Google Wallet Launches Parent-Managed Digital Balances for Minors

Google launched a new feature for Google Wallet in the United States that allows parents to create and manage secure digital balances for children and teenagers under 18. Integrated with Family Link, the tool enables parents to transfer funds directly to their children, establish daily spending limits, and monitor transaction history through push notifications. Parents also maintain the ability to remotely lock or unlock the account.

Minors can use the funds for tap-to-pay purchases at physical stores using NFC-enabled Android and Wear OS devices. To maintain safety, the service prohibits person-to-person payments and online or in-app purchases. Google also restricts spending at adult-oriented merchants, including those selling firearms, gambling, tobacco, and alcohol.

Lisa Yokoyama, Google Pay Product Management director, stated the tool provides a safe and simple way for parents to manage their children's money as the back-to-school season approaches. The update positions Google Wallet as a direct competitor to existing financial tools for families, including Apple Cash Family, Greenlight, FamZoo, Venmo, and Cash App.