GCC Exchange

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

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

• Money transfer services
• Foreign exchange services
• Remittance services
• Payroll processing
• Currency exchange

Headquarters

HQ city

Dubai

HQ country

United Arab Emirates

HQ region

Middle East

Offices30 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Remittance/Money Transfer: Electronic fund transfers via SWIFT network with wide banking relationships globally. Revenue generated through transaction fees and exchange rate margins.
2. 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.
3. WPS Payroll Solutions: Wage Protection System payroll processing services for corporate clients. Tankhwa Card provided as WPS-compliant solution.
4. 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.
5. Value Added Services: Mobile recharge services, VAT payments, pension processing, and bill payments.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core 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

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Abhi Middle East LimitedcoreStrategic or Co-development Partner · 17 April 2026Strategic 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.
• MoneyGramcoreChannel Partner/ Reseller/ Distributor · 1 February 2026Official partnership enabling GCC Exchange to offer MoneyGram international money transfer services through its branch network and digital channels, enhancing global reach for customers.
• NymCardcoreTechnology or Integration · 1 December 2025Partnership 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 BarodaminorGTM or Marketing Partner · 1 January 2025Joint 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

Direct 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

• Xx.com/gcc_exchange
• YouTubeyoutube.com/c/gccexchange
• Facebookfacebook.com/gccexchange
• LinkedInlinkedin.com/company/gcc-exchange
• Instagraminstagram.com/gccexchange

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about GCC Exchange