Yowza is a very interesting application that has become available for the iPhone and iPod Touch. Created by Heroes star Greg Grunberg, the app is trying to change the way we use coupons and discounts in stores. We have all used a coupon at one point in our lives and if you shop a lot, chances are you have a whole booklet of the little pieces of paper.

Yowza is an application that offers digital coupons that can be redeemed right from your phone, without the need to carry a wallet full of paper ones. The idea is that major retailers will sign on to their program and begin offering coupons for the masses. The app uses your location and then shows what coupons are available in the area. Using a coupon, users can also track their savings which are actually publicly hosted and the total savings of all Yowza users will eventually be posted on an updated billboard. The app in itself is really a stroke of genius. It gives shoppers a chance to have unlimited access to coupons from their favorite stores and have them stored digitally on their device. The only real catch with the whole thing is that it has received a lot of hype, but not a lot of participation yet. In my area, there are only a few stores that have signed on, and of those stores, some are just advertising. But searching in L.A. users will find a lot more coupons offered.

Overall, this app is a great concept and if more major retailers sign on to the program, this app could see a boon in downloads and become a standard in coupons. But for now there is not enough retailers participating to make it worth while. The app is available free so download it and see what's offered in your area.