Voucher vs. Coupon — What's the Difference?

A voucher and a coupon, while similar, have distinct roles in the consumer world. A voucher is generally a prepaid document that can be redeemed for something of value, like goods or services. Vouchers often cover the entire cost of an item or service and are used as a form of payment. Coupons, on the other hand, are discounts on the purchase price of goods or services and usually require another form of payment to cover the remaining cost.

Vouchers are commonly used in a variety of settings, including as gift cards for retailers or as proof of entitlement to a specific service, like a hotel stay. Coupons are generally issued by manufacturers or retailers as part of sales promotions to encourage the purchase of a product or service. Coupons are often time-limited and may require meeting certain conditions, like a minimum purchase.

The issuance of a voucher typically involves an exchange of money or an equivalent value. For example, one might purchase a $100 voucher for a spa day. In contrast, coupons are usually distributed freely in various forms such as in newspapers, mailers, or online. Coupons do not have a prepaid value and simply reduce the amount needed to be paid at the time of purchase.

Both vouchers and coupons can be physical paper documents or digital codes. However, vouchers are more often associated with higher-value, longer-term services like travel bookings or special experiences, while coupons are more commonly used for everyday items and are often valid for a shorter period.