The Facebook Mobile Event which has been pulling in some great rumors including the Facebook Phone, introduced a great new feature for Facebook users which will bring in more excitement and fun. The newly unveiled feature announced on Wednesday will allow retailers and other merchants to offer coupons and special deals via the mobile application. Facebook pushed in this feature, to mark a stand while creating a competition in the market for mobile searches and advertising.

The feature is perfect for those who visit various places often.  The Facebook location feature will display a yellow icon indicating that a redeemable deal or coupon is available nearby.

Users can ”check-in” that particular store or restaurant and flash their handset’s screen to an employee to claim their deal. Wow, this would be fun. I need to stay more glued to my Facebook Mobile account via my iPhone.

Tim Kendall, Director Facebook Monetization, told:

We’re enabling merchants to push deals out to their existing customers and hopefully attract new customers

With the introduction of this great new feature, Facebook would not charge businesses directly as they list coupons and special deals through the mobile applications. Businesses would be required to purchase advertising in order to publicize their offerings on Facebook.

Gap Store was the first one to partner with the social network as it unveiled new Deals using the feature. The company’s campaign came flashing in, offering a pair of free jeans to the first 10,000 users who check into their local Gap store using Facebook’s mobile application.

It is also known that Facebook is in talks with some two dozen major chains including, H&M, 24-Hour Fitness, McDonalds and many more, for offering special deals.

Facebook is currently offering the new feature through the Facebook iPhone application, while Android users would be required to find local deals via a dedicated mobile website.