Mobile vouchers provide more secure, convenient alternatives and higher conversion rates to paper based money-off coupons and gift vouchers. Research shows that paper vouchers have a very low redemption rate due to the inconvenience of having to carry them and physically have them at the time of redemption. Mobile vouchers on the other hand, can be a simple text based code sent via SMS, a two dimensional bar code sent via Multimedia Messaging Service (MMS) or even a highly secure encrypted code sent via Near Field Communications (NFC), all directly sent to the mobile phone. According to Juniper Research these electronic vouchers have a redemption rate of around 35% compared to 3% to 5% for paper vouchers.

Mobile Vouchers can be sent as part of a mass marketing campaign, or to a limited number of subscribers when they are in the vicinity of the retailer where the voucher can be redeemed, encouraging impulse purchases. Mobile messaging in the developed world should be used carefully in order to avoid being perceived as spam, something subscribers will not tolerate. MFSL recommends that any such services should be subscription based with simple opt out procedures.