US-based Federal Card Services Enters Indian Market with USD 250 Million Investment
US-headquartered Federal Card Services (FCS) is making a significant move into the Indian market with a USD 250 million investment. The company plans to set up a manufacturing facility in Pune, focusing on sustainable and innovative card production.
Card ManufacturingSustainable InnovationPuneFcsMetal CardsReal Estate PuneNov 11, 2025
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.
Frequently Asked Questions
What is the total investment by Federal Card Services in India?
Federal Card Services (FCS) is investing USD 250 million in the Indian market.
Where will FCS establish its manufacturing facility in India?
FCS will establish its manufacturing facility in Pune, India.
How many direct jobs will FCS create in India through this investment?
FCS plans to create 1,000 direct jobs in India through this investment.
What types of cards will be produced at the Pune facility?
The Pune facility will produce 100 percent metal cards and biodegradable cards.
What are the key partnerships of FCS in the Indian market?
FCS has partnerships with Axis Bank, VISA, Mastercard, and FPL Technologies (OneCard) in the Indian market.
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