Apple has released Apple Cash Family, as part of Apple's "family setup" for its watchOS 7, this week. This feature lets a parent securely load money onto a child's Apple Watch giving the child the ability to purchase items wherever Apple Pay is accepted, according to a Mac Rumors report.

Parents can view a child's spend activity, receive notifications of purchases, restrict access to Apple Cash balances and limit who money can be sent to through person-to-person payments. Apple Cash Family can be enabled for up to five family members.

Family setup requires a cellular Apple Watch model and an active carrier plan for the watch. The primary user can use the watch app on an ‌iPhone‌ to set up an Apple Cash, as well as additional features for older adults that includes a fall detection feature, automatic emergency calling and health features.