Google has launched a new function in Google Wallet that allows parents to manage money spent by their kids. Now American parents can set up Google Wallet Secure Balances for kids and teens under 18 years old. The feature enables children to spend money in stores using an Android phone or a Wear OS watch without requiring a bank account.
Google Wallet Now Lets Parents Set Up Secure Balances for Kids
Parents will be able to recharge their kid’s balance anytime they wish. The kid will be able to use the balance to make payments in stores supporting Google Pay through tapping his phone. According to Google, this feature will allow kids to learn to spend money responsibly and safely and give parents full control over the process.
All these functions will be accessible to parents through Family Link. Parents will be able to monitor every purchase made by their kids, view transaction history, and set spending limits. If the phone is stolen or parents want to stop spending for a certain time, they can easily lock and unlock the balance. While companies continue improving their digital features, Apple Intelligence Updates iOS 27 also highlight the growing focus on smarter technology experiences.
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More Features Are Coming Soon
Google has also announced that yet another useful feature is coming soon. In the future, parents will be able to set up recurring payments, which means that it will be convenient to send allowances automatically once a week or month, rather than doing it manually every time. However, Google hasn’t stated the date when this new feature will be launched.
Moreover, there are several safety regulations to follow. First, kids can’t spend their balance to purchase services from Google. It is impossible to send person-to-person money transfers and make payments for age-restricted items or services, such as alcoholic beverages and gambling.
Google Competes With Other Payment Services
This update makes Google Wallet almost identical to other family payment applications currently existing on the market. For instance, Apple has introduced its own application called Apple Cash Family. Venmo, Cash App, FamZoo, and Greenlight are other applications allowing users to manage money for teens under supervision of the parents.
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Previously, Google had launched the program enabling supervised digital payment for kids. However, at the initial stage of its development, the parents could only approve the payment cards and receive emails when their children made purchases. Moreover, children could get their digital passes (tickets, library cards, gift cards) using Google Wallet.
Rolling Out in the United States
This feature for maintaining security is being rolled out in the US at the moment. No details on when this will be released elsewhere have been disclosed by Google at the time of writing.
With this new feature, Google wants to help make digital payments easy and safe for families to use. Parents can guide their children on how to manage money, while still being in charge of the finances. News source eTimes Pakistan.
