Google Wallet now lets parents send money securely to their kids - Engadget

Kids can use it from their Android phone or Wear OS device anywhere Google Pay is accepted. Google has announced a new feature for Google Wallet that enables parents in the US to set up a digital spending money pot for their kids and teenagers, which they can top up whenever they see fit. The tool, which Google sadly hasn't opted to give a catchy name, is designed to "help parents teach healthy financial habits," the company wrote in a press release. The idea is that they can monitor what their children are buying and prevent overspending by putting up virtual guard rails. Parents are able to see their child's account activity via a list of transactions or through push notifications from Family Link if they enable them. If they want to implement a "spending timeout" or just need to lock down the account when a device has gone missing, they can do so remotely at any time. Google Wallet means that kids don't need to have their own bank account to pay for things using their Android phone or Wear OS wearable. If the vendor accepts Google Pay, payments from their parent-supervised balance will be accepted. Apple already offers a similar feature called Apple Cash Family, so Google is pla