diff --git a/admin/woocommerce-admin-settings.php b/admin/woocommerce-admin-settings.php
index e2c4faeef8e..786395ea94f 100644
--- a/admin/woocommerce-admin-settings.php
+++ b/admin/woocommerce-admin-settings.php
@@ -133,7 +133,15 @@ $woocommerce_settings['general'] = apply_filters('woocommerce_general_settings',
 		'type' 		=> 'checkbox',
 		'checkboxgroup'	=> 'start'
 	),
-	
+
+	array(
+		'desc'          => __( 'Enable coupons', 'woocommerce' ),
+		'id'            => 'woocommerce_enable_coupons',
+		'std'           => 'yes',
+		'type'          => 'checkbox',
+		'checkboxgroup' => '',
+	),
+
 	array(  
 		'desc' 		=> __( 'Enable coupon form on checkout', 'woocommerce' ),
 		'id' 		=> 'woocommerce_enable_coupon_form_on_checkout',
diff --git a/assets/js/admin/woocommerce_admin.js b/assets/js/admin/woocommerce_admin.js
index 5b8cfb16860..2ce76bbcc4f 100644
--- a/assets/js/admin/woocommerce_admin.js
+++ b/assets/js/admin/woocommerce_admin.js
@@ -154,5 +154,14 @@ jQuery(function(){
 		}
 		
 	}).change();
-    
+
+	// Enable/disable the coupon form on checkout checkbox
+	var $woocommerce_enable_coupons = jQuery('#woocommerce_enable_coupons'),
+		$woocommerce_enable_coupon_form_on_checkout = jQuery('#woocommerce_enable_coupon_form_on_checkout'),
+		toggle_woocommerce_enable_coupon_form_on_checkout = function () {
+			$woocommerce_enable_coupon_form_on_checkout.closest('fieldset').attr('disabled', ! $woocommerce_enable_coupons.is(':checked'));
+		};
+	toggle_woocommerce_enable_coupon_form_on_checkout();
+	$woocommerce_enable_coupons.change(toggle_woocommerce_enable_coupon_form_on_checkout);
+
 });
\ No newline at end of file
diff --git a/classes/class-wc-cart.php b/classes/class-wc-cart.php
index ee0b1bd1c57..1545161fec6 100644
--- a/classes/class-wc-cart.php
+++ b/classes/class-wc-cart.php
@@ -1224,7 +1224,10 @@ class WC_Cart {
 		 */
 		function add_discount( $coupon_code ) {
 			global $woocommerce;
-			
+
+			// Coupons are globally disabled
+			if ( get_option( 'woocommerce_enable_coupons' ) == 'no' ) return false;
+
 			$the_coupon = new WC_Coupon($coupon_code);
 			
 			if ($the_coupon->id) :
diff --git a/templates/cart/cart.php b/templates/cart/cart.php
index ced8cd1fe6e..31892e439c7 100644
--- a/templates/cart/cart.php
+++ b/templates/cart/cart.php
@@ -86,9 +86,13 @@ global $woocommerce;
 		?>
 		<tr>
 			<td colspan="6" class="actions">
-				<div class="coupon">
-					<label for="coupon_code"><?php _e('Coupon', 'woocommerce'); ?>:</label> <input name="coupon_code" class="input-text" id="coupon_code" value="" /> <input type="submit" class="button" name="apply_coupon" value="<?php _e('Apply Coupon', 'woocommerce'); ?>" />
-				</div>
+
+				<?php if ( get_option( 'woocommerce_enable_coupons' ) == 'yes' ) { ?>
+					<div class="coupon">
+						<label for="coupon_code"><?php _e('Coupon', 'woocommerce'); ?>:</label> <input name="coupon_code" class="input-text" id="coupon_code" value="" /> <input type="submit" class="button" name="apply_coupon" value="<?php _e('Apply Coupon', 'woocommerce'); ?>" />
+					</div>
+				<?php } ?>
+
 				<?php $woocommerce->nonce_field('cart') ?>
 				<input type="submit" class="button" name="update_cart" value="<?php _e('Update Cart', 'woocommerce'); ?>" /> <a href="<?php echo esc_url( $woocommerce->cart->get_checkout_url() ); ?>" class="checkout-button button alt"><?php _e('Proceed to Checkout &rarr;', 'woocommerce'); ?></a>
 				<?php do_action('woocommerce_proceed_to_checkout'); ?>
diff --git a/templates/checkout/form-coupon.php b/templates/checkout/form-coupon.php
index 24122457906..cfd764f70cf 100644
--- a/templates/checkout/form-coupon.php
+++ b/templates/checkout/form-coupon.php
@@ -2,7 +2,7 @@
 /**
  * Checkout Coupon Form
  */
-if (get_option('woocommerce_enable_coupon_form_on_checkout')=="no") return;
+if ( get_option( 'woocommerce_enable_coupons' ) == 'no' || get_option( 'woocommerce_enable_coupon_form_on_checkout' ) == 'no' ) return;
 
 $info_message = apply_filters('woocommerce_checkout_coupon_message', __('Have a coupon?', 'woocommerce'));
 ?>
diff --git a/woocommerce-functions.php b/woocommerce-functions.php
index 56d7eb7df1d..13d805dd32b 100644
--- a/woocommerce-functions.php
+++ b/woocommerce-functions.php
@@ -590,7 +590,10 @@ function woocommerce_process_login() {
  **/
 function woocommerce_process_coupon_form() {
 	global $woocommerce;
-	
+
+	// Do nothing if coupons are globally disabled
+	if ( get_option( 'woocommerce_enable_coupons' ) == 'no' ) return;
+
 	if (isset($_POST['coupon_code']) && $_POST['coupon_code']) :
 	
 		$coupon_code = stripslashes(trim($_POST['coupon_code']));