Veteran Banking and Fintech Executive Brings Three Decades of Experience To Drive Expansion in High-Growth, High-Risk Markets
FORT LAUDERDALE, Fla.–(BUSINESS WIRE)–#banking—Lüt, the first closed-loop payments platform built to bring modern financial tools to cannabis and other emerging industries, has announced Mark Lewis as President of Specialty Payments to lead the platform’s market expansion. A seasoned executive with more than 30 years of experience across banking, finance and payments, Lewis will oversee Lüt’s specialty payments division as it scales across the cannabis, iGaming and franchise sectors.
Lewis joins Lüt at a pivotal moment as the company expands its footprint following the February launch of its proprietary closed-loop payment system. In his new role, he will lead sponsor-bank partnerships, compliance programs and merchant adoption while developing tailored solutions for businesses long excluded from mainstream banking.
“Lüt is the first-of-its-kind platform that truly solves the accessibility gap for industries like cannabis,” said Lewis. “By offering a secure, compliant system, faster settlements and transparent pricing, Lüt gives business owners the stability they deserve, without stigma or fear of their accounts being shut down by merchant banks. This is financial access without prejudice, and I’m proud to help build it.”
Lewis also brings deep operational experience from both mainstream and emerging markets. He previously managed $1 billion in annual sales volume at Bank of America, served as President of 420 Financial Services, and held senior leadership roles at Ember Services and BuyorSell4Le$$ Inc. Before entering finance, Lewis played professional basketball in the United States and Europe, which was an experience that shaped his leadership, resilience and global perspective.
“Mark’s deep expertise in both Tier-1 banking and payments makes him the ideal choice to drive our next phase of growth,” said Michael Andrud, Founder & CEO of Lüt and FinResults. “His experience building scalable financial programs will accelerate Lüt’s mission to create a fair, modern payments ecosystem..”
The Lüt platform modernizes customer transactions by combining traditional card processing, real-time payments and a secure closed-loop mobile system. Instead of customers worrying about ATM fees and constantly carrying cash, they have the ability to load funds into the Lüt app, complete purchases via QR code and receive weekly cash-back rewards every Friday.
For cannabis merchants, iGaming platforms and other emerging sectors, Lüt removes outdated intermediaries, prevents branded card network shutdowns and provides a direct, reliable path to process transactions, unburdened by fears of shutdowns from major credit card companies. Lüt also offers scalable payment tools and residual-income programs that build stability.
For consumers, the Lüt mobile payments app provides an easy-to-use platform that delivers cash-back rewards, discreet transactions and financial empowerment for users who help expand adoption.
Positioned to integrate debit and credit processing as regulations evolve, Lüt is perfectly positioned to redefine how cannabis and other underserved industries move money securely, transparently and without interruption.
To learn more, please visit mylut.com.
About Lüt
Lüt is more than a payment platform app—it’s a new financial ecosystem built for accessibility, reliability and growth. Lüt modernizes payments by combining traditional card processing, real-time payments, and a secure, closed-loop mobile system. Its card and mobile transaction model keeps pace with evolving commerce, from online retail to emerging sectors like cannabis and iGaming. Built on the first proprietary payment rails created since 1986 and supported through a strategic partnership with First Federal Bank (FFB), Lüt delivers faster settlements, cash-back incentives for users and transparent pricing without relying on outdated intermediaries. Lüt’s leadership team brings decades of experience in the fintech space to streamline the payment process for merchants and consumers alike with easy to use emerging real-time payments technology. Learn more at mylut.com.
Contacts
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Casey Echols
Grasslands: A Journalism-Minded Agency
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