Mumbai — US-based Federal Card Services (FCS) has announced its entry into India with a $250 million investment spread across three key business areas — technology, real estate, and services.
As part of its expansion, the global leader in premium metal and sustainable payment cards is establishing its first manufacturing facility in Pune, which will produce 100% metal and biodegradable cards. The initiative marks a significant milestone in India’s growing fintech manufacturing ecosystem.
According to FCS, the company’s entry will strengthen India’s fintech supply chain and generate over 1,000 direct jobs, while integrating sustainable manufacturing practices in line with the country’s ‘Make in India’ and green growth initiatives.
The company has already completed Phase 1 of its 32,000 sq ft Pune facility, and is currently focused on equipment calibration and workforce training, with operations expected to begin in February 2026. The plant will start with a production capacity of 2 million cards per year, which will later scale up to 26.7 million annually.
“India is central to our next phase of global growth. With its strong fintech ecosystem, engineering excellence, and manufacturing capabilities, India offers the perfect foundation for scaling sustainable innovation,” said Matias Gainza Eurnekian, CEO of Federal Card Services.
He added that the Pune investment represents a long-term commitment to building, designing, and exporting payment solutions “from India to the world.” Eurnekian emphasized that FCS views India not merely as a market but as a strategic hub for innovation, talent, and responsible manufacturing.
Through this major investment, FCS aims to contribute to India’s goal of becoming a global hub for advanced and sustainable manufacturing. The company currently partners with Axis Bank, VISA, Mastercard, and FPL Technologies (OneCard).
The metal and biodegradable cards developed by FCS, designed in collaboration with its global innovation partners, are positioned as a sustainable alternative to conventional PVC plastic cards.
With this move, FCS reinforces its position as a global leader in innovation, sustainability, and high-end design within the payment solutions industry. The company operates across five continents and serves over 100 clients worldwide.
With inputs from IANS