Google is putting pocket money inside Wallet, and parents control every tap

Google is rolling out a new feature within Wallet that gives parents more control over their children's digital spending. The feature allows parents to create a separate, supervised Wallet balance for kids and teens under 18 in the United States. Parents can load funds onto this balance, which can then be used on Android phones or Wear OS smartwatches for contactless Visa payments, without needing a traditional bank account.

Through Google Family Link or the Google Wallet website, parents can add money and set limits like daily spending caps. They can also temporarily lock or unlock the balance and view recent purchase transaction history. If a child reaches their spending limit, transactions will be declined until the next day or until the parent changes or removes the limit.

Parents will be notified of their child's purchases and can review the transaction history through Family Link. In case of a lost device, parents can lock or remove the balance from that specific phone or smartwatch while keeping the account active. The balance is capped at $4,000, with a maximum of $2,000 added per week. Once funds are added to the balance, they cannot be reversed individually; a family manager would need to close the balance and receive a refund for any remaining funds.

The new balance option provides Google with direct control over daily spending, keeping children away from their parents' main bank accounts. This gives kids more independence to choose their spending, while still allowing parents to intervene if needed. Sony is set to unveil its next Xperia phone, possibly the Xperia 10 VIII, in just a few days.