Google Wallet Introduces Digital Allowances for Kids

Google Wallet has introduced a new feature to help parents manage their children's finances. The company is allowing parents in the US to set up a 'secure balance' for kids and teens under 18, without requiring a bank account. This digital allowance can be used at any store that accepts Google Pay through tap-to-pay.

The secure balance feature allows parents to view their child's spending limits, account activity, and transactions from within their own account. Parents can also set up optional notifications for purchases made by their child via Family Link, and remotely lock their child's balance in case of a lost or stolen device.

This move is part of Google's efforts to make managing finances easier for children. The company has previously rolled out access for kids through Family Link, which started on the kid-centric Fitbit Ace LTE last year.