Federal Card sets up India base

Federal Card Services (FCS), a global leader in premium metal and sustainable payment cards, announced its entry into India with an investment of USD 250-million across its technology, real estate, and services verticals. As part of this expansion, the company is developing its first manufacturing facility in Pune, Maharashtra, dedicated to producing 100% metal and biodegradable cards.

The facility marks a major milestone in India’s fintech manufacturing ecosystem, reinforcing the country’s ‘Make in India’ and green growth vision. The investment is expected to create more than 1,000 direct jobs while supporting India’s ambition to become a hub for sustainable, high-end manufacturing.

Pune was chosen for its proximity to Mumbai, availability of skilled manpower, and logistical connectivity to key markets in Asia, the Middle East, and Europe. Phase 1 of the 32,000-sq-ft facility has been completed, with equipment calibration and workforce training now underway. Commercial operations are set to begin in February 2026 with an initial capacity of two million cards per year, scaling up to 26.7-million annually.

Matias Gainza Eurnekian, CEO of Federal Card Services, said India was central to the company’s global expansion. “With its strong fintech ecosystem, engineering excellence, and manufacturing capabilities, India offers the perfect foundation for scaling sustainable innovation,” he said. “Our investment in Pune marks a long-term commitment to build, design, and deliver payment solutions from India to the world.”

The company’s new-generation cards are designed using renewable materials such as certified wood, coffee fibre, and other plant-based composites, offering a biodegradable alternative to PVC plastic. “The shift toward sustainable materials is a shared global responsibility,” Gainza Eurnekian said. “We aim to play our part by delivering secure and innovative biodegradable alternatives that define the future of payment technology.”

Founded in 2014, FCS operates across five continents and serves more than 100 clients. Its headquarters are in Miami, with an R&D centre in Ireland and manufacturing in Ohio, USA.