Kwedit!

[Bells]

Kwedit is a new, innovative way to purchase digital content and virtual goods safely, easily, and quickly without a credit or debit card.

Kwedit is not credit. We are not a lender, we don't charge interest and we are not a financial institution. Our service is for people who don't have a credit or debit card or who prefer to pay with cash for budgeting, privacy or security reasons.

Kwedit Promise is not for children. It is a service for adults and teens, 13 and older.

Kwedit provides two services: Kwedit Direct and Kwedit Promise.

Kwedit Direct allows you to make payments at a local store such as a 7-Eleven, by mailing cash, or by asking a friend or relative to pay on your behalf using a convenient service called Pass the Duck -- the world’s first social payment network. Friends and relatives who agree to pay on your behalf via Pass the Duck can use any of the methods provided by Kwedit Direct, or they can pay with a credit or debit card.

Kwedit Promise is an amazing new way to get goods now in exchange for Promises to pay for them later. When you’re ready to pay back your Promises, you can use any of the methods provided by Kwedit Direct.

And what can you use Kwedit for?

To purchase goods on exciting venues like Facebook apps or Online games aimed at children like Foopets ( Virtual Puppies ) or Puzzle Pirates or Tetris Friends!

But i think the best explanation comes from one Mr Colbert Himself:

http://www.colbertnation.com/the-col...word---kid-owe

http://kwedit.com

...this can't end well.


EDIT:

I forgot this little Golden Nugget

What happens if I don't pay back a Kwedit Promise?

If you make a Kwedit Promise but do not pay it off, Kwedit notifies the publisher that a payment was not received and the publisher decides on the appropriate action. At a minimum, you may not be able to make further Promises to that publisher. In addition, your Kwedit Score will decrease, and that may impact your ability to use Kwedit in the future with other publishers.

[Amake]

If I was an evil person, I'd be tempted to hurry up and buy stuff for the maximum allowance before they have sorted out how to make people actually pay for it.

[Donomni]

I wouldn't be surprised if this whole thing imploded by the end of the month.

[Ibian]

I... think, that this will stick around. Think about it, adults are already, as the funny guy in the vid said, spending money they don't have on things they don't need. And contrary to what a lot of people seem to want to believe, kids do what they see their parents do, not what their parents tell them to do.

I always pay in cash when i can get away with it. Makes it much harder to overspend.

[Revising Ocelot]

"Kwedit"? Sounds a little too much like Elmer Fudd to me...

[bluestarultor]

This is nothing short of irresponsible and possibly not even legal. I don't think kids can actually be held to a contract, but there's likely some legal clause built in to screw the parents. I see this eventually going to court, but I don't even want to think about the proceedings or result. Hopefully, Kwedit loses the case.

[Tev]

I foresee entire Chinese villages buying up hordes of virtual things using Kwedit and then selling them for real money to Americans. Then not paying back their debt. That way once things get sorted out, they have the money and someone else gets shafted when the publisher deletes the item for non-payment.

[Geminex]

I only just realized that "Kwedit" is the cutesy-baby pronunciation of "Credit".

Fuck this service.

[Loyal]

Do we seriously need a harder depression at this point in time?

And holy shit what is with that FooPets thing.

[Donomni]

Originally Posted by Geminex

I only just realized that "Kwedit" is the cutesy-baby pronunciation of "Credit".

Fuck this service.

Considering they have a duck as a mascot, they should've went with Quedit.