Overview
Traditional USSD or SMS voting can often be slow, unreliable, and costly due to network issues and message delivery failures. In contrast, Virtual Bank Account (VBA) voting provides a faster, more transparent, and seamless experience. Instead of relying on telecom services, each contestant is assigned a unique virtual bank account number. Fans vote by transferring money directly to that account, and each transfer is instantly recorded as a vote.
Example with Providus Bank Virtual Accounts
Suppose five contestants are in the competition. Each contestant receives a Providus Bank Virtual Account number:
- Contestant A – 1234567890
- Contestant B – 1234567891
- Contestant C – 1234567892
- Contestant D – 1234567893
- Contestant E – 1234567894
When a fan transfers funds to Contestant B’s account, it is instantly counted as a vote for Contestant B. This ensures speed, accuracy, and full transparency.
How It Works
1. Fans Send Money
Supporters transfer funds as their votes.
2. Virtual Bank Account
Each contestant has a unique Providus Bank account.
3. Instant Confirmation
Every transfer is received in real time.
4. Votes Counted
The contestant’s vote tally updates automatically.
Why use virtual bank account voting?
- Real money = real votes: Each vote is backed by an actual bank transfer for transparency.
- Automated & instant: Webhooks from payment providers update vote tallies in real time.
- Audit trail: All transactions are logged for financial reconciliation and anti-fraud checks.
- Monetization: Event organizers earn revenue from voting — our revenue share splits earnings 60% to Owner and 40% to platform unless otherwise agreed.
- Unlimited competitions: Annual subscription of ₦250,000 allows unlimited contests within the 12‑month subscription period.
- Instant withdrawals: Owners may withdraw their share anytime via the dashboard (subject to bank processing times).
How it works — step by step
- Subscribe: Pay the annual fee of ₦250,000 to activate the owner account.
- Create competition: Add contestants, set timelines, upload images and details.
- Assign VBAs: System automatically provisions unique virtual accounts for each contestant (via our banking partner).
- Set unit price per vote: Choose ₦30, ₦50, ₦100 or ₦200 — this converts transfer amounts into vote counts.
- Collect votes: Fans transfer any amount; the system calculates votes = floor(amount / unit_price).
- Real-time results: Live leaderboard updates on your public results page and admin dashboard.
- Withdraw funds: Owner withdraws accumulated revenue anytime; platform takes 40% cut automatically and remits owner share to their linked bank account.
Unit pricing & vote conversion
Available unit vote amounts (select per competition): ₦30, ₦50, ₦100, ₦200. Transfer amounts are converted using the formula:
votes = floor(transfer_amount ÷ unit_price)
Example: If unit price is ₦50 and a supporter transfers ₦350, they contribute 7 votes (350 ÷ 50 = 7).
Fees & revenue share
| Item | Detail |
|---|---|
| Annual Subscription | ₦250,000 — run unlimited competitions for 12 months |
| Vote Unit Prices | ₦30, ₦50, ₦100, ₦200 (selected per competition) |
| Revenue Share | 60% to Owner, 40% to Platform (infoTek) |
| Withdrawal | Owner can withdraw funds anytime via dashboard. Bank processing times apply. |
Live Results & Revenue Dashboard
Your subscription includes a powerful admin dashboard with:
- Live leaderboard and per-contestant vote breakdown.
- Real-time revenue monitor showing gross collections, platform share, owner share, and pending withdrawals.
- Transaction logs & export (CSV/PDF) for reconciliation.
- Contest settings (unit price, start/end time, regional filters).
- Audit & anti-fraud tools: duplicate transfer detection, manual review queue.
Security & Compliance
We prioritize security and compliance:
- All webhooks and APIs use HTTPS with HMAC or signature verification.
- Transaction logging for audit and chargeback resolution.
- GDPR-style data care: we store personal data securely and only as required for operations.
- Fraud detection heuristics to flag suspicious behaviour (rapid-fire transfers, micro‑amount spamming, account spoofing).
Optional Add-ons
- SMS & Email notifications to contestants and organizers on vote milestones.
- Public results page with embeddable leaderboard widget.
- Custom branding for the dashboard and public pages.
- Integration with event ticketing or donation platforms.
Frequently Asked Questions (FAQ)
- Q: Can fans transfer any amount?
- A: Yes — they can transfer any amount. The system converts the amount into whole votes using the chosen unit price; leftover change is retained as balance and can be included in withdrawals. Example: a ₦70 transfer at ₦50 unit = 1 vote, ₦20 balance recorded.
- Q: Are transactions reversible?
- A: Bank chargebacks/refunds are handled per banking partner rules. We maintain transaction logs and will work with you to reconcile any disputes.
- Q: How fast are results updated?
- A: Typically within seconds — webhooks from payment partners notify our system instantly and the leaderboard updates in real time.
- Q: Who receives the 60% owner share?
- A: The owner account (the subscriber) receives 60% of net collections per contest. Platform fees and any banking charges are deducted before revenue split, unless otherwise agreed.
- Q: Can I run multiple contests at the same time?
- A: Yes — unlimited concurrent contests are supported during your subscription period.
How to Get Started
- Purchase the annual subscription: ₦250,000.
- Verify your organization/owner details and provide KYC documents as required by our banking partner.
- We will create your first competition in the admin panel, add contestants and set your unit price per vote and then hand over the dashboard to you.
- Publish the public voting link and start collecting votes.
Need help? Contact our sales team at sales@infotekps.com or call +2348132878945.
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