Key facts
- Google Wallet now allows parents to set up secure spending balances for children under 18.
- Parents can establish daily spending limits and monitor transaction history.
- Features include purchase notifications, account locking, and temporary spending pauses.
- Children can use Android and Wear OS devices for tap-and-pay transactions.
- The new functionality is rolling out in the United States.
Google Wallet has introduced a new feature enabling parents to establish secure spending balances for their children under 18. This update allows parents to set daily spending limits, review transaction history, and receive notifications for purchases. Additionally, parents can remotely lock or unlock their child's account and activate temporary spending timeouts.
The company stated the feature is designed to help parents teach healthy financial habits while maintaining oversight. Children can utilize their Android or Wear OS devices for contactless payments wherever Google Pay is accepted, offering a way to manage money without a traditional bank account.
This move positions Google Wallet alongside competing financial tools such as Apple Cash Family, which offers similar money transfer and spending management capabilities for parents and children. It also competes with specialized financial literacy platforms like FamZoo and Greenlight that utilize prepaid debit cards.