BOSTON, MA--(Marketwire - September 2, 2010) - AuctionInc, the shipping calculation software brand of PAID, Inc. (
AuctionInc's software is now even smarter than previous versions that had already provided AuctionInc with a firm lead over the vast majority of carts and rate APIs in determining accurate package shipping rates.
"The dimension management upgrades to AuctionInc's packaging engine will determine the most cost-efficient package configurations to help online retailers reduce their shipping costs," said Doug Sherman, AuctionInc manager. "While this is beneficial to all retailers shipping product, this feature is particularly valuable to retailers who are providing free shipping, as they want to minimize the costs they are absorbing."
AuctionInc's packaging engine is now able to take the size of items (tracked as total item volume) into account when determining when it is necessary to "split" to the next package while processing the items in the shipment. As the number of packages in a shipment is the most critical factor in determining an accurate ship rate, this is a significant step forward. Using a variety of algorithms to determine the maximum available volume per service, along with item, carrier, and seller-configured data, AuctionInc's engine now appropriately splits when either a maximum weight or volume is reached.
Previously, dimensions were used to qualify individual items as shipping service-eligible, qualify items for various flat rate boxes, and determine if the size of the resulting packages were subject to "dimensional weight," oversized rates, or service ineligibility. AuctionInc's packaging splits (calculating how many packages are required to handle the items in the shipment), however, were primarily determined by item weights.
"PAID, Inc.'s AuctionInc™ ecommerce Shopping Cart with the new enhancements was featured as a shopping cart solution on PayPal's business landing page during the month of July," said Rich Rotman, PAID COO. "The exposure drove increased awareness of the AuctionInc Shopping Cart and attracted numerous new customers. PayPal provided this marketing opportunity to us as a result of our relationship with them and AuctionInc's participation in a number of their 'enhanced partner' programs."
About PAID, Inc.:
PAID, Inc., publicly traded under the ticker PAYD, is a one-stop brand management and marketing resource for 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.
Contact Information:
CONTACT:
For PAID, Inc.:
Julie Shepherd
Accentuate PR
+1-815-479-1833