SOURCE: Paid, Inc.

PAID, Inc.

January 25, 2016 09:00 ET

PAID, Inc. Announces Letter of Intent with emergeIT Inc.

WESTBOROUGH, MA--(Marketwired - January 25, 2016) - PAID, Inc. (OTCQB: PAYD) today announced it has agreed to terms and executed a non-binding Letter of Intent with emergeIT Inc. a privately held Canadian based shipping technology company. Under the proposed combination joint leadership will be held by Allan Pratt, President and CEO of emergeIT Inc. and W. Austin Lewis IV the current CEO, CFO for PAID, Inc.

"This step in our discussions to combine the two companies will create great momentum for PAID, Inc. We have been in the shipping calculator industry for over 15 years and this is a good opportunity to possibly partner with a company that shares our technology vision and future goals." stated Austin Lewis, PAID's CEO. "We look forward to the growth opportunity for PAID and its shareholders."

emergeIT, branded ShipTime, is partnered with several Canadian and global carriers and offers a web-based platform tailored to small business users. Thousands of users can quote, process, track and manage all their small package and LTL shipments in one application while benefiting from great discounts from brand name carriers. ShipTime was founded with a Heroic Support™ team as its core focus.

"With Austin and the PAID team we are excited to discuss the combination of two great shipping technologies into one best of class product." stated Allan Pratt, emergeIT's CEO. "The growth potential into the United States channels is key to ShipTime and we are optimistic that a mutual agreement with PAID will help us reach this goal."

About PAID:
PAID Inc. offers AuctionInc online shipping calculation and shopping cart software employing its patented technology to streamline eCommerce. PAID is known for its quality and customer service and offers turnkey online tools and services that enable their customers to customize a solution that is right for them. More details are available at www.paid-corp.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, the successful monetization of the patent, 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.