Key Takeaways
- Google is bringing tap-to-pay Wallet app to kids with Family Link accounts, allowing supervised kids to make contactless payments in stores.
- Parents can monitor transactions, approve cards, and remove cards remotely through the Family Link app, ensuring safety and supervision.
- Google Wallet for kids will store gift cards, event tickets, and bank-issued debit and credit cards, making giving money to children easier and teaching financial responsibility.
The tooth fairy can finally start delivering electronic money, thanks to Google. The company is bringing its tap-to-pay Wallet app to kids with Family Link accounts, starting next year.
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The feature will allow supervised children to make contactless payments in stores using their Android phones (via 9to5Google). Parents will still need to approve every card added to their child’s Wallet, and will be able to monitor transactions and even remove cards remotely through the Family Link app.
It was a smashing success on Google’s kids’ watch
Google tested tap-to-pay for kids on the Fitbit Ace LTE kids’ smartwatch earlier this year, and it got great reviews from both children and parents. Google emphasized it built the new experience with safety in mind. Authentication requires a PIN, fingerprint, or facial recognition, and parents can monitor their children’s spending every step of the way.
The new Wallet for kids will be able to store gift cards, event tickets, and bank-issued debit and credit cards. It will not be able to store digital IDs, and children will not be able to make online purchases using Google Wallet. Safety and supervision are at the core of the new experience.
The future of money is digital
It comes at the right time. The feature makes giving money to children much easier. No more will parents need to hunt around the house for spare change or make an emergency midnight run to the ATM when a tooth falls out. Google Wallet for kids could revolutionize pocket money for kids and teach them financial responsibility at the same time.
The expansion of Wallet into younger demographics is also strategic for Google. Nearly 70% of all payments in the USA and Canada are now digital, and Google is hoping to get ahead of the curve by being there as the next generation grows up in a digital age. Parents can introduce their children to digital finance and foster a sense of responsibility. The high levels of control Google gives to parents through the Family Link app is perfect for supervising the little ones’ spending.
The new app will be available in 2025. It will be available immediately upon release in several countries, including the USA, and most likely on Pixel devices first.