Asda is a step closer to doing away with all paper coupons and using virtual vouchers after signing up Sir Terry Leahy-backed tech company Eagle Eye and Toshiba to digitalise couponing instore.

Though Asda say the futuristic technology will be used for brand-led promotions, it also opens up the opportunity for the supermarket to deliver instant, digital 10% Asda Price Guarantee vouchers further down the line.

The digital coupons, which will work on any point of sale across the Asda estate, can create significant opportunities for brands. Suppliers can create and issue offers to shoppers instantly and then gather real-time data on the success of their vouchering campaigns. This means future offers can be better tailored, whilst costing brands less than the traditional paper-based couponing.

“The platform also helps to eliminate fraud by ensuring that coupons are only redeemed against valid products,” said Eagle Eye chief executive Phill Blundell.

Currently the UK coupon market is worth £1.6bn, after rising in value 100% over the last five years.