Kona I Acquired Card Maker PSC to Enter U.S. Market

The deal gives the firm direct access to local small and mid-sized bank networks.

Updated on Oct. 2, 2026 in Business Strategy

Bold flat-color editorial illustration of stacked geometric polymer sheets, navy, cream, and red, representing industrial financial infrastructure expansion. — Kona I finalized its acquisition of U.S. card manufacturer PSC on September 1, aiming to capture demand from regional lenders for specialized production. AI Illustration. Upload story photo >

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Kona I finalized its acquisition of card manufacturer PSC on September 1, 2026, marking a strategic entry into the American financial sector. The firm intends to leverage existing local expertise to serve small and mid-sized U.S. banks.

Why it matters

The acquisition provides Kona I with the necessary local infrastructure to compete for banking contracts that require U.S.-based operations. This move allows the firm to secure direct access to regional lenders currently seeking specialized card production capabilities.

Kona I invested $22 million (30.3 billion Korean won) into its new U.S. holding entity, with $20.1 million allocated directly toward the purchase of PSC shares.

The players

Kona I

A financial technology firm that produces smart cards and payment solutions.

PSC

A manufacturer specialized in the production of payment and identification cards.

The details

Kona I executed the deal by establishing Kona America Holdings to act as its primary U.S. vehicle for market expansion. By acquiring PSC, the company inherits established operational expertise, which it plans to utilize to meet the specialized demands of small and mid-sized domestic banks. The firm has committed to sustaining these U.S. operations to maintain the continuity of local card production.

September 1, 2026: Kona I paid the final acquisition cost and initiated the plan.
October 2, 2026: The company publicly announced the completion of the acquisition.

Market Landscape

This acquisition follows the established pattern where foreign payment providers acquire U.S. manufacturers to secure the local presence required to service regional banking institutions. It marks a strategic departure from remote service models in favor of localized operational control.

Business owners in the financial services sector should monitor whether this acquisition leads to more competitive pricing or expanded product options from PSC. Those currently relying on regional card suppliers should evaluate if this transition affects lead times or service contracts.

The takeaway

Kona I is prioritizing local infrastructure to capture market share from regional U.S. financial institutions. Operators should track whether this shift forces other international suppliers to adopt similar 'buy-local' expansion strategies to remain competitive.