Apple debuted a new Family Sharing feature during its WWDC keynote today. The feature allows family members who use the same credit card to also share a variety of other information, including iTunes purchases, photos and photo streams, location, reminders, calendars, and more.
One incredibly useful feature for parents included with this update is the ability to approve (or disapprove) purchases by minors. When a child in the family sharing account attempts to make a purchase, a notification will be sent to a parent asking them to approve the purchase. Parents will be able to review the item being purchased and decide whether or not to allow the charge.
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