US Firm Federal Card Services Enters India With $250 Million Investment

MUMBAI- US-based Federal Card Services (FCS) on November 11 announced its entry into India with a substantial investment of $250 million. The investment will be distributed 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 its investment aims to strengthen India’s fintech supply chain and create over 1,000 direct jobs. The project integrates sustainable manufacturing practices that align with India’s ‘Make in India’ and green growth vision.

Phase 1 of the 32,000 sq ft facility has been completed, and FCS is now focused on equipment calibration and workforce training ahead of operations commencing in February 2026. The facility will begin with an initial capacity of 2 million cards per year, scaling up significantly to 26.7 million cards annually.

 Matias Gainza Eurnekian, CEO, Federal Card Services said  that the investment in Pune signifies a long-term commitment to build, design, and payment solutions “from India to the world.” He views India not just as a market, but as a strategic hub for innovation, talent, and responsible manufacturing. (IANS)