OREANDA-NEWS. July 03, 2014. "ELSOM" - is a product at the junction of IT and banking. Through "ELSOM" you can purchase, send and receive money, recharge, as well as carry out other financial transactions using just a mobile phone. And soon it will be possible to use a mobile phone instead of a credit card and in retail stores.

E-Wallet "ELSOM" - is a virtual account number submitted by the mobile device, allowing to make payments, invest, transfer and cash money electronically. It has the functions of the bank account, but offers a more convenient and easy way to make financial transactions. Our customers are able to transact in any place and at any time, on condition to the availability of the mobile network. E-Wallet essentially the same as banking card but only in the mobile phone.

"ELSOM" has been developed over the last three years - says the chairman of KICB Kwang-Young Choi. "- In creating this innovative product has been invested significant funds, as well as embedded hard work a team of specialists. Our main goal was to make "ELSOM" easy to use, but at the same time ensure the security of the system and to comply with relevant legislation.

Currently, "ELSOM" covers Bishkek and Osh. But soon will acquire mobile wallets and residents of other regions."

"We will expand agency network and infrastructure, "ELSOM" to cover all regions. By the end of 2018 "ELSOM" network will be completely built and cover all corners of Kyrgyzstan. Shareholders of KICB aim to ensure that our bank has contributed to the economic development of Kyrgyzstan, providing innovative and actually favored citizens with banking services. One of them, of course, "ELSOM" - said Mr. Choi.

IT-platform of electronic wallet offered by one of the world's leading providers of payment solutions. This system has been successfully tested in the world.

"We bought it, adapted and integrated with the one that operates in our bank. It completely eliminates any leakage of information and the human factor. Electronic purse is very convenient. When you open an account, the bank holds your cash in the Bank and thru the "ELSOM" you will have an electronic money. You can refill you mobile wallet at any payment terminal or sub-branch and for it you does not necessarily need to have a bank account. Also you always have the option to cash out the electronic money", - said the head of KICB.

Until July 15, "ELSOM" works absolutely for free. Then there will be charged a fee, but it is very small, only for deposits and withdrawals from the purse. Other services (payment of utility bills, recharge of phone balance, transfer of money, etc.) will be free. Thus everybody can afford "ELSOM", because this product is aimed at mass users.