Google has introduced a new feature to its Google Wallet service, allowing parents to set up secure financial accounts for their children under 18. This move aims to teach young users about healthy financial habits while offering parental oversight through spending limits, transaction history reviews, and notifications.

The updated feature also includes the ability to lock or unlock the account when a child’s device is lost, as well as a temporary “spending timeout” if needed. Parents can compare this tool with alternatives like Apple Cash Family and startups such as FamZoo and Greenlight, which use prepaid debit cards.

Children can manage their own money using Android devices or Wear OS devices wherever Google Pay is accepted, without the need for a traditional bank account. This update follows last year’s announcement that parents in certain countries could allow children to use digital payments on Android devices under supervision, with parental consent required.

The feature is currently rolling out in the United States and it remains unclear when or if Google plans to extend it to other regions. The tech giant sees this as a step towards empowering younger generations in financial literacy, while ensuring that parents retain control over their child’s spending habits.