The free-to-download app for iPhone and Android updates shoppers on "wow offers" at Poundland, such as two items for £1.
It also flags up promotions on seasonal and special product ranges at the retailer, such as the Queen's Diamond Jubilee, outdoor dining, and the Olympics.
A store locator with a Street View option enables customers to locate their nearest Poundland store to get the bargains.
"Household budgets continue to be squeezed and more and more people are now taking the time to shop around to ensure they save money," said Jim McCarthy, the chief executive at Poundland.
"We wanted to provide our customers with an app to make it easy for them to see what bargains they can find in store, as well as attracting new customers into our store.
"We feel our customers will welcome our tool and we hope it helps families to save even more each week on household essentials and affordable treats."
Anyone who downloads the Poundland app between May 23 and June 1 will be automatically entered into a prize draw to win a Sony Xperia Arc S smartphone.