Empowering the Next Generation: How Cash App Is Building Safe Financial Access for Teens
Today’s teens are already active participants in the digital economy. They’re earning through neighborhood gigs, managing part-time jobs, and building businesses online. But despite their economic activity, most lack access to modern financial tools built for their needs. In a new white paper released today, we explore how Cash App is working to solve this challenge while setting new standards for teen financial safety. We believe that early access to financial tools — when paired with the right protections — can help build a more financially capable generation.
A Generation with Growing Financial Independence
The numbers tell a compelling story:
- 95% of U.S. teens already own a smartphone
- 93% of Gen Zs under 25 already use at least one mobile payment app
- 58% of teens are earning money, with 42% earning through digital channels
- Two in five teens earn through multiple income streams
This isn’t just prep for adulthood; teens are already making real financial decisions. Around age 15, many begin earning consistently through part-time jobs or side hustles. As their social circles expand, they need ways to manage money with peers, split costs, and build savings. Yet, most navigate this transition without access to tools built for their unique needs.
Building Safe Access First
At Cash App, we recognize that expanding financial access to teens comes with great responsibility. That’s why we’ve built our teen product with safety and protection as the foundation. Our approach combines sophisticated technology with human oversight:
- Smart controls for parents: Sponsors get real-time visibility into balances and transactions, customizable controls over features and contacts, instant alerts, and the ability to block, report, or approve activity before money moves
- AI-powered Protection: Advanced machine learning systems monitor activity 24/7 to detect, prevent, and alert potential risks
- Financial education: Both teens and parents receive guidance on safe money management practices
- Industry leadership: We report to the CyberTipline and law enforcement to set new standards for teen financial safety
Real Impact Through Real Access
Cash App's teen product goes beyond basic banking. Access to a broad suite of financial products helps teens build practical financial experience in a controlled environment. With sponsorship, teens aged 13-17 can:
- Send and receive money with other teens and verified adults
- Use a customizable debit card
- Build savings
- Start investing in stocks and bitcoin
- Manage direct deposits from jobs
- Deposit cash when needed
These tools set teens up for success for graduating to an individual, non-sponsored account when they turn 18.
Looking Ahead
In the next five years, Gen Z is expected to become the largest and wealthiest generation in history. Their spending growth is already outpacing every other age group. By providing safe, early access to financial tools, we’re helping prepare the next generation for financial success while setting new standards for teen financial safety.
We believe that access to financial tools must begin earlier and be designed specifically for teen use. Through our comprehensive approach to trust and safety, we’re working to create a future where every young person can participate in the digital economy safely and confidently.
Today’s teens are already active participants in the digital economy. They’re earning through neighborhood gigs, managing part-time jobs, and building businesses online. But despite their economic activity, most lack access to modern financial tools built for their needs. In a new white paper released today, we explore how Cash App is working to solve this challenge while setting new standards for teen financial safety. We believe that early access to financial tools — when paired with the right protections — can help build a more financially capable generation.
A Generation with Growing Financial Independence
The numbers tell a compelling story:
- 95% of U.S. teens already own a smartphone
- 93% of Gen Zs under 25 already use at least one mobile payment app
- 58% of teens are earning money, with 42% earning through digital channels
- Two in five teens earn through multiple income streams
This isn’t just prep for adulthood; teens are already making real financial decisions. Around age 15, many begin earning consistently through part-time jobs or side hustles. As their social circles expand, they need ways to manage money with peers, split costs, and build savings. Yet, most navigate this transition without access to tools built for their unique needs.
Building Safe Access First
At Cash App, we recognize that expanding financial access to teens comes with great responsibility. That’s why we’ve built our teen product with safety and protection as the foundation. Our approach combines sophisticated technology with human oversight:
- Smart controls for parents: Sponsors get real-time visibility into balances and transactions, customizable controls over features and contacts, instant alerts, and the ability to block, report, or approve activity before money moves
- AI-powered Protection: Advanced machine learning systems monitor activity 24/7 to detect, prevent, and alert potential risks
- Financial education: Both teens and parents receive guidance on safe money management practices
- Industry leadership: We report to the CyberTipline and law enforcement to set new standards for teen financial safety
Real Impact Through Real Access
Cash App's teen product goes beyond basic banking. Access to a broad suite of financial products helps teens build practical financial experience in a controlled environment. With sponsorship, teens aged 13-17 can:
- Send and receive money with other teens and verified adults
- Use a customizable debit card
- Build savings
- Start investing in stocks and bitcoin
- Manage direct deposits from jobs
- Deposit cash when needed
These tools set teens up for success for graduating to an individual, non-sponsored account when they turn 18.
Looking Ahead
In the next five years, Gen Z is expected to become the largest and wealthiest generation in history. Their spending growth is already outpacing every other age group. By providing safe, early access to financial tools, we’re helping prepare the next generation for financial success while setting new standards for teen financial safety.
We believe that access to financial tools must begin earlier and be designed specifically for teen use. Through our comprehensive approach to trust and safety, we’re working to create a future where every young person can participate in the digital economy safely and confidently.