turnkey online, mobile, social media and traditional marketing campaigns, as well as award-winning video & film production, VIP ticketing, web site design, merchandising, ecommerce and fan community management programs. More details are available at www.paid.com.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995:
Statements in this news release looking forward in time involve risks and uncertainties, including the risks associated with the effect of changing economic conditions, trends in the markets, variations in the company's cash flow, competition, celebrity programs, business development efforts, technology availability and cost of materials and other risk factors. Factors that could cause actual results to differ materially are discussed in the Company's most recent filings with the Securities and Exchange Commission.