RetailMeNot Coupons, the iPhone app that lets you “Save When You Want, Where You Want,” has just been upgraded to version 2.0.

RetailMeNot Coupons is, of course, the official app of the popular deals website, RetailMeNot.com.

Given that the word “coupons” is part of the name of the app itself, it’s not really surprising that RetailMeNot Coupons contains a collection of thousands of coupons.

The app lets you browse coupons from numerous stores. Once you find a coupon to your liking, you can easily share it with friends, save it for later, and redeem it in-store just by flashing your phone at checkout.

Just five months after its launch in the App Store, RetailMeNot Coupons has already received its big 2.0 update.

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The biggest feature of RetailMeNot Coupons 2.0 is its support for location-based coupons.

With the updated app, you have the option to get notified when you’re near a store that happens to have deals up on RetailMeNot.

You also get the ability to find RetailMeNot partner merchants that are just around the corner from where you are.

Optimized for iPhone 5 and iOS 6, RetailMeNot Coupons 2.0 is available now in the App Store for free.

RetailMeNot Coupons 2.0 also includes Passbook integration for easier mobile coupon redemption and expiration alerts for your saved coupons.