Just iterate over them:
for file in *gz; do
gunzip -c -- "$file" > /mnt/s3/data_transfer/"${file%.gz}"
done
The "${file%.gz}" is shell syntax that will return the value of $file with the final .gz removed.
Note that this quick-n-dirty approach is less robust than Stéphane's below, and if you run it in a directory with no gz files, it will try to gunzip the *gz pattern itself. This won't be a problem as long as you do actually have file names ending in gz. Also, unlike his, this one will not exit with a fail status if one of the files fails to be decompressed correctly. If these are problems for you, please use his approach instead.