Discover how our regional team, led by Bruno Pirtouscheg, Executive VP of LATAM, is driving market-led innovation to boost payment acceptance in this vibrant and challenging market.
Building for growth and expansion
Spanish- and Portuguese-speaking countries in Central and South America, along with Mexico, have become a hotbed for business, investment, and growth, positioning Latin America (LATAM) as a major hub for fintech and payments innovation.
This exciting transformation is driving significant demand for electronic payment solutions across the region. In fact, the South American POS market alone was worth USD 5.27 billion in 2024, with an expected 8% CAGR from 2024 to 2031.
With a comprehensive suite of products, including cutting-edge Android-based solutions, SoftPOS (Software Point of Sale), and the CasHUB payment platform, Castles Technology is well-positioned to capitalize on this opportunity. With our rapidly expanding LATAM team, our goal is to empower digital payments locally – across a wide range of industries and for all types of businesses and merchants.
Understanding the Latin American landscape
While Latin America is home to a rapidly growing digital payments market, it also presents significant complexities. The region comprises many countries, different languages and cultures and is characterized by diverse economic conditions, varying regulations, and ongoing challenges surrounding financial inclusion.
One of the biggest hurdles is the high proportion of people who remain unbanked. Although financial inclusion has improved in recent years, recent data shows that up to 30% of the population still lacks access to basic financial services.
Real-time and mobile transforming payments
Countries like Brazil, Mexico, and Chile have introduced government-backed instant payment systems—such as PIX, CODI, and MACH—which are helping drive digital payments adoption. These initiatives, combined with the growing use of mobile wallets and peer-to-peer (P2P) payment systems, are creating a fertile environment for the widespread adoption of advanced payment technologies by merchants of all sizes.
At the same time, the rapid growth of smartphone adoption and increased mobile internet access are key enablers of this transformation. In many LATAM countries, smartphones have become the primary means of accessing financial services, driving demand for mobile-first payment solutions that are secure, scalable, and capable of supporting the diverse needs of businesses and consumers alike.
Seizing opportunities through innovation
Castles Technology is well-positioned to bridge this gaps by offering innovative payment solutions that make it easier for both consumers to pay and businesses to accept payments — whether through cards, mobile wallets, or real-time payments.
At Castles, our pay-tech innovation is already building on this momentum and helping to empower wider and more convenient e-payment acceptance:
- Our Android-based POS solutions are continuously evolving, with features tailored to the specific demands of LATAM businesses. This flexibility is crucial in a region where companies range from small family-owned shops to large multinational corporations, each with its own unique requirements for payment processing.
- A potential gamechanger for many merchants is our SoftPOS technology, which turns smartphones, into secure point-of-sale terminals without requiring additional hardware. This cost-effective and simple solution can significantly reduce digital acceptance barriers for small and medium-sized businesses — which form the backbone of LATAM retailing.
- Finally, our flagship platform, CasHUB, reduces operational complexity for expanding enterprises. It offers a suite of cloud-based tools that help LATAM merchants to connect and optimize their operations, and streamline payment processing – helping to boost efficiency, reduce costs and improve customer engagement.
Navigating regulatory and economic complexity
One of LATAM’s defining features is its regulatory diversity. Each country has its own set of rules governing payments, digital financial services, and data protection. Navigating these requirements is critical to ensuring compliance and gaining the trust of both local businesses and consumers.
Our regional team is committed to working closely with local financial institutions and regulatory bodies to ensure that all our point-of-sale devices and payments solutions meet the legal and security requirements of each market. This approach helps build strong relationships with local partners, enhances credibility, and contributes to the broader effort to drive digital payments adoption throughout the region.
Driving financial inclusion and economic growth
Given Latin America’s economic and regulatory diversity, Castles recognizes that there’s no one-size-fits-all solution. That’s why our focus in 2025 and beyond is on building strong local teams, forming strategic partnerships, and continuously innovating to meet the unique demands of each market. Through these efforts, we aim to foster economic growth, promote financial inclusion, and enhance customer experiences with seamless, user-friendly payment technologies.
By providing affordable, secure, and easy-to-use payment solutions, we can enable businesses of all sizes to access the digital economy and reach new customers, especially those in underserved or rural areas. This, in turn, creates new opportunities for entrepreneurship, job creation, and overall economic development. At Castles, we are excited to be part of building this better future.
Find out more about Castles Technology’s LATAM capabilities and partner opportunities here https://www.castlestech.com/ Interested in joining our team? Check out our careers page: https://www.castlestech.com/careers/
