MOUNTAIN VIEW, Calif. — Google is expanding its digital wallet to give parents in the United States a new way to provide children and teens with spending money while maintaining oversight of how the funds are used.
Beginning Aug. 6, Google Wallet began allowing parents to create a secure balance for supervised children and teens younger than 18, according to a statement from Google.
“This tool is designed to help parents teach healthy financial habits while maintaining full oversight of their child’s spending through built-in safeguards,” Google said.
The parental controls include the ability to establish daily spending limits, review transaction histories and receive push notifications about account activity.
Parents can also lock or unlock the balance if a child’s device is lost or if what Google described as a “spending timeout” is needed.
Kids Can Tap & Pay
Children can use Android devices or Wear OS devices to make contactless payments at businesses that accept Google Pay, according to the company.
“Kids can use their Android device or Wear OS devices to securely tap and pay at their favorite local spots wherever Google Pay is accepted,” Google said. “It’s a safe, digital-first way for kids to manage their own money without the need for a formal bank account.”
The new feature expands Google Wallet’s family-focused capabilities while giving parents controls intended to help younger users learn to manage money and digital payments.
