ALAT PEMBAYARAN - UANG

Introduction to Central Banking and Payment Systems

Overview of the Lesson

• The speaker, Dewi Nur, introduces the lesson on central banking, payment systems, and means of payment in Indonesia.

• The objective is to describe the role of central banks and payment systems within the Indonesian economy.

Types of Payment Instruments

• Payment instruments are categorized into two types: cash (money) and non-cash payments.

• The discussion begins with cash payments, specifically focusing on the history of money starting from barter systems.

The Evolution of Money

Barter System

• Barter involved direct exchange of goods but faced challenges such as finding matching needs between parties.

Emergence of Commodity Money

• Commodity money emerged as a solution; it consists of items widely accepted for trade (e.g., shells, tobacco).

• However, commodity money had limitations like storage difficulties and lack of durability.

Introduction of Metal Coins

• Metal coins were introduced due to their high value and durability (e.g., gold, silver).

• Despite their advantages, metal coins also posed issues regarding transportability in large quantities.

Modern Forms of Money

Paper Money Development

• Paper money gained acceptance based on public trust in issuing institutions.

Giral Money

• Giral money emerged as a practical alternative for transactions in complex economies. It simplifies exchanges without physical currency.

Legal Definition and Characteristics of Money

Legal Framework

• According to Law No. 7/2011 on currency, valid money must meet specific criteria:

• Acceptability: Widely liked and accepted.

• Durability: Long-lasting without easy damage.

• Stability: Maintains value over time.

• Portability: Easy to carry or transfer.

• Divisibility: Can be divided without losing value.

• Uniformity: Consistent quality across units.

• Scarcity: Limited supply that prevents counterfeiting.

Functions and Types of Money

Primary Functions

• The primary function is as a medium of exchange facilitating trade by eliminating barter's limitations.

Additional Functions

• Unit of account for pricing goods/services comparison.

• Storehouse for wealth through savings accounts.

• Capital formation tool supporting business activities.

Types Based on Issuing Institutions

• Currency (Kartal): Everyday cash used for transactions (paper & coins).

• Giral Money: Bank deposits accessible via checks or electronic transfers.

Value-Based Classification

Full Bodied vs Representative Money

• Full bodied money has intrinsic value equal to its nominal value while representative money does not hold equivalent intrinsic worth.

Understanding Full Bodied Money and Its Management

Types of Money

• Full Bodied Money: This type of currency has intrinsic value equal to its nominal value, typically seen in coins where the material cost matches the face value.

• Representative Full Bodied Money (Token Money): This refers to money that has a lower intrinsic value than its nominal value, meaning the materials used are less valuable than what is printed on it.

Management of Rupiah by Bank Indonesia

• Planning Stage: The management process begins with planning and determining how much Rupiah will be printed, coordinated with government assumptions about inflation and economic growth.

• Printing Stage: Bank Indonesia oversees the printing of Rupiah, designating state-owned enterprises for this task while ensuring quality and competitive pricing.

• Distribution Stage: The distribution of Rupiah is managed by Bank Indonesia based on circulation needs; they also determine serial numbers for banknotes.

• Withdrawal Stage: Withdrawal from circulation involves replacing old notes with new ones at their nominal value as determined by Bank Indonesia.

• Destruction Stage: Unfit or unpopular notes are destroyed in coordination with the government, ensuring only valid currency remains in circulation.

Security Features of Rupiah

• Material Composition: Rupiah paper is made from cotton fiber, making it durable against wear and tear.

• Watermark & Electrotype: These features enhance security; watermarks are visible when held up to light.

• Intaglio Printing: Certain areas feel rough to touch due to this printing method which adds texture for authenticity verification.

Exploring Non-Cash Payment Methods

Types of Non-Cash Payments

• Checks and Giro Bills: A check serves as an unconditional order to pay a specified amount. In contrast, a giro bill instructs banks to transfer funds between accounts.

• Electronic Money (e-money): This form requires users to deposit money into an electronic medium before transactions can occur, emphasizing prepayment before spending.

Card-Based Payment Systems

• Debit Cards & ATMs: Debit cards allow direct payment from bank accounts while ATM cards facilitate cash withdrawals or fund transfers instantly reducing account balances accordingly.

• Credit Cards: These enable purchases on credit with a "buy now, pay later" principle where issuers cover initial costs until repayment occurs later.

Conclusion

The discussion provides insights into both cash and non-cash payment systems within Indonesia's economy. Understanding these mechanisms is crucial for navigating financial transactions effectively.