Everything you need to know about payments, billing, and prize distribution on Competition Platform.
Competition Platform accepts various payment methods to make transactions convenient for users worldwide:
Pro Tip: Save your preferred payment method in your account settings for faster checkout when hosting competitions or purchasing premium features.
Go to your profile and select "Payment Methods" from the account menu.
Click the "Add Payment Method" button and select your preferred payment type.
Fill in the required information. All data is securely encrypted.
Choose whether to make this your default payment method for future transactions.
Important: Competition Platform will never ask for your payment information via email or direct message. Always ensure you're on our official website before entering payment details.
When hosting a competition on our platform, the following fee structure applies:
| Plan Type | Base Fee | Platform Fee | Features |
|---|---|---|---|
| Basic | $49 | 5% of prize pool | Standard features, 30-day listing |
| Professional | $99 | 3% of prize pool | Advanced features, 60-day listing, featured placement |
| Enterprise | Custom | Negotiable | All features, custom duration, dedicated support |
Competition hosting fees are charged at the time of competition creation. For subscription-based services:
Pro Tip: For large competitions with significant prize pools, contact our sales team to discuss custom pricing options that may reduce your overall platform fees.
When you win a competition, here's how the prize distribution process works:
After the competition ends and judging is complete, winners are announced on the competition page and notified via email.
Winners must confirm or update their payment information within 7 days of the announcement.
Prize money is processed within 14 business days after payment information is confirmed.
Prizes are transferred to your preferred payment method. Bank transfers may take additional 3-5 business days to appear in your account.
Prize winnings may be subject to taxes depending on your location and the amount won:
Important: We recommend consulting with a tax professional regarding the tax implications of your prize winnings. Competition Platform cannot provide tax advice.
Our refund policy for competition hosting fees is as follows:
Available if the competition is canceled within 24 hours of creation and before any participants have joined.
Available if the competition is canceled within 72 hours of creation and has fewer than 10 participants.
No refund is available if the competition has been active for more than 72 hours or has 10+ participants.
For subscription-based services:
To request a refund:
Submit a refund request through the "Billing" section in your account or contact our support team.
Include your order/transaction ID, the reason for the refund request, and any relevant information.
Our team will review your request within 3-5 business days and notify you of the decision.
If approved, refunds are processed to the original payment method and may take 5-10 business days to appear.
Competition Platform takes payment security seriously. Here's how we protect your financial information:
All payment data is encrypted using industry-standard TLS/SSL protocols. Your sensitive information is never stored in plaintext.
Our payment processing adheres to Payment Card Industry Data Security Standard (PCI DSS) requirements.
We use tokenization to ensure your full card details are never stored on our servers. Instead, a secure token is used for transactions.
Our systems continuously monitor for suspicious activity and unusual transaction patterns to prevent fraud.
Pro Tip: Enable two-factor authentication on your account for an additional layer of security when making transactions on our platform.
After confirming your payment information, prize money is typically processed within 14 business days. Bank transfers may take an additional 3-5 business days to appear in your account.
Yes, you can update your payment method at any time through your account settings. The new payment method will be used for future billing cycles.
No, all fees are transparently displayed before you finalize your competition creation. The fees consist of a base fee and a percentage of the prize pool as outlined in our pricing structure.
If your competition receives no entries by the deadline, you can choose to extend the deadline or cancel the competition. If canceled, the prize pool amount will be refunded to you, though the base hosting fee may not be refundable depending on how long the competition was active.
Yes, prize winnings are typically considered taxable income in most jurisdictions. For US residents, prizes over $600 will be reported to the IRS, and you'll receive a 1099 form. We recommend consulting with a tax professional regarding your specific situation.
International users can use credit/debit cards, PayPal, and select regional payment methods. Bank transfers are available for prize distributions in most countries, though additional verification may be required for certain regions.