Google Wallet Lets Parents Set Up Controlled Payment System for Kids

Google has rolled out a new feature for its digital wallet service that enables parents in the US to set up a controlled payment system for their kids. The tool allows parents to top up their child's account with money, which can then be used anywhere Google Pay is accepted. This means kids don't need to have their own bank account to make purchases using their Android phone or Wear OS wearable.

The new feature aims to help parents teach healthy financial habits by allowing them to monitor what their children are buying and prevent overspending. Parents can see their child's account activity via a list of transactions or through push notifications from Family Link if they enable it. They can also remotely lock down the account in case the device goes missing.

This move is seen as Google playing catch-up, as Apple already offers a similar feature called Apple Cash Family. However, for Android users who worry about their kids' spending habits during summer break, this update seems useful.