MUMBAI — U.S.-based Federal Card Services (FCS) announced Tuesday that it will enter the Indian market with a $250 million investment across its technology, real estate, and services operations. The company, known for producing premium metal and sustainable payment cards, is developing its first manufacturing plant in Pune.
The new facility will manufacture metal cards and biodegradable payment cards, in what the company says is a significant step for India’s growing fintech manufacturing sector.
FCS said the expansion is expected to create more than 1,000 direct jobs and strengthen the domestic fintech supply chain. The company added that the operation will be built around sustainable production methods in line with India’s “Make in India” initiative and national green development goals.
Phase 1 of the 32,000-square-foot plant has been completed, with equipment installation and workforce training underway. Operations are scheduled to begin in February 2026. The plant will start with an annual production capacity of 2 million cards, with plans to scale up to 26.7 million per year.
“India is central to our next phase of growth globally. 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.
“Our investment in Pune marks the beginning of a long-term commitment to build, design, and create payment solutions from India to the world. We see India not just as a market, but as a strategic hub for innovation, talent, and responsible manufacturing,” he added.
FCS works with financial institutions including Axis Bank, Visa, Mastercard, and FPL Technologies, the company behind OneCard. The firm says its metal and biodegradable cards are designed as a sustainable alternative to PVC-based cards widely used today.
Federal Card Services currently operates in five continents and serves more than 100 clients worldwide. The India investment is part of its plan to expand its leadership in high-end payment card design and environmentally conscious production. (Source: IANS)
