Kwedit

Kwedit refers to a now-defunct mobile payment and micro-lending service targeted primarily at users in emerging markets, particularly in Africa. The service aimed to provide access to small loans and enable users to make mobile payments for goods and services, even with limited or no traditional banking infrastructure.

Kwedit operated by assigning users a credit score based on their mobile phone usage and airtime purchase history. This allowed them to qualify for small, short-term loans that could be used to purchase airtime or make payments to participating merchants. Users repaid these loans with future airtime purchases, effectively leveraging prepaid mobile credit as a form of currency and credit history.

The company behind Kwedit, also named Kwedit, was founded with the goal of expanding financial inclusion in regions where traditional banking services are scarce or inaccessible. While the specific reasons for the service's discontinuation are not publicly available, similar mobile payment and micro-lending models continue to evolve in various forms across developing nations. The service aimed to address the needs of a large, unbanked population by leveraging the widespread adoption of mobile phones.