Federal Card Services (FCS), a card manufacturing firm based in the US, announced its entry into the Indian market with a $250 million investment, beginning with a manufacturing plant in Pune. The initiative is projected to generate 1,000 direct jobs in India across technology, real estate, and services sectors, according to an official announcement. The Pune facility will focus on producing fully metal cards and biodegradable options. The location in Pune is advantageous for accessing talent and ensuring connectivity with regional markets in Asia, the Middle East, and Europe.
Operations at the Pune facility are scheduled to begin in February 2026, with the initial phase of the 32,000 sq ft site completed, and the company is currently engaged in calibrating equipment and training the workforce. The facility will initially have the capacity to produce 2 million cards annually, with plans to increase this to 26.7 million cards per year, although a specific timeline for this expansion has not been disclosed. “India is central to our next phase of growth globally. With its robust fintech ecosystem, engineering capabilities, and manufacturing strengths, India provides an excellent foundation for advancing sustainable innovation,” stated Matías Gainza Eurnekian, the CEO.
This investment in Pune signifies a long-term commitment to developing payment solutions from India for the global market, emphasizing that India serves not only as a market but as a strategic center for innovation, talent, and responsible manufacturing. The company has already established partnerships with Axis Bank, VISA, Mastercard, and FPL Technologies (OneCard). The metal cards serve as an alternative to PVC plastic, and the sustainable product line features biodegradable materials sourced from renewable resources, including certified wood, coffee fiber, and various plant-based composites. FCS USA, based in Miami, is recognized as the second-largest entity globally in terms of installed capacity and patent holdings within the premium card sector.
