GCCNet Explained: The GCC Regional ATM and Card Network

GCCNet is different from AFAQ.

AFAQ is centered on regional bank transfers and cross-currency settlement.

GCCNet is centered on retail card/ATM switch interoperability.

National switches include:

• Saudi Arabia — mada

• UAE — UAESWITCH

• Bahrain — BENEFIT

• Kuwait — KNET

• Oman — OmanNet

• Qatar — NAPS

Conceptual flow

What GCCNet achieves

• Cross-GCC ATM/card usability;

• Network interoperability;

• Regional routing;

• Reduced dependence on purely external routing for eligible transactions.

What it is not

It is not:

• AFAQ;

• An RTGS;

• A stablecoin rail;

• A single GCC bank account;

• A common GCC currency.

Why it matters for fintech/payment companies

Any business designing a GCC payment product should separate:

They are different product stacks.

Related guides

• Main GCC Payments Primer

• AFAQ Explained

Authoritative sources and update date

Research updated: September 16, 2026.

This content is designed as an explainer. Payment availability, participant-bank coverage, cut-off times, fees, FX spreads, stablecoin treatment, and licensing requirements can change. For an actual transaction, confirm the current position with the relevant central bank, payment-system operator, sending institution and receiving institution.

GCC / regional infrastructure

• Gulf Payments Company — AFAQ

• Gulf Payments Company — AFAQ FAQs

• Gulf Payments Company — AFAQ onboarding

• CBUAE — AFAQ GCC RTGS

• CBUAE — Buna Arab Regional Payment System

Saudi Arabia

• Saudi Central Bank (SAMA) — payment systems

• SAMA — sarie instant payments

• SAMA — exchange rates

United Arab Emirates

• CBUAE — Payments and Settlements

• CBUAE — UAEFTS

• CBUAE Rulebook — Payment Token Services Regulation

Bahrain

• Central Bank of Bahrain

• CBB — Stablecoin Issuance Framework

Kuwait

• Central Bank of Kuwait — Payment Systems

• CBK — Exchange Rate Policy

• CBK — Virtual-Assets Transactions Procedures

Oman

• Central Bank of Oman — Payment Systems

• CBO — Fixed Peg of OMR to USD

• Financial Services Authority — VASP registration / AML-CFT

Qatar

• Qatar Central Bank — QA-RTGS

• QCB — Retail Payment Systems

• QCB — Monetary Policy / QAR peg

• QFCRA — stablecoins and cryptocurrencies as Excluded Tokens