Google Wallet has rolled out a new feature that allows children to make payments if supervised by their parents.

With the new service, launched on Wednesday, parents will be able to give children access to complete digital payments on their Android device and use Google Wallet to pay in shops.

Children will also be able to store a variety of passes such as event tickets, library cards and gift cards.

Children's payment cards can only be added with the authorisation of their parents, who will be notified by e-mail each time their child completes a transaction.

The new tool will also allow parents to keep track of recent purchases, remove payment cards and disable access to passes using the Family Link service, which provides management of privacy settings and other tools, including data to understand the length of time children spend on their device and a tool to share their current location.

The service will be rolling out in the next two weeks and will be available in US, UK, Australia, Spain and Poland.

“Safety and security are core to the Google Wallet experience and this update also gives parents tools to help manage the Wallet experience for their children,” Google said in a statement..

Companies across the financial services and payments sector innovating to make financial literacy and services more accessible to children.

Earlier this month, Nordic challenger bank Lunar launched a banking app for children aged between 7 and 11 years old.

The bank said that the new platform, which is linked to the accounts of parents, will provide a fun and safe way for children to explore digital money management and help them build financial habits whilst allowing parents to maintain oversight.

In November, John Lewis introduced Nestlums, a money tracker that aims to help children learn positive money habits.

The Tamagotchi-style pocket money technology is designed to help kids between the age of four and eight keep track of the pocket money their parents have promised them.

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