LuLu Exchange Streamlines Multi-Currency Cards with Stitch Platform
UAE-based LuLu Exchange adopted Stitch’s unified platform to manage its multi-currency card programme. This move simplifies transaction processing, foreign exchange, and settlement, addressing complexities driven by rising cross-border payments.
Unified Platform for Multi-Currency Cards
LuLu Exchange, a financial services provider operating in the UAE, adopted Stitch’s unified platform for its multi-currency card programme. The integration addresses the operational challenges of managing diverse payment flows. Previously, LuLu Exchange relied on separate processors, issuing infrastructure, foreign exchange (FX) providers, and settlement systems.
This fragmented approach complicated scaling and product development. Joseph Cleetus, Vice President of Business Transformation at LuLu Exchange, stated Stitch was the "right partner" for launching their multi-currency cards.
Complexity of Cross-Border Payments
Multi-currency card transactions demand intricate backend coordination, unlike single-balance cards. Each payment requires identifying the correct currency wallet, managing balance shortfalls, and applying FX. Authorisation, settlement, and reconciliation must occur across multiple internal and external systems. This complexity is amplified by increasing cross-border activity.
UN Tourism reported over 300 million international travellers in the first three months of 2025, a 5% increase year-on-year. Cross-border transactions on Asia-Pacific-issued Visa cards grew more than twice the rate of domestic transactions in 2025.
Simplified Operations and Control
Stitch’s platform consolidates key functions: card issuing, transaction processing, FX, ledger management, and reconciliation. This creates a single operating environment for LuLu Exchange. A common data model provides a shared view of balances and transaction activity, while consistent application programming interfaces (APIs) centralise rule management.
This architecture reduces operational overhead, simplifying the introduction of new currencies or adjustments to transaction limits and fees. It also offers the product team greater control over card behaviour and programme configuration.
LuLu Exchange’s strategic shift highlights a critical architectural decision for Asian financial institutions offering multi-currency products. As cross-border transactions continue to rise across the region, the ability to rapidly adapt card programmes becomes essential.
Institutions must evaluate if currency, limit, and pricing changes can be configured within a unified system, or if each update requires extensive engineering and vendor approvals. A single operating layer minimises dependencies, enabling faster responses to evolving customer behaviour or new commercially relevant travel corridors. This approach can streamline product expansion for other Asian lenders serving mobile consumers.
This article is journalism, not investment advice; consult a licensed professional before making financial decisions. Market data is indicative, may be delayed, and should be verified with your broker or exchange before use.
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