Meaning :

A voucher is defined as a document or code that grants a discount, enables  the redemption of a product, or serves as confirmation of payment.

Example:  For instance, a ₹200 Amazon voucher can be applied to reduce the final bill  when buying products from Amazon.

How to Understand :  

A voucher functions similarly to prepaid money or a discount coupon, which can be  utilized while purchasing goods or services.

Importance :

Vouchers play a significant role in reducing costs, enhancing affordability for consumers.

They are commonly used in business for accounting purposes and reimbursement  processes.

Vouchers encourage planned and purposeful shopping, helping consumers make  informed spending decisions.

They are also beneficial for gifting, allowing the recipient to choose their desired item.