A white-label, multi-tenant, loyalty-native commerce engine. A bank, telco or airline launches its own branded marketplace on Merit's supply chain and loyalty infrastructure, without building a commerce stack.
Shopify-classStorefront, with points and cash at checkout
10,000+SKU catalog a tenant inherits on day one
200+GCC carriers through one delivery API
Brian Arfi Faridhi · Product Director
Slider 1 of 3 · Problem, solution, tier and benefit, differentiator, AI
Everyone wants retail redemption. Almost nobody can run commerce.
What the client lives with today
Head of loyalty
Wants retail redemption, cannot run logistics or sourcing
Marketing
The reward catalog looks like a 1990s portal, and converts like one
Finance and Ops
Mixed refunds, tax and settlement are manual. No warehouse, no carriers
Engineering
Off-the-shelf commerce does not talk to the loyalty ledger
Their member
Forced to pay all points or all cash, never both
What they get instead
A branded storefront, without building a commerce stack
Merit's catalog on day one. Zero inventory, zero sourcing
Points and cash on one slider, settled and taxed automatically
One delivery API across 200+ GCC carriers
Native link to the loyalty ledger and Merit ID
Arabic and RTL, local currency and VAT. A seller is live in under 24 hours
Tier and benefit Sales Budget 2026 v3.11
Tier
Who
Subscription
Tenant
Supply
Starter
D2C and SME, self-serve
$0
10%
8%
Growth
Established retailer
~$1,100
2%
6%
Scale
Multi-market programme
~$3,000
1%
5%
Enterprise
Airline, telco, Tier-1 bank
~$9,000
0.5%
4%
Starter enters free and crosses into Growth economics at about $13,750 of monthly GMV, so pricing walks a merchant up the ladder rather than gating them at the door.
AI core
Arabic search, launch criticalTypo-tolerant, Arabic first. Where imported platforms break, and it moves conversion directly.
Merchandising, and the moat under itRanked feed, bundling, price optimisation, visual search, generated catalog copy and SEO. All of it trained on cross-tenant transaction and point-burn data no competitor holds, so every sale improves it for every tenant.
How the platform compares generic commerce is not loyalty-native, loyalty engines are not commerce
✓ holds it ~ partial – does not
Capability
Merit
Shopify, VTEX
Loyalty engines
Rewards catalogs
Points and cash in one checkout
✓
–
–
–
Native loyalty-ledger integration
✓
–
✓
~
Owned catalog, orders and delivery
✓
~
–
–
Gulf fulfilment, Arabic-first
✓
–
–
–
Slider 2 of 3 · GTM
Airlines first, because one is already live
Clients on the product today
Al Fursan (Saudia)
Live
Flagship tenant, gift cards trading
SAB
Signed
API-first merchandise client
Merit Super App
Live
Merit's own tenant on the same engine
Pilot sellers
10 active
Supply side proven
Bank al-Etihad
In technical review
In-app marketplace against card points
Two motions, both sold
Self-serve for D2C brands, SMEs and apps adding commerce inside their own product. Shopify-adjacent, with a hook Shopify has no answer to: plug into Merit's catalog at a lower fee
Enterprise for airlines, telcos and Tier-1 banks carrying large under-redeemed point liabilities
Markets
Saudi Arabia
Phase 1, now
UAE and the Gulf
Phase 2, Q4 2026 into Q1 2027
Cross-border
Phase 3, 2027
Named targets, by market
Saudi
Saudia live, flynas, Riyadh Air · STC Qitaf, Mobily, Zain · SNB, Al Rajhi, Riyad Bank, SAB signed
UAE
Emirates Skywards, Etihad Guest, Air Arabia · e& Smiles, du · Emirates NBD, FAB, ADCB, Mashreq
Jordan
Royal Jordanian · Zain, Orange, Umniah · Arab Bank, Bank al-Etihad in pipeline
Airlines rank first because the relationship exists, not because the theory says so. Saudia is live and is the reference case. Telcos and banks rank below it on deal readiness, not on how big their point liability is.
Slider 3 of 3 · Revenue, tenants and roadmap
$869K a month by December, and every new tenant is configuration
$869.2KMonthly run-rate target, Dec 2026
~$10.4MAnnualised, the 2027 opening base
16 + 100Tenants and sellers, Dec 2026
<24hA seller's product from upload to live
Tenant ramp model
Month
Tenants live
Run-rate
September 2026
2
~$110K / mo
October 2026
5
~$270K / mo
November 2026
10
~$540K / mo
December 2026
16 + 100 sellers
~$869.2K / mo
Subscription alone gives about $320K of that. The rest comes from GMV commission and goods margin, which implies roughly $2.7M of GMV per tenant per month. Goods margin runs 8 to 20 percent.
Roadmap
Q4 2026
Self-serve tenant provisioning, so a store is created without engineering · seller payout and settlement · delivery on the 200+ carrier network · returns and RMA · promo engine · AED and VAT for the UAE
2027 H1
Embedded commerce API and SDK, so a partner keeps their own app and takes catalog, cart and checkout from Merit · recommendation engine on 2026 behavioural data · Gulf tenant acquisition
2027 H2
Dynamic slot monetization, a margin line that does not exist today · cross-border · one seller listing reaching every tenant storefront
The economics improve with every tenant rather than staying flat. The catalog, the delivery network and the payment rails are already paid for, so tenant seventeen costs a fraction of tenant one and sells the same product.
Appendix · Product proof
The Seller Portal is the supply side of this product, not a separate one
A seller lists once. The item reaches every tenant storefront on the same engine, and the member pays in points, cash, or both.
Seller Portal, add a productVariant-level listing against the shared catalog. A seller is live in under 24 hoursSeller Portal, catalog and stockSKU, variant, warehouse, price and stock health, across every tenant the seller suppliesAl Fursan storefront, liveThe same catalog on the tenant’s own brand, priced in Miles, with earn shown on the pageCheckout, Miles and card togetherOne order, split across points and cash, settled and taxed automatically
Supply and demand are one product, which is why a tenant launches without sourcing anything.
E-COMMERCE SOLUTION · 3 SLIDERS←→ navigate F full Esc grid D dark
