FCS Pune Manufacturing Unit
As part of the expansion, FCS is setting up its first manufacturing facility in Pune, Maharashtra. The factory will produce 100 percent metal and biodegradable cards, which will be a major milestone in the Indian fintech manufacturing ecosystem. The company aims to create over 1,000 direct jobs and strengthen India’s position as a global fintech and sustainable manufacturing hub, in line with the government’s ‘Make in India’ and green growth vision.
The choice of Pune as a location is attributed to its proximity to Mumbai, its pool of skilled talent in advanced manufacturing and fintech, and its logistical advantages for reaching markets in Asia, the Middle East and Europe. Phase 1 of the 30,000-square-foot facility has been completed and operations are expected to start in February 2026, following equipment calibration and staff training. The unit will start with a production capacity of 2 million cards per year and scale up to 26.7 million cards.
FCS collaborates with Axis Bank, VISA, Mastercard and FPL Technologies (OneCard). Developed in collaboration with global innovation partners, the sustainable next-generation cards use biodegradable materials sourced from certified wood, coffee fibers and other plant-based composites, providing a sustainable, eco-friendly alternative to PVC plastic.
Matías Gainza Eurnekian, CEO of Federal Card Services (FCS) said: “India is at the center of our next phase of growth globally. With its strong fintech ecosystem, engineering excellence and manufacturing capabilities, India provides the perfect foundation for scaling sustainable innovation. Our investment in Pune marks the start of a long-term commitment to build, design and pay for 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.”
Matías added: “The shift to sustainable materials is a shared global responsibility. FCS is committed to doing its part by providing safe and innovative biodegradable alternatives to PVC and polycarbonate. We believe that by working together with government and industry partners, we can help shape a more sustainable and responsible future for the payments sector.”
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Published on November 11, 2025
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