It’s been a minute since Google introduced Wallet for all ages, and now it’s making some meaningful updates. Yesterday, Google announced that parents can now set their kids and teens up with a secure balance inside Wallet and top it up as they see fit. The kids can then use NFC-enabled devices to make payments on the go.
“It’s a practical way to teach children smart money habits and give them independence, all without needing to open a bank account,” said Google in the announcement.
Google holds all the (debit) cards
The feature is currently reserved for users in the US, with no word on when we can expect to see it elsewhere. When it does arrive, Google makes it clear that the balance can only be used at POS systems, and not online. Just about everything a parent needs can be managed via the Family Link app, as it was when the feature launched.
From there, guardians have complete control over their kids’ wallet. They can transfer money right into the account whenever they please. They’ll also have a direct feed on how and where their youngsters are spending their money. Google reckons it’ll eventually add the ability to schedule regular transfers.
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Parents may stop spending in its tracks, or unlock the balance at any time. Specific spending limits can also be tuned before sending the kids out of the house — and adjusted as necessary.
These join the features that already cater to the young’ins lucky enough to have a Google Wallet. Like being able to keep hold of their “supported passes like event tickets, library cards and gift cards in one convenient place.” When the feature finally rolls out elsewhere, you can get your kid set up by using this handy how-to.
