This collaboration empowers kids in the U.S. to learn how to spend responsibly while giving parents peace of mind in the digital-first economy

IRVINE, Calif. and NEW YORK, Aug. 7, 2024 /PRNewswire/ -- Today, GoHenry by Acorns, a debit card and financial education app designed for 6-18 year olds, has announced a collaboration with Google Wallet to integrate GoHenry into the new Fitbit Ace LTE smartwatch for kids in the U.S. The collaboration advances Google's Tap to Pay capabilities in its Fitbit Ace LTE devices and enables kids under 13 years old to use a smartwatch to spend their own money safely and responsibly in the digital world. GoHenry will be featured as a card issuer within the device wallet, making it easy for parents to empower their kids with the independence that a wearable payment device can offer.

Designed for kids ages 7-12, the Fitbit Ace LTE smartwatch and Fitbit Ace Pass1 provides the benefits of a smartphone—such as a digital wallet, daily rewards for reaching movement goals, and secure calling, messaging and location sharing—without the smartphone.2 Combining the device's secure Tap to Pay feature and GoHenry's offerings, parents can have peace of mind as they help kids learn how to manage money.

How it works:

1. A parent downloads the GoHenry by Acorns app, signs up, and activates their child's new GoHenry debit card.
2. A parent activates Tap to Pay on the Fitbit Ace LTE by adding their child's GoHenry card to Google Wallet through the Fitbit Ace app3.
3. Once connected, a parent can seamlessly use the GoHenry by Acorns app to add money to the debit card, set spending limits, decide where the card can be used, and more.
4. The child can then use the Fitbit Ace LTE to Tap to Pay with the money on their GoHenry card—and grow their money management skills with GoHenry along the way.

"GoHenry empowers kids growing up in a digital world to learn about and use money in a safe environment," said Acorn's CEO, Noah Kerner. "Our collaboration with Google Wallet brings this to life on a wearable payment device, embodying our mission to make every kid smart with money and providing parents with more tools to nurture healthy habits in their kids."

With GoHenry, parents can set up automated allowance, make instant transfers, select spending limits, and set chores for kids to earn through the app. Kids and teens can set savings goals, keep an eye on their budgets in real-time, and give spare change to charity while learning core money skills through Money Missions—in-app, expert-led, bite-sized lessons, interactive quizzes, and videos.

"We're excited to collaborate with GoHenry to bring tap to pay capabilities to the Fitbit Ace LTE, giving parents a valuable tool to instill responsible spending habits and help kids gain confidence while they learn important money skills," said Ben Greenwood, Fitbit Ace LTE Product Lead.

As an incentive, parents who sign their child up for GoHenry beginning August 7 will receive $20 toward their child's allowance for free, along with one free month of a GoHenry subscription.

This collaboration comes on the heels of Acorns' acquisition of GoHenry—now called GoHenry by Acorns, in the U.S.---in 2023. The acquisition advanced Acorns' commitment to deliver financial wellness for the whole family—providing kids and adults alike with the responsible tools of money management and financial education. Acorns is a leading saving and investing app that makes it easy for everyday people, across life's many stages, to save and invest for their future. Through Acorns, customers have invested over $20,000,000,000, much of it in spare change. UK-founded GoHenry is a global leader in money management and financial education for 6-18-year-olds with a mission to make every kid smart with money. Together, Acorns, GoHenry and Pixpay serve nearly 6 million subscribers across five countries.

FOR MEDIA: High-res Images Available HERE.

About GoHenry by Acorns
Launched in 2012, GoHenry is a financial technology company with a simple mission to make every kid smart with money. The GoHenry debit card and financial education app is designed for kids aged 6 - 18. Parent and child apps provide tools to help kids learn about money— by earning, saving, spending responsibly, giving, and more, all with parental oversight. In-app Money Missions offer a gamified, integrated financial education experience that provides a rewarding and fun way for kids to build financial literacy.

In 2023, GoHenry teamed up with Acorns to deliver financial wellness to the whole family. For more information, visit GoHenry.com or follow @gohenry on Twitter, LinkedIn, and Instagram.

In the U.S. the GoHenry card is issued by Community Federal Savings Bank, member FDIC, pursuant to license by Mastercard International.

Press Contact: [email protected]

1 Fitbit Ace Pass is a paid data plan that is required to access most features.
2 Calling, messaging, and location sharing are dependent upon network connectivity and other factors and may not be reliable for emergency communications or available in all areas. Ace Pass data plan required. Airplane mode disables calling, messaging and location sharing. Device is not capable of calling emergency services, another Fitbit Ace LTE device, or a phone without the Fitbit Ace app installed. Location sharing is available only for users with a supervised Google Account.
3 Fitbit Ace app works with most phones running Android 11.0 or newer or iOS 15 or newer.

SOURCE Acorns