How to Set up the Local Payment Agent Method
The Local Payment Agent (LPA) is a payment method primarily used in Africa and Asia, as well as in countries where customers face challenges accessing electronic payment systems. In such cases, some individuals in these countries may act as LPAs. For instance, an LPA may accept funds from customers into their local bank account, transfer the funds to a payment system such as Visa or Mastercard, and then credit the broker's account from where the funds are transferred to the customers' trading accounts through internal transfers. Once the customer has traded, they would use the same method to withdraw funds - by internal transfer to the LPA account at the broker, and then the LPA would transfer the funds to the customer using a local payment method.
To enable the Local Payment Agent function for a broker, they need to access the Admin Module in UpTrader CRM, select Payment System in the left sidebar, and then Local Payment Agent. The broker would then upload Agreements that their future LPAs must sign.
To become a payment agent, one needs to select the Local Payment Agent tab from the UpTrader CRM Back Office module, choose the user they wish to make an agent, and specify the terms of work: commission percentage for deposits and withdrawals, the countries they will operate in, and the currency for receiving payments. It is also important to add a description - an instruction for deposits and withdrawals that customers can use when working with the broker. Finally, Agreements must be signed. Afterwards, clients from the countries you specified will be able to see your Local Payment Method in the list of ways to fund their trading account.
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