Mumbai– U.S.-based Federal Card Services (FCS) announced on Tuesday that it will enter the Indian market with a $250 million investment focused on technology, real estate and services. The company, known for producing premium metal and sustainable payment cards, is setting up its first manufacturing facility in Pune.
The new plant will produce 100 percent metal cards as well as biodegradable alternatives, marking a significant step in expanding India’s role in global fintech manufacturing. The company said the investment aligns with India’s Make in India initiative and the country’s broader push toward green growth and sustainable production.
FCS expects the facility to create more than 1,000 direct jobs. Phase 1 of the 32,000-square-foot facility is already complete, and the company is preparing for equipment calibration and employee training. Operations are scheduled to begin in February 2026 with an initial production capacity of two million cards per year, which is expected to scale up to 26.7 million cards annually as demand grows.
“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.
He added that the Pune expansion represents a long-term commitment to design and build payment solutions in India for both domestic and global markets.
The company currently works with Axis Bank, Visa, Mastercard and FPL Technologies, which offers the metal OneCard credit card. The shift toward metal and biodegradable payment products is seen as a move to reduce reliance on PVC plastic in the financial services industry.
FCS operates across five continents and serves more than 100 clients worldwide. The company said its entry into India supports the country’s ambition to strengthen its position as a hub for advanced and sustainable manufacturing. (Source: IANS)
