Bluetooth Smart, the low-energy consuming, intelligent sensor technology developed by the Bluetooth Special Interest Group (SIG), is the magic behind several payment and marketing trials being adopted by processors and retailers alike. Beacons powered by Bluetooth Smart technology make the promise of a mobile wallet, mobile couponing, and location-based services possible. Consumers should expect their in-store experience to look and feel completely different by the end of 2014.

"In 2014, Parks Associates expects Bluetooth to play a much larger role in the mobile wallet ecosystem," said Jennifer Kent, senior analyst, Parks Associates. "Not only does Bluetooth Smart have support from major players like PayPal and Apple, but it also enables three crucial mobile wallet functions: payment from mobile phone to point-of-sale terminal, passive transmission of marketing messages, and the ability to detect consumers' location in-store."

From the article, "Bluetooth Smart Technology Unveiled as the Magic Behind Beacons."

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