AuctionInc ShopCart Addresses Online Shopping Cart Abandonment Reason Cited in PayPal Study

Want another shot at the 40% of online customers who said in a PayPal survey that they might complete their online purchases if they have shipping costs upfront? Paid, Inc.’s (OTCBB: PAYD) AuctionInc™ ShopCart™ software and its related enterprise and retail software products deliver accurate, real-time shipping costs to the customer throughout the shopping process, updating shipping costs as items are added to or removed from the online shopping cart. Customers can easily see how little costs increase by adding certain items – which can encourage additional purchases in the same order.

According to the survey, high shipping costs were cited as the largest single reason for shopping online cart abandonment, but the survey found that providing shipping costs upfront might have caused 40 percent to complete their purchases. Since 2001 Paid’s products have been at the forefront of online shipping calculation, first with their patented shipping calculations for online auctions, and then the ShopCart product and its related enterprise and retail software products for ecommerce that have offered the ability to compare shipping costs among all the major carriers’ shipping options. The product line has been enhanced year after year with new features including; shipping insurance costs where appropriate; the option to add special packaging or handling charges on an item-by-item basis, such as for very fragile or oversize items; and tax calculation where appropriate.

“Since the advent of ecommerce, online shoppers have been concerned with shipping costs because it is a very visible and tangible cost for them and they don’t want to be surprised by it late in the shopping process or be overcharged,” said Rich Rotman, COO of Paid, Inc. “We developed the AuctionInc ShopCart software and API to effortlessly provide shoppers the transparency of seeing how specific items or shipping carrier options impact shipping charges as they are added to the online shopping cart. At the same time, it passes on the real costs of shipping to the consumer so it doesn’t eat into the merchant’s profits.”

He added, “A major advantage of our AuctionInc software is our advanced ‘Packaging Engine,’ which intelligently determines how to minimize shipping costs by packaging items into the appropriate number and size of packages, taking into account carrier limits and account configuration settings. This helps encouraging customers to purchase more items in the same order to take advantage of reduced shipping costs.”

In sharp contrast to merchants that utilize flat-rate shipping components based on number of items or total order price, ShopCart uses the customer-provided destination zip code to calculate the true shipping cost that the carriers charge to ship the item via the delivery option selected.

Paid’s ShopCart™ API is provided on a standard XML platform for ease of integration into the customer’s custom or opensource cart or product, and is available for both single seller (SS version) and multiple seller (XS version) scenarios. In real time, ShopCart™ users and their online customers procure accurate rates from all major shipping carriers while administrative users can gain direct access to multiple data levels for inspection of shipping rate components and packaging detail. (See press release on recent product upgrades: http://finance.yahoo.com/news/Paid-AuctionInc-Industrys-bw-1553767113.html?x=0&.v=5 )

Complete information on Paid’s entire AuctionInc™ product line is available at www.AuctionInc.com. For additional information, contact Doug Sherman, Paid Inc., doug {at} paid(.)com, (866) 323-8833.

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.
Contacts

Julie Shepherd, Accentuate PR
+1.815.479.1833
Julie {at} paid(.)com