US firm Federal Card Services enters India with $250 million investment, to create over 1,000 jobs

Mumbai, Nov 11 (IANS) US-based Federal Card Services (FCS) on Tuesday announced its entry in India with an investment of $250 million across its three core business pillars -- technology, real estate, and services.

As part of this expansion, the global leader in premium metal and sustainable payment cards is developing its first manufacturing facility in Pune.

The new plant will produce 100 per cent metal cards and biodegradable cards, marking a major milestone in India’s growing fintech manufacturing ecosystem.

FCS said it 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.

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.

“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, Federal Card Services (FCS).

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, Eurnekian added.

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).

The cards produced by FCS and designed in collaboration with global innovation partners represent a revolutionary alternative to PVC plastic.

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.

--IANS

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