[eng] Electronic multicoupons are the digital version of paper-based booklet of coupons, which allow a customer to obtain goods or services from a merchant typically with discounts or gifts. In this paper, we propose a multicoupon scheme for multi-merchant environments that enhances the security and the efficiency as regards the previous solution that deals with this kind of scenario. On one hand, our scheme meets basic security requirements (unforgeability, reuse detection), but also unsplittability. This fact will help to increase the trust on the part of merchants. On the other hand, we focus on achieving a high degree of privacy for customers (anonymity, unlinkability, confidentiality) that will contribute to gaining the trust of the involved customers. Moreover, we provide measures to protect honest parties from dishonest participants, keeping in mind the scalability and efficiency of the multicoupon scheme, to attract customers and merchants. In addition, we show by implementation that our proposal outperforms previous solutions of this kind.