Federal Card Services Invests USD 250 Million in India

13 Nov 2025 CW Team

The investment aims to support India’s fintech supply chain while creating over 1,000 direct jobs. FCS will integrate environmentally responsible practices that align with the country’s Make in India and green growth vision.

Pune was selected as the strategic location due to its proximity to Mumbai, strong engineering talent pool, and excellent logistics connectivity to markets across Asia, the Middle East and Europe. Phase 1 of the 32,000 sq ft facility is now complete, with equipment calibration and workforce training under way. Operations are set to begin in February 2026 with an initial capacity of 2 million cards per year, scaling up to 26.7 million cards annually.

FCS currently works with Axis Bank, VISA, Mastercard and FPL Technologies (OneCard).

CEO Matías Gainza Eurnekian said India is “central to our next phase of growth globally,” highlighting the country’s strong fintech ecosystem, manufacturing capabilities and engineering talent. He said the Pune facility marks the beginning of a long-term commitment to design and build payment solutions “from India to the world.”

The new-generation cards produced by FCS, designed with global innovation partners, offer sustainable alternatives to PVC plastic. Biodegradable materials include certified wood, coffee fibre and plant-based composites that combine sustainability with premium durability. Gainza noted that shifting to sustainable materials is a “shared global responsibility,” and FCS aims to support this transition by working closely with government and industry partners.

Global Legacy of Innovation

FCS India builds on the company’s global footprint, which began in the United States. FCS USA is the world’s second-largest player in installed capacity and patent portfolio for premium cards. The company operates an R&D centre in Ireland and a major manufacturing hub in Ohio, with global headquarters in Miami and administrative offices in Argentina.

With its India investment, FCS is reinforcing its global leadership in innovation, sustainability and premium design. The company operates across five continents and serves more than 100 clients worldwide.

Federal Card Services (FCS), a global leader in premium metal and sustainable payment cards, has announced its entry into India with a USD 250 million investment across its three core verticals—technology, real estate and services. As part of this expansion, the company is setting up its first manufacturing facility in Pune, Maharashtra, which will produce 100 per cent metal cards and biodegradable cards, marking a major boost to India’s emerging fintech manufacturing ecosystem. The investment aims to support India’s fintech supply chain while creating over 1,000 direct jobs. FCS will integrate environmentally responsible practices that align with the country’s Make in India and green growth vision. Pune was selected as the strategic location due to its proximity to Mumbai, strong engineering talent pool, and excellent logistics connectivity to markets across Asia, the Middle East and Europe. Phase 1 of the 32,000 sq ft facility is now complete, with equipment calibration and workforce training under way. Operations are set to begin in February 2026 with an initial capacity of 2 million cards per year, scaling up to 26.7 million cards annually. FCS currently works with Axis Bank, VISA, Mastercard and FPL Technologies (OneCard). CEO Matías Gainza Eurnekian said India is “central to our next phase of growth globally,” highlighting the country’s strong fintech ecosystem, manufacturing capabilities and engineering talent. He said the Pune facility marks the beginning of a long-term commitment to design and build payment solutions “from India to the world.” The new-generation cards produced by FCS, designed with global innovation partners, offer sustainable alternatives to PVC plastic. Biodegradable materials include certified wood, coffee fibre and plant-based composites that combine sustainability with premium durability. Gainza noted that shifting to sustainable materials is a “shared global responsibility,” and FCS aims to support this transition by working closely with government and industry partners. Global Legacy of Innovation FCS India builds on the company’s global footprint, which began in the United States. FCS USA is the world’s second-largest player in installed capacity and patent portfolio for premium cards. The company operates an R&D centre in Ireland and a major manufacturing hub in Ohio, with global headquarters in Miami and administrative offices in Argentina. With its India investment, FCS is reinforcing its global leadership in innovation, sustainability and premium design. The company operates across five continents and serves more than 100 clients worldwide.

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