Federal Card Services (FCS), a global pioneer in premium metal and eco-friendly payment cards, has announced its official entry into India with a USD 250 million investment spread across its three strategic pillars — technology, real estate, and services. This move marks a major milestone in the country’s growing fintech manufacturing landscape.
As part of its India expansion, FCS is setting up its first manufacturing plant in Pune, Maharashtra, dedicated to producing 100% metal cards and biodegradable payment cards. The initiative is designed to enhance India’s position as a global fintech manufacturing hub, while supporting the nation’s ‘Make in India’ and green growth missions. The investment will also create over 1,000 direct jobs and introduce advanced sustainable manufacturing technologies to the local ecosystem.
The 32,000 sq ft Pune facility has completed its first development phase, with equipment calibration and workforce training currently underway. Commercial operations are expected to begin by February 2026, with an initial annual production capacity of 2 million cards, scalable to 26.7 million cards. Pune was chosen for its proximity to Mumbai, strong talent base, and logistical connectivity to major markets across Asia, the Middle East, and Europe.
Matías Gainza Eurnekian, CEO of Federal Card Services, said “India is integral to our next stage of global expansion. The country’s robust fintech ecosystem, engineering talent, and manufacturing strength make it an ideal base for scaling sustainable innovation. Our Pune investment reflects our long-term commitment to building, designing, and exporting next-generation payment solutions from India to the world. We view India not only as a key market but as a strategic innovation hub.”
FCS’s upcoming product range introduces biodegradable alternatives to conventional PVC cards, developed from renewable and responsibly sourced materials such as certified wood, coffee fiber, and plant-based composites. These cards are designed to be both environmentally responsible and highly durable, redefining the premium payment experience.
Mr Matías added “Transitioning to sustainable materials is a shared global responsibility. FCS is committed to driving this change by delivering secure, high-performance, biodegradable alternatives to PVC and polycarbonate cards. By collaborating with government and industry partners, we aim to support India’s leadership in sustainable payments manufacturing.”
The India expansion builds on FCS’s strong global foundation. FCS USA ranks as the second-largest company globally in the premium card industry by installed capacity and patent portfolio. The company operates an R&D center in Ireland and a state-of-the-art manufacturing facility in Ohio, USA, with its headquarters in Miami and administrative offices in Argentina, underscoring its multicultural and international reach.
With this investment, FCS continues to reinforce its global leadership in innovation, design, and sustainability across the payment solutions industry. Operating on five continents and serving over 100 clients, the company is driving the future of secure and sustainable payment technologies.
Founded in 2014, Federal Card Services (FCS) has evolved from a specialized card manufacturer into a global enterprise built on three core pillars — technology, real estate, and services. Led by Matías Gainza Eurnekian (Partner & CEO) and Cristian Calandria (Partner & Chairman of the Board), FCS designs and produces premium metal and biodegradable wooden cards for banks, fintechs, and membership programs worldwide. With operations across the United States, Europe, and Latin America, and now expanding into India, FCS combines technological innovation, premium craftsmanship, and sustainable practices to redefine the global standard in payment solutions.
