Venmo Lowers Age Requirement, Allowing Younger Teens to Use App

PayPal Holdings Inc. is lowering the age requirement for its popular person-to-person payments app Venmo, allowing parents of children between the ages of 13 and 17 to sign them up for a teen account.

Parents will be able to monitor transactions and manage their children’s privacy settings, according to a statement Monday. Venmo was previously only available to those 18 and older.

“Venmo is a natural place for teens to learn how to engage with money responsibly,” Erika Sanchez, vice president and general manager of Venmo, said in a statement.

Venmo joins a bevy of apps and services that have ...