FCS said its entry into India will create over 1,000 direct jobs while introducing sustainable manufacturing practices to the country’s payment card industry.
Mumbai: US-based Federal Card Services (FCS) on Tuesday announced its foray into India with a $250 million investment spread across its three key verticals; technology, real estate, and services.
The company, a global leader in premium metal and sustainable payment cards, is setting up its first manufacturing facility in Pune, marking a major step in India’s growing fintech and card manufacturing sector.
The upcoming plant will produce 100% metal and biodegradable cards, strengthening India’s fintech supply chain and supporting the country’s ‘Make in India’ and green growth vision.
FCS said its entry into India will create over 1,000 direct jobs while introducing sustainable manufacturing practices to the country’s payment card industry.
According to the company, Phase 1 of the 32,000 sq ft facility has been completed, and the focus has now shifted to equipment calibration and workforce training before operations begin in February 2026.
The Pune facility will start with an initial production capacity of 2 million cards per year, which will eventually scale up to 26.7 million cards annually as operations expand.
“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. IANS
Published: 11 Nov 2025, 04:44 pm IST
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