A method and system generates, distributes, stores, redeems, validates and clears electronic manufacturer coupons and electronic store coupons. A coupon mint generates unforgable blank digital coupons. The promoter of the offer then writes the terms and conditions and other details of the offer, on blank coupons to customize these. These customized coupons are digitally signed by the promoter and distributed to potential customers. A customer may either present these coupons electronically for redemption to an online store, or print these coupons and present them to a conventional offline store. The store may check the authenticity of a coupon by verifying the digital signature and also verifying if the coupon has not been used earlier by contacting a verification center. The store collects all redeemed coupons and sends these to manufacturer for clearing. The verification center verifies that the coupon is authentic and has not already been used before.