Episode 211: Lüt Builds New Payment Rails for Cannabis Commerce

With more than 30 years in banking, Michael Andrud founded Lüt to confront one of the cannabis industry’s most entrenched obstacles: a payments system dominated by networks that penalize banks for serving the sector. In this episode hosted by Mary Jane Gibson live at MJBizCon 2025, Andrud details how Lüt developed the first new proprietary payment rails in 50 years, bypassing Visa and MasterCard to deliver faster settlement, lower costs, and FDIC-insured banking support through First Federal Bank of Florida. From its partnership with GreenCheck Verified to its focus on compliance, security, and operational efficiency, Lüt is advancing a pur...