Google Wallet adds parental controls for kids' spending balances

Google announced that its Wallet app will support a parental-controlled balance for users younger than 18. Guardians can allocate a set amount, impose daily spending limits, and audit every transaction through built-in reporting. Real-time notifications are sent for each purchase, and the account can be locked or temporarily disabled if the device is lost or spending needs to be halted.

The capability mirrors offerings from Apple Cash Family and competes with fintech startups FamZoo and Greenlight that provide prepaid debit solutions for youth. Children can tap to pay on Android phones or Wear OS devices wherever Google Pay is accepted, without needing a traditional bank account. The update is currently available only in the United States, with no timeline disclosed for other markets.