https://techcrunch.com/2020/02/24/venmo-teen-debit-card/

Allowance is going digital. Venmo has been spotted prototyping a new feature that would allow adult users to create a debit card connected to their account for their teenage children. That could potentially let parents set spending notifications and limits while giving kids more flexibility in urgent situations than a few dollars stuffed in a pocket.

Delving into children’s banking could establish a new reason for adults to sign up for Venmo, get them saving more in Venmo debit accounts where the company can earn interest on the cash, and drive purchase frequency that racks up interchange fees for Venmo’s owner PayPal .