Venmo is Launching a New Feature for Teens

Key Points:

• Venmo is launching a new feature for teens aged 13 and over to use the app with parental supervision.
• The feature will allow teenagers to track expenses, withdraw money, and make purchases using a debit card connected to a parent’s account.
• Parents will have the ability to set limits on spending, view transaction history, and control the types of purchases their child can make.
• The move comes as Venmo looks to expand its user base and capture the younger demographic.
• Many teens already use Venmo informally with their parents or friends, but this new feature formalizes the process and adds additional layers of security and parental oversight.

Hot Take:

This new feature from Venmo is a smart move in a crowded payment app market. By catering to younger users and addressing the unique needs of the teenage demographic, Venmo has an opportunity to establish itself as the go-to payment app for a new generation of users. The addition of parental oversight and controls also adds an extra layer of safety and security, which is always a plus when dealing with technology. It remains to be seen how popular this new feature will be, but it’s a smart move for Venmo and shows that they are committed to staying ahead of the curve when it comes to payment technology.

Original article:https://lifehacker.com/you-can-now-open-a-venmo-account-for-your-teen-and-mon-1850461312