On Thursday, Google revealed that Google Wallet now provides an option for parents to establish a secure balance for minors under 18. The technology leader states that this new capability aims to assist parents in instilling responsible financial practices while keeping track of their child’s expenditures through integrated protections.

Parents have the ability to establish daily spending caps, monitor their child’s transaction logs, and opt to receive alerts every time a purchase occurs. They can also freeze or unfreeze the account if the child’s device gets misplaced, or implement a temporary “spending pause” to halt transactions at any moment.

This new functionality aligns Google Wallet more closely with rival financial solutions, such as Apple Cash Family, which enables parents to send funds to their kids while overseeing transactions and administering spending limitations.

Moreover, the company is positioning itself in competition with startups like FamZoo and Greenlight, which empower parents to educate their children about financial responsibility through prepaid debit card systems.

Children can utilize their Android devices or Wear OS gadgets to make payments wherever Google Pay is accepted. The tech company views this new functionality as a method for children to handle their finances without needing an actual bank account.

The feature is currently being rolled out in the United States. It remains unclear when or if Google intends to extend this new service to other areas.

This new option builds upon Google’s announcement last year that allowed parents and guardians in select nations to enable their children to engage in digital payments on Android devices under their supervision. A payment card can solely be linked with parental approval, and parents receive an email notification each time their child conducts a transaction.

With last year’s enhancement, children also gained the capability to utilize Google Wallet for accessing supported passes, including event tickets, library cards, and gift cards.