Every month, millions across the GCC send money abroad. Behind every transaction is a story often shaped by care and connection. While most transactions are personal, around half are tied to business activity, typically for business investments, paying for goods, and even purchasing property.
Today, the GCC stands out as one of the world’s busiest remittance corridors, with people sending money about 1.2 times each month. As digital transformation accelerates and money movement trends change, remittance services must evolve – not just to keep pace but to match the digital lives and heightened expectations of the people they serve.
The GCC shift: Who sends and why
Cross-border money transfers in the GCC are driven primarily by digitally savvy users aged between 25 and 45, often balancing family and business responsibilities. Sixty-six percent of remitters are GCC nationals, followed by Asian and Arab expats. Many of them come from modest income brackets, which makes affordability and simplicity less a convenience, and more a necessity. Countries like the UAE, Saudi Arabia, and Qatar have become vibrant, diverse hubs where people from different backgrounds share one clear expectation: that sending money abroad should be fast and easy.
Expectations have evolved — but infrastructure hasn’t
As expectations rise, cross-border remittance systems in the GCC fall short. Across the markets, one of the most common frustrations is how long it takes for money to move. In Bahrain, limited customer support and access to services in their preferred languages add stress to already urgent transfers. In Oman, security remains a key concern; remitters are often anxious about fraud and scams. Cost is another critical barrier, especially among East Asian communities – high transfer fees and poor exchange rates make remittances inaccessible for many.
Beyond individual pain points, there’s a broader disconnect. Whether we are ordering food or sending money home, we naturally seek services that are quick, clear and give us a sense of control. That’s what consumers have come to expect – and it highlights why interoperability matters. When systems don’t speak to one another, users face delays or inconsistent service. The benchmark has shifted. Financial institutions, fintechs and exchange houses that will succeed are those who recognize this shift and design for intuitive, inclusive, and seamless experiences, not just regulatory compliance.
Why digital remittances matter now
While bank transfers remain the most widely used method, mobile payment apps are gaining traction as digital habits grow. Exchange houses still meet some needs but often fall short for younger, digital-first users. This shift aligns with broader goals for digital transformation and inclusion, and digital remittances offer a meaningful way to support that mission by enhancing efficiency and trust.
What’s needed now is purposeful action. Institutions can ease remittance friction by addressing hidden fees, outdated systems, and complex identification processes. With the right digital infrastructure, transfers can happen in real time. Simpler methods like using mobile numbers instead of IBANs help users feel seen and served, especially in a region as diverse as the GCC. A seamless experience is one that meets people where they are, with tools that feel responsive to their needs.
GCC as a blueprint for digital trust
The GCC is well-positioned to lead the future of remittances, thanks to its young, connected population, strong tech foundations, and supportive regulation. Products like Visa+, which enable alias-based cross-border payments using mobile numbers, showcase this potential.
Such solutions can make cross-border transactions faster, safer, and more private, while also improving connectivity across payment systems in the region. By minimizing intermediaries, they help reduce costs and enhance reliability, transparency, and security. They also support financial inclusion by empowering small businesses and providing regulators with better tools to monitor transactions and prevent fraud.
This is just one example of how innovation can help bridge the remittance gap and meet evolving consumer expectations. As digital remittances become more embedded in everyday life, we need secure, flexible solutions built on trusted, interoperable ecosystems. This is about more than infrastructure – it’s about creating truly user-centric experiences.
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Building a better future for remittances
Remittances in the GCC represent more than transactions; they are lifelines connecting people, businesses and national economies. The ask is clear: make it fast, secure, and easy. At Visa, we believe the future of payments is human-centered, enhancing not just technology, but the connections that matter most. With the GCC positioned at this crossroads, we have an opportunity not only to innovate but also to lead globally, transforming remittance services into seamless experiences defined by trust, accessibility and effortless connectivity.
Dr. Saeeda Jaffar is the senior vice president and group country manager of GCC at Visa.
