An indoor positioning system developed by Apple that can send push notifications to devices close by. It senses your location and puts it in context to push out deals, information, and even enable payments.
iBeacon tech is already being used in Apple stores. Wireless sensors recognize your iOS 7 devices and send you notifications with deals, notes about upgrades, and information about where to get other goods or assistance. Baseball parks are planning to install these sensors to provide users of the MLB At The Ballpark app with food coupons and history of the parks and teams.
The tool is designed to help the retail industry simply payments and offers. Plus, it works with more than just iOS 7 devices — Macs running OS Mavericks as well as Android devices running Android 4.3 with Bluetooth 4.0 can receive notifications from iBeacons.