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.
