US-based Federal Card Services Enters Indian Market with USD 250 Million Investment
Mumbai, Nov 11 (PTI) US-headquartered card manufacturing company Federal Card Services (FCS) has announced its entry into the Indian market with a substantial USD 250 million investment. The company plans to establish a manufacturing facility in Pune, creating 1,000 direct jobs in the country through its investment across technology, real estate, and services verticals, as per an official statement.
The Pune plant will specialize in producing 100 percent metal cards and biodegradable cards. This strategic location in Pune offers advantages in terms of talent acquisition and easy connectivity with regional markets across Asia, the Middle East, and Europe, the company noted. Operations at the Pune facility are set to commence in February 2026. The first phase of the 32,000 sq ft facility is already complete, and the company is currently focused on equipment calibration and workforce training.
Initially, the facility will have a capacity to produce 2 million cards per year, which will be scaled up to 26.7 million cards annually. The company, however, has not disclosed a specific timeline for this expansion. Matías Gainza Eurnekian, CEO of FCS, emphasized the strategic importance of India in the company's global growth plans. He stated, '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.'
The investment in Pune marks the beginning of a long-term commitment to building and designing payment solutions from India to the world, the CEO added. According to Eurnekian, India is not just a market but a strategic hub for innovation, talent, and responsible manufacturing. FCS already has partnerships with major players in the Indian financial sector, including Axis Bank, VISA, Mastercard, and FPL Technologies (OneCard).
The metal cards produced by FCS offer an eco-friendly alternative to traditional PVC plastic cards. The company's sustainable portfolio includes biodegradable materials developed from renewable sources such as certified wood, coffee fiber, and other plant-based composites. FCS USA, headquartered in Miami, is currently the second-largest company globally in terms of installed capacity and patent portfolio within the premium card industry. The company's research and development department is based in Ireland, and it has a consolidated manufacturing facility in Ohio.
This significant investment by FCS underscores the growing importance of India in the global card manufacturing and fintech sectors. The company's commitment to sustainable and innovative card production aligns with the increasing demand for eco-friendly financial solutions, positioning FCS as a leader in the industry.
