Lootlock Launches to Help Parents Control Kids’ Gaming Expenses

A new app called Lootlock has entered the gaming scene with a mission to help parents manage their children’s in-game spending. Designed to prevent surprise charges and unauthorized purchases, Lootlock offers a suite of tools that combine financial oversight with behavioral learning.
At its core, Lootlock allows parents to set monthly budgets for each child, either across all games or tailored to specific titles. The app introduces features like auto-allowance, where children receive a set amount based on age and maturity, encouraging responsible spending habits. Parents can also assign “bounties”—real-world tasks that kids complete to earn in-game currency or rewards, turning chores into gamified incentives.
Lootlock goes beyond simple spending limits. It provides detailed analytics, showing how children’s gaming expenses compare to peers, and offers real-time transaction tracking. The app integrates with Visa’s open banking system for secure wallet funding, ensuring parents maintain control while giving kids a taste of financial independence.
Founded by fintech developer and gamer Nick Pompa, Lootlock was inspired by his own parenting experience and stories from fellow parents overwhelmed by unexpected gaming charges. The app was recently selected for TechCrunch Disrupt’s Startup Battlefield 200, highlighting its relevance in today’s gaming economy where microtransactions dominate.
With the rise of digital purchases and gamified spending, Lootlock positions itself as a modern solution for families navigating the evolving landscape of online gaming.