Direct mail/coupon advertising provider ValPak now has an iPhone app. It's nicely executed and offers a number of ways to get access to deals: searching, browsing by category and a map-based view that shows users all the deals across categories in a specific area.

Previously, after launching a new PC site that was better optimized for mobile, the company saw a big uptick in mobile coupon "prints." In fact the company told me that there was a 25% conversion on average from mobile visitors. In this case "print" meant clicking through to a particular screen that showed a code.

A seach in the iTunes apps store reveals almost 30 apps that represent themselves as coupon providers or offer coupons in one way or another. 

I was speaking on Friday to a big online coupon site and they were raising questions about POS redemption of mobile coupons as a barrier. ValPak has solved that problem by simply asking users to "show coupon to business when placing order." 

Coupons are a big area of opportunity for mobile. We have plenty of data that support this proposition. Compete's recent smartphone survey also shows that mobile deals/coupons are of high interest to mobile consumers: