Gratifii says its largest enterprise quarter has put Qantas, Woolworths MarketPlus and other major loyalty programs onto its expanding rewards marketplace. The commercial reach is significant, but the update leaves transaction volumes, margins and cash contribution largely unquantified.
- Binding three-year Qantas agreement now live
- Woolworths MarketPlus proof of concept targets mid-November launch
- More than 30 million additional member accounts across new clients
- Connect+ Marketplace catalogue reaches about 4,000 physical products
- Five further enterprise opportunities in pipeline, with two expected to close in November
Qantas and Woolworths anchor Gratifii’s enterprise push
Gratifii Limited (ASX:GTI) says it has reached a step change in customer mix, with household names including Qantas and Woolworths selecting its rewards technology during what it describes as a record quarter for enterprise wins. The presentation adds detail to the Qantas and Woolworths channel launch, which had opened distribution channels reaching millions of loyalty members.
Qantas is already live under a binding three-year agreement, with movies and experiences available through the Qantas Marketplace. Gratifii says early sales have been recorded, while a marketing campaign to Qantas Frequent Flyer members is scheduled to begin from mid-November. The arrangement connects through a single API and allows members to earn or use Qantas Points on the available rewards.
New channels add more than 30 million reported accounts
Gratifii says its new clients represent more than 30 million additional member accounts, on top of the 18 million accounts already accessible through its platform. The figures include Qantas at 18.9 million reported members, Woolworths MarketPlus at 10.9 million, Blackhawk Network at 3.6 million, RAC WA at 1.3 million and EML Payments, which is expanding its range with more than 80 retail gift cards.
Those figures are programme memberships rather than a count of unique individuals, and Gratifii notes that members may hold accounts across more than one programme. Woolworths MarketPlus remains a six-month proof of concept, although the company is targeting a mid-November live launch with revenue from day one. RAC WA is targeted to go live on the Connect+ Marketplace before the end of calendar 2026.
Marketplacer expands rewards beyond digital products
The company is using its strategic investment in Marketplacer to turn Gratifii Connect into Connect+, a fuller rewards marketplace combining digital cinema tickets, attractions, experiences and gift cards with physical products. The catalogue now contains about 4,000 products across categories including electronics, fashion, homewares, travel and children’s goods, with the stated ambition to grow beyond 20,000.
Gratifii says Marketplacer allowed the Qantas integration to go live within two months and provides the marketplace functions for supplier onboarding, catalogue management, orders, payments, returns and fulfilment. Suppliers named in the presentation include Georg Jensen, Rip Curl, Country Road and Breville, while the company says five additional enterprise deals are in its pipeline and two are expected to close in November.
Execution milestones must now convert reach into revenue
The update sets out a commercial model spanning curated rewards, rewards-store operation and full loyalty-program operation. Revenue can come from margins on tickets, experiences and gift cards, implementation and platform fees, or broader technology, marketing and service fees depending on the client relationship.
That distinction matters because the presentation provides no revenue, transaction-value, margin or cash-impact figures for the new wins. The next measurable tests are Qantas sales after its November campaign, Woolworths’ conversion from proof of concept to live deployment, RAC WA’s launch and the closing of further enterprise deals. Gratifii is also targeting completion of its planned Simplicity acquisition in the first quarter of calendar 2027, adding another execution milestone to an increasingly ambitious growth programme.
Bottom Line?
Gratifii has widened its distribution reach materially, but the investment case now depends on turning member access and marketplace scale into disclosed transaction volumes, margins and cash generation.
Questions in the middle?
- How much transaction value and margin will the Qantas marketplace generate once the November campaign reaches Frequent Flyer members?
- Will Woolworths MarketPlus convert from a six-month proof of concept into a larger, durable commercial relationship?
- Can Gratifii deliver the RAC WA launch, two further enterprise wins and the planned Simplicity acquisition without diluting execution focus?