Merit is from the Latin meritum ("deserved, earned") — also the ancient Egyptian Meryt ("beloved"). Merit Ptah (c. 2700 BCE) — sometimes cited as the first named woman physician in recorded history; an ancient Egyptian physician depicted in a tomb in Saqqara whose existence has been debated by modern Egyptologists. 2950 BCE); her tomb at Abydos is one of the largest 1st-Dynasty royal tombs.
Merit does not currently appear in the US Social Security Administration's top 1,000 girls' names, so we don't publish a US rank or birth count for it. That says nothing about the name's standing elsewhere in the world — only that it sits outside the ranked US data we rely on.
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In Pythagorean numerology the letters of Merit reduce to 2, The Peacemaker. This is a traditional interpretive system, not a factual claim about the name.