Federal Card Services enters India with an investment of USD 250 million; first manufacturing unit coming up in Pune
Federal Card Services (FCS), a global leader in premium metal and sustainable payment cards, today announced its entry in India with an investment of USD 250 million across its three core business pillars – technology, real estate, and services. As part of this expansion, FCS is developing its first manufacturing facility in Pune, Maharashtra. The new plant will produce 100% metal cards and biodegradable cards, marking a major milestone in India’s growing fintech manufacturing ecosystem. FCS aims to strengthen India’s fintech supply chain and create over 1,000 direct jobs, integrating sustainable manufacturing practices that align with India’s ‘Make in India’ and green growth vision.
The selection of Pune as a strategic location is based on several factors: its proximity to Mumbai, the availability of talent for advanced manufacturing and fintech solutions, and the region’s logistical capacity to connect with key markets in Asia, the Middle East, and Europe. With Phase 1 of the 32,000 sq. ft. facility completed, FCS is now focused on equipment calibration and workforce training ahead of operations commencing in February 2026. The facility will commence with an initial capacity of 2 million cards per year, scaling up to 26.7 million cards annually. Through this investment, FCS aims to support India’s ambition to become a global hub for advanced and sustainable manufacturing. The company currently works with Axis Bank, VISA, Mastercard, and FPL Technologies (OneCard).
Matías Gainza Eurnekian, CEO, Federal Card Services (FCS) said, “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. Our investment in Pune marks the beginning of a long-term commitment to build, design, and 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.”
The cards produced by FCS and designed in collaboration with global innovation partners represent a revolutionary alternative to PVC plastic. Next-generation sustainable card solutions includes biodegradable materials developed from renewable sources such as certified wood, coffee fiber and other plant-based composites. These cards are biodegradable and designed to offer premium durability.
Matías added:
“The shift toward sustainable materials is a shared global responsibility. FCS is keen to play its part by delivering secure and innovative biodegradable alternatives to PVC and polycarbonate. We believe that by working together with the government and industry partners, we can help shape a more sustainable and responsible future for the payments industry.”
A Legacy of Global Innovation
With this expansion, FCS India continues a growth journey that began in the United States. FCS USA is currently the second-largest company worldwide in terms of installed capacity and patent portfolio within the premium card industry. The company operates its own R&D department in Ireland and has a consolidated manufacturing facility in Ohio, USA. Its global headquarters are in Miami, with administrative offices in Argentina, reflecting its extensive reach and cultural diversity.
With its investment in India, FCS is reinforcing its global leadership in innovation, sustainability, and high-end design in the payment solutions industry. It operates across five continents and serves over 100 clients.
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