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US Firm's $250M India Bet: 1,000+ Jobs and Sustainable Card Revolution

US-based Federal Card Services is making a major move into India with a $250 million investment. The company is setting up its first manufacturing facility in Pune to produce sustainable payment cards. This expansion will create over 1,000 jobs and strengthen India's fintech supply chain. The facility will begin operations in February 2026 with an initial capacity of 2 million cards per year.

Key Points: Federal Card Services Invests $250M in India Pune Facility

  • $250 million investment across technology, real estate, and services sectors
  • New Pune facility to create over 1,000 direct jobs in fintech manufacturing
  • Initial production capacity of 2 million sustainable cards annually from 2026
  • Manufacturing 100% metal and biodegradable cards to replace PVC plastic
  • Strategic partnership with Axis Bank, VISA, Mastercard, and OneCard
  • Phase 1 completed for 32,000 sq ft facility with operations starting 2026
2 min read

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

US-based Federal Card Services enters India with $250M investment, creating 1,000+ jobs and manufacturing sustainable payment cards in Pune from February 2026.

"India is central to our next phase of growth globally - Matias Gainza Eurnekian, CEO Federal Card Services"

Mumbai, Nov 11

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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Reader Comments

R
Rohit P
Great to see foreign investment aligning with Make in India initiative. The biodegradable cards are a welcome step towards sustainability. Hope local talent gets proper training and growth opportunities.
A
Aditya G
While the investment is welcome, I hope they're not just using India as a manufacturing base. Would like to see more R&D and design work happening here too. The 26.7 million capacity sounds ambitious!
S
Sarah B
As someone working in fintech, this is exactly the kind of ecosystem development we need. Metal cards and sustainable options will elevate India's payment infrastructure. Exciting times ahead!
M
Michael C
Pune continues to attract major investments! The job creation and focus on sustainable manufacturing practices are commendable. Hope this boosts the local economy significantly.
K
Kavya N
Finally some good news for job seekers! 1,000+ positions is substantial. Hope they provide good training and competitive salaries. The biodegradable card initiative is much needed in today's climate-conscious world.

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