Iconoculture: Teens love to buy virtual goods from videogames, but if they don’t have access to Mom’s plastic, they’re often out of luck. That could change dramatically, now that Kwedit has launched. It’s a sophisticated honor system that allows anyone over age 13 to buy virtual goods with a promise to pay later. How will they pay later? By taking cash to any IRL Kwedit partner, such as 7-Eleven.
And if they don’t cough up the dough? It’ll reflect poorly on their Kwedit Score, which is similar to other commonly used credit scores, but dedicated to the Kwedit payment system. Lower Kwedit scores due to a poor payment history will make less Kwedit available.
Play now, pay later: Kwedit is a unique new honor system for buying virtual goods [Iconoculture]