Savings Catcher boosts Walmart app to No. 1

Walmart's app has climbed to the top spot as the most downloaded app in the lifestyle category of Apple's App Store, thanks to the release of Savings Catcher for mobile devices.

Until August 4, Savings Catcher was a tool strictly for desktop computer users. On Monday the mobile version hit the Apple App Store, launching it quickly into the top spot for its category.

Savings Catcher lets shoppers more easily compare prices on all purchases. Each in-store receipt carries a code that, when entered into a user's account, automatically searches the Web for lower prices and issues a credit in the form of a Walmart (NYSE:WMT) gift card for the difference when any are found.

For consumers, it's an easier way to save money. For Walmart, it's just the beginning of a new mobile platform. Embedded in Savings Catcher is a dynamic e-receipt that has a host of functionalities.

Each e-receipt is delivered to a dedicated receipt locker on Walmart's website, which also got a redesign this week, and has full search functionality. Walmart plans to use the platform to create predictive shopping lists and "smart" budgeting tools. Ultimately, shoppers will be able to input an amount and the app will suggest items and brands that will allow the shopper to stay within her budget.

"This is a platform on which we can build other applications," Gibu Thomas, Walmart senior VP, mobile and digital, global e-commerce said in June. "My hope is the least interesting thing about this is the e-receipt. It's the app being built on top of it that's really (important)."

The e-receipt was a collaboration between Walmart's Technology Center and its Walmartlabs division in California's Silicon Valley, as one of the retailer's many technology initiatives. The division has been on an acquisition tear, buying up 14 technology companies over the past three years. Most recently, it bought social shopping site Luvocracy.

For more:
-See this Savings Catcher video demonstration

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