Lüt and Safe Harbor join forces to revolutionize cannabis payment solutions

Lüt, a digital payments platform for cannabis and high-risk industries, has teamed up with Safe Harbor to offer compliant financial solutions. The partnership merges Safe Harbor's banking expertise with Lüt's closed-loop payment technology. Both companies aim to provide secure, cash-free transactions for regulated merchants.

The collaboration makes Lüt a Safe Harbor Advantage Partner, broadening access to compliant digital payments for cannabis and specialty businesses. Merchants will benefit from guaranteed funds, less cash handling, and reliable payment options across all sales channels.

Lüt's technology, called Lüt Reserve, operates outside traditional card networks. It ensures funds are authorised and held in advance, cutting out NSF risk and reducing cash dependency. The platform supports retail, delivery, payroll, vendor payments, and e-commerce—all within the regulated banking system.

Michael Andrud, CEO of Lüt, highlighted the shared focus on compliance and long-term financial infrastructure. Ean Mullins, Safe Harbor's SVP of Product Development, added that the partnership reinforces Safe Harbor's leadership in secure financial services for the industry.

Over the next year, the two firms will concentrate on onboarding merchants, expanding payment channels, and rolling out loyalty features.

The partnership brings together Safe Harbor's compliance-focused banking with Lüt's closed-loop payment system. Businesses in regulated sectors will gain access to safer, more efficient digital transactions. The companies plan to introduce new features and onboard more merchants in the coming months.