* National R&D Center for the U.S. Department of Energy.
Due to the increased capabilities of Personal Electronic Devices (PEDs), many individuals are using these wireless devices, such as handheld computing platforms (e.g., cellphones, smart phones), wrist-worn computing systems (e.g. smart watches), or other mobile computing systems (e.g., tablets, laptops ) to store or access sensitive information (e.g., financial account information) or to access private networks (e.g., corporate networks).
Financial transactions cover any type of goods and services, cash, and currencies exchanges or transfers, financially regulated securities products (e.g., stock, bonds, mutual funds, exchange traded funds/ETFs, IRAs, 401Ks retirement plans, insurance, etc.) and all new classes of digital assets (e.g., crypto currencies, stable value coins, non-fungible tokens, carbon credits, etc.).
The wide-ranging use of these financial transactions can vary from the use of cell phone apps to the use of more conventional online-client server methods and topologies.
In some instances, buyers and sellers may conduct financial transactions via intermediary communication network, such as the Internet, rather than cellular communication or NFC or they may connect to a website using enterprise software.
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