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Venmo is targeting Gen Z with the introduction of teen accounts. 

May 24 2023

Venmo is targeting Gen Z with the introduction of teen accounts. The fintech brand’s new feature allows parents to open a Venmo account for their teen children so they can send and receive money. The accounts are connected to and managed by a parent’s personal Venmo, but the teen account has a separate balance and comes with a debit card, giving young Zs the freedom to spend. YPulse’s Fintech research shows that Gen Z by far prefers to manage their finances via apps on their phone / tablet. As this gen reaches financial maturity, they’ll be looking to manage their finances through mobile banking platforms that are personalized to them—and there are several already dedicated to filling this niche. (Tech Crunch)