FCS to invest $250mn to build world’s biggest ‘green’ card hub
MUMBAI: Federal Card Services (FCS), a Miami-based producer of premium payment cards, has pledged $250 million to build a manufacturing, technology, and services facility in Pune, which it will turn into a central node in its global network. The investment is expected to generate more than 1,000 jobs. A 32,000-sq-ft plant is set to begin operations in Feb 2026 with a capacity of 2 million cards a year, rising eventually to 26.7m cards. Senior management roles are slated to shift to India. “India is central to our next phase of growth globally,” said Matias Gainza Eurnekian, the CEO.India’s card market has grown by more than 7% in two years, a trend FCS sees as evidence that plastic and digital payments will coexist. Keen to embed itself in the local fintech scene, the company plans to take equity stakes in banks and startups that adopt its premium or eco-friendly products. “Any customers that are willing to accept us as investors, we will be investing part of the income in their companies,” said Cristian Calandria, the chairman.
