Google Wallet Launches Free Supervised Spending Balance for Families
Google has launched a native supervised spending balance in Google Wallet for US families, allowing parents to hand children a capped digital allowance without requiring a bank account or separate app. The feature, powered by Marqeta (NASDAQ: MQ), provides technical infrastructure that enables a child to tap to pay in stores without holding a traditional bank account.
The new balance is issued as a prepaid Visa card through Pathward, N.A., a Member FDIC institution, under license from Visa U.S.A. Inc. This means customer funds are held by a chartered, federally insured bank, providing a level of protection similar to Apple Cash Family, which discloses that accounts are provided by Green Dot Bank, a Member FDIC.
The balance is free for families already using Android and Google Family Link for screen time limits and app approvals. This is in contrast to dedicated services like Greenlight, which charge $5.99 to $19.98 per month for similar features. The new balance offers daily spending limits, transaction history, notifications, and account lock controls, all of which can be set through Family Link or the Google Wallet website.