GMV Max Coupon, Co-funded Program, Merchant Coupons: How 3 Types of TikTok Shop Discounts Differ

Sellers often mix up these 3 types of discounts without clearly distinguishing their mechanisms, leading to choosing the wrong tool for the right goal. Here is a full comparison table from the official documentation.

Detailed Comparison Table

Criteria	Co-funded Program	GMV Max Coupon	Merchant Coupons
Cost ratio	Set by the platform	Seller selects 1-50%	Set by the seller
Funding source	Seller + Platform	Seller + Additional platform subsidy	100% seller
Issuance mechanism	Dynamic issuance, platform vouchers	Precise issuance based on predictive algorithm (qCPX)	Bulk issuance
Scope of application	All platform products	Single/multi/entire shop	By product
Issuer	TikTok Shop	TikTok Shop	Seller
Opt-out	Restricted	Anytime (toggle on/off)	Anytime (toggle on/off)

Which One to Choose

GMV Max Coupon is best suited when you want to scale GMV while maintaining a stable ROI — because issuance is based on actual conversion predictions, not distributed randomly. This is also the only type among the three that receives additional subsidies from TikTok beyond the seller’s own contribution.

Merchant Coupons are suitable when you need full control over the discount program for specific products, independent of algorithms.

Co-funded Program is suitable when you want to participate in broad promotional campaigns actively organized by the platform, accepting a fixed cost ratio specified by TikTok.

Common Points Easily Confused

Both GMV Max Coupon and Merchant Coupons can be toggled on/off at any time — offering more flexibility than the Co-funded Program, which has restrictions when opting out.

Frequently Asked Questions

Can all 3 types of discounts be used simultaneously?
Some stacking rules depend on the region — GMV Max Coupon cannot be stacked with certain platform vouchers like XBP/VXP, but can be stacked with Merchant Coupons and flash sales.

Which type affects the product’s listed price?
None of these 3 types change the listed price — GMV Max Coupon and Co-funded Program are issued as platform subsidies, while Merchant Coupons are the seller’s own discounts at the time of purchase.

Source

Official GMV Max guide (updated to July 2026).