OnePay launches new teen banking and credit-building platform

OnePay, a fintech company backed by Walmart, has officially rolled out a new teen account designed to provide a comprehensive financial foundation. The platform allows teenagers to save, spend, invest, and earn rewards, while offering parents oversight of their children's activities.

Key features of the OnePay account include credit-building tools and savings options with an APY of up to 3.35%. The service aims to eliminate monthly subscription fees and provides a seamless transition for users to move into adult accounts upon turning 18. This launch joins a growing market of teen-focused financial applications, including competitors such as Greenlight, Step, Cash App, and Chase.