GCC Exchange
- Company typePrivate
- Founded2005
- HeadquartersDubai, United Arab Emirates
- Headcount501–1,000
- GTM typeB2B and B2C
- OfferingServices
GCC Exchange firmographics
Firmographics- Name
- GCC Exchange
- Legal name
- GCC Exchange
- Website
- https://gccexchange.com
- Company type
- Private
- Founded year
- 2005
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Ownership category
- akta.pro rank
GCC Exchange industry classification
Industry- Product category
- Money Transfer & Foreign Exchange Services
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Consumer Remittances (P2P) (FSAMAIAA)
- akta.pro secondary industries
- Cross-Border & Multi-Currency Gateway Services (FSAMACAI), Cross-Border FX, Multi-currency Settlement & Dynamic Currency Conversion (THACAJAF)
Keywords
Where GCC Exchange is headquartered
LocationHeadquarters
- HQ city
- Dubai
- HQ country
- United Arab Emirates
- HQ region
- Middle East
Offices30 records
Markets served
GCC Exchange business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D
Revenue model
- Remittance/Money Transfer: Electronic fund transfers via SWIFT network with wide banking relationships globally. Revenue generated through transaction fees and exchange rate margins.
- Foreign Currency Exchange: Retail and wholesale of foreign currencies at competitive rates. Zero charges mentioned for some services. Revenue generated through spread on exchange rates.
- WPS Payroll Solutions: Wage Protection System payroll processing services for corporate clients. Tankhwa Card provided as WPS-compliant solution.
- Corporate Payment Services: B2B payments including corporate remittances, foreign currency exchange for businesses, overseas salary payments, and Cash to Master (maritime fund access). No onboarding or account maintenance fees; only pays when booking a transaction.
- Value Added Services: Mobile recharge services, VAT payments, pension processing, and bill payments.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Remittance Services |
| Unit Pricing | Pay-as-you-go | Foreign Currency Exchange |
| Transaction based/ take rate | Pay-as-you-go | Corporate Payments |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels7 records
GCC Exchange product offering
Product offeringCore offering
GCC Exchange is a UAE-licensed money transfer and foreign exchange company providing international remittance, retail and wholesale currency exchange, and WPS-compliant payroll processing to individual consumers and corporate clients. Services are delivered through a 29-branch UAE retail network, a SWIFT-member WebTT online portal, and a mobile app with 'Tap Tap and Send' functionality. Supporting offerings include corporate payments (B2B remittances, Cash to Master), VAT payments, pension processing, mobile recharge, the TravelMate multi-currency card, and the Green Card loyalty program.
Product overview
GCC Exchange is a fast-growing money transfer and foreign exchange brand for individuals and businesses, offering a diversified suite of financial services. The company operates a platform-plus-branches model with 29 branches in the UAE plus five associate companies internationally (UK, Hong Kong, Seychelles, Fiji, Singapore). Its core product portfolio includes Remittance Services (SWIFT-member international transfers), Currency Exchange, and Wages Protection System (WPS) Payroll Solutions — the latter ranks GCC Exchange among the top three WPS exchange houses in the UAE, processing salaries for over 80,000 employees. Digital products include the GCC Exchange WebTT online portal, the Mobile App with 'Tap Tap and Send' functionality, and Online Forex Booking. Value-added services span Instant Money Transfers, Mobile Recharge, VAT Payments, Pension Processing, and Corporate Payments. The company also offers the TravelMate multi-currency travel card (via NymCard partnership) and the Green Card loyalty program. GCC Exchange has partnered with MoneyGram for international transfers and ABHI for Earned Wage Access services, extending its ecosystem beyond traditional remittance.
Differentiator
Problem solved
Functional benefit
Brands
- Money Majlis Promotion: Ramadan promotion campaign offering cash prizes to customers who make remittance transactions
- TravelMate Card
- Green Card
- Tankhwa Card
- GCC Exchange Mobile App
Products and services
- Remittance Services Electronic fund transfer service enabling secure and reliable international money transfers. GCC Exchange is a SWIFT member with a wide network of banking relationships covering most parts of the world. Designed for individual senders and corporate clients remitting funds internationally.
- Currency Exchange (Foreign Exchange) Retail and wholesale foreign currency exchange offered across all GCC Exchange branches at competitive rates, with free pickup services for corporate customers. Targets individual consumers and corporate buyers needing FX.
- Wages Protection System (WPS) Payroll Solutions WPS-compliant payroll solution enabling organized salary payments. GCC Exchange is one of the top three exchange houses trusted with WPS in the UAE, processing salary payments for more than 80,000 employees. Includes Tankhwa Card for convenient salary pickup. Serves UAE corporates requiring compliant salary disbursement.
- GCC Exchange WebTT (Online Money Transfer) Complete online money transfer portal enabling customers to send money online any time via the web. Built as a convenient and cost-effective mode of sending money online, complementing the branch-based remittance service.
- Instant Money Transfers Cash payout transfers to agent outlets worldwide without requiring a bank account, delivered through third-party providers including Western Union, Ria, and Instant Cash. Designed for senders who need fast cash delivery to recipients without bank accounts.
- Mobile Recharge Services Mobile phone top-up/recharge service allowing customers to recharge family or friends' mobile phones back home with a tap of a finger. Targets expatriate workers topping up mobile balances for family abroad.
- VAT Payments Service enabling entities registered under the UAE Federal Tax Authority (FTA) with a Tax Registration Number (TRN) and GIBAN bank account to make VAT payments at GCC Exchange branches. Targets UAE VAT-registered businesses.
- Pension Processing (GPSSA Services) Mandatory pension processing service for national employees through UAEFTS, offered in compliance with regulatory requirements for government and private sector corporates. Targets UAE employers required to process GPSSA pension contributions.
- Corporate Payments B2B payment services including corporate remittances, foreign currency exchange at preferential rates, overseas salary payments, and Cash to Master (CTM) for maritime fund access. Streamlines local and international transactions across 150+ countries for corporate clients with no onboarding or account maintenance fees.
- TravelMate Multi-Currency Card Multi-currency prepaid travel card launched in partnership with NymCard, designed for seamless global payments abroad. Issued on NymCard's infrastructure and offered to travelers and consumers needing multi-currency spending.
- GCC Exchange Mobile App Mobile application for iOS and Android enabling customers to track transactions, access daily exchange rates, and use the 'Tap Tap and Send' feature for instant international money transfers 24/7 without visiting a branch. Includes real-time SMS/email transaction notifications.
- Online Forex Booking Online platform for booking foreign currency exchange in bulk for corporate requirements, providing competitive rates with personalized customer service. Targets corporate clients with bulk FX needs.
- Green Card Loyalty Program Loyalty program offered by GCC Exchange to reward repeat customers. Targets existing retail customers using remittance and FX services.
- Earned Wage Access and Cross-Border Remittance Services Service combining GCC Exchange's remittance infrastructure with ABHI's Earned Wage Access technology, enabling UAE-based employees to withdraw earned wages instantly and transfer funds to families abroad. Targets expatriate workers across UAE, Pakistan, Saudi Arabia, and Oman.
Quantifiable outcome
- Processing payroll for more than 80,000 employees through WPS
- +1 more outcomes
Companies that use GCC Exchange
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles3 records
GCC Exchange technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
GCC Exchange partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and minor.
- Abhi Middle East LimitedcoreStrategic partnership to launch real-time wage access and cross-border remittance services for UAE-based workers. The collaboration combines GCC Exchange's remittance infrastructure with ABHI's Earned Wage Access technology, enabling employees to withdraw earned wages instantly and transfer funds to families abroad. ABHI is a fintech neobank backed by Hub71 and Abu Dhabi Investment Office, serving over 1 million users and 7,000+ business partners.
- MoneyGramcoreOfficial partnership enabling GCC Exchange to offer MoneyGram international money transfer services through its branch network and digital channels, enhancing global reach for customers.
- NymCardcorePartnership to launch TravelMate, a multi-currency prepaid travel card built for seamless global payments. NymCard provides the underlying card infrastructure for the TravelMate product.
- Bank of BarodaminorJoint Send and Win promotion with Bank of Baroda offering over 60 prizes to customers making money transfers.
Scale indicators5 records
Recent moves9 records
Expansion highlights3 records
GCC Exchange competitors and assessment
Company assessmentDirect peers
- MoneyGram: Global cross-border P2P payments company and direct competitor in remittance, now partnered with GCC Exchange. Both serve the same UAE-to-South Asia and Southeast Asia corridors with overlapping retail and digital offerings.
- Xpress Money: Cross-border remittance MTO serving the GCC and South Asia corridors with both digital and agent-based payout. Competes with GCC Exchange on key expatriate send corridors and agent-based cash payout.
- Ria Financial Services: Money transfer operator (owned by Euronet Worldwide) with strong presence in UAE retail remittance. Ria is explicitly listed as a third-party provider used by GCC Exchange and competes directly for cash-pickup remittance customers.
- UAE Exchange (now LuLu Exchange): Historic UAE-headquartered money transfer and exchange company (rebranded to LuLu Exchange) operating a large branch and correspondent network. Competes head-to-head with GCC Exchange on remittance corridors, WPS payroll, and FX services for UAE's expatriate population.
- Al Ansari Exchange: The largest exchange house in the UAE offering remittance, FX, and payroll services with an extensive branch network across the country. Directly competes with GCC Exchange for WPS contracts, expatriate remittance customers, and corporate B2B payments in the same corridors.
Emerging players
- Wise (TransferWise): Digital-first cross-border payments company offering low-fee international transfers and a multi-currency account/card. Competes with GCC Exchange on price and convenience, particularly for digitally savvy expatriate senders in the UAE.
- Remitly: Digital remittance fintech focused on immigrant senders including from the UAE. Competes with GCC Exchange primarily on price and app experience for customers comfortable with fully digital onboarding.
Others
- NymCard: MENA-based card issuing and processing platform that powers GCC Exchange's TravelMate multi-currency card product. A technology partner and ecosystem enabler rather than a direct competitor.
Regional players
- Al Rajhi Bank (Money Exchange / Remittance): Saudi-headquartered bank with significant GCC remittance and FX operations serving similar expatriate corridors. A regional peer operating adjacent GCC market with comparable products rather than directly competing in UAE retail.
Broad incumbents
- Western Union: Global incumbent in cross-border money transfers with the largest agent network worldwide, including extensive UAE presence. GCC Exchange offers Western Union services as a sub-agent and competes with it for share of wallet among UAE remittance customers.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
GCC Exchange social profiles
Digital presenceGCC Exchange financial estimates
Financial estimateRevenue estimate
Valuation estimate
GCC Exchange leadership team
Management profileNumber of profiles
Profiles3 records
GCC Exchange subsidiaries and ownership
Company hierarchySubsidiaries5 records
GCC Exchange funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
GCC Exchange M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about GCC Exchange
What does GCC Exchange do?
GCC Exchange is a UAE-licensed money transfer and foreign exchange company providing international remittance, retail and wholesale currency exchange, and WPS-compliant payroll processing to individual consumers and corporate clients. Services are delivered through a 29-branch UAE retail network, a SWIFT-member WebTT online portal, and a mobile app with 'Tap Tap and Send' functionality. Supporting offerings include corporate payments (B2B remittances, Cash to Master), VAT payments, pension processing, mobile recharge, the TravelMate multi-currency card, and the Green Card loyalty program.
Is GCC Exchange a public or private company?
GCC Exchange is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was GCC Exchange founded?
GCC Exchange was founded in 2005. It employs 501 to 1,000 people.
Where is GCC Exchange based?
GCC Exchange is headquartered in Dubai, United Arab Emirates, in the Middle East region.
How does GCC Exchange make money?
Five revenue lines are on record. Remittance/Money Transfer is the primary driver. The others are foreign Currency Exchange, WPS Payroll Solutions, corporate Payment Services and value Added Services.
Who are GCC Exchange's main competitors?
Direct peers on record are MoneyGram, Xpress Money, Ria Financial Services, UAE Exchange (now LuLu Exchange) and Al Ansari Exchange. Emerging players are Wise (TransferWise) and Remitly. NymCard is listed as an others. Al Rajhi Bank (Money Exchange / Remittance) is listed as a regional player. Western Union is listed as a broad incumbent.
Does GCC Exchange have an API?
No public API is recorded for GCC Exchange.
What industry is GCC Exchange in?
GCC Exchange's product category is Money Transfer & Foreign Exchange Services. Its primary akta.pro industry code is FSAMAIAA, Consumer Remittances (P2P), with a secondary code of FSAMACAI, Cross-Border & Multi-Currency Gateway Services. Its SIC code is 6199.