Google Wallet now lets parents set up secure balances for their kids
Google has introduced a feature for Google Wallet that allows parents to set up secure balances for children under 18. The tool includes parental controls such as spending limits, transaction monitoring, and the ability to pause spending.
Why it matters
This move expands Google's footprint in the financial technology space, directly competing with established family-focused banking and payment apps.
Google announced on Thursday that Google Wallet will now allow parents to set up a secure balance for children under 18. The tech giant says the new feature is designed to help parents teach healthy financial habits while maintaining oversight of their child’s spending through built-in safeguards.
Parents can set daily spending limits, review their child’s transaction history, and choose to receive notifications whenever a purchase is made. Parents can also lock or unlock the account if the child’s device is lost, or activate a temporary “spending timeout” to pause spending at any time.
The new feature brings Google Wallet more in line with competing financial tools, including Apple Cash Family, which lets parents send money to their children while monitoring transactions and managing spending controls.
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