History of Money: The Usage and Transaction History in Indonesia

Jakarta, 07/04 - Money as a main payment tool in Indonesia has been set as a state symbol. In that matter, the usage must be appropriate and unable to be used arbitrarily. Before the Rupiah, state official currency, Indonesia had 4 currencies that were valid to be used for transactions.

Based on notes from Ministry of Finance, excluded the currency in the kingdom era, 4 currencies that valid in Indonesia in the beginning of independence era were the residual currencies from the colonial period of Netherland and Japan, which is De Javasche Bank, De Japansche Regeering, Dai Nippoon Emisi, and Dai Nippor Teikoku Seibu. As of 1946 Indonesia started printing its very own currency, called ORI (Oeang Republik Indonesia). 

Military aggression to Indonesia in the post-independence era caused ORI difficulty to be circulated and its intrinsic value decreasing. Because of it, President Soekarno ordered the publishing of ORIDA (Oeang Republik Indonesia Daerah), so every region in Indonesia such as Java and Sumatera has their own currency. 

By 1953 Indonesia had a new official currency called Rupiah (Rp), after the establishment of Bank of Indonesia (BI), formerly named De Javasche Bank. BI had an authority to publish money in denomination Rp 5, meanwhile money with denomination below Rp 5 was authorized by the Indonesian Government. As per 1968, fully assign BI as the only institution who have authority to publish official money in Indonesia. 

As of today, Rupiah has physically developed to adjust with current development. In 2015, financial transaction trends started turning into digital methods. Transactions through digital wallet, payment gateway, to digital banking continue spreading and became more favored by the society because of its ease. 

On those facts, BI facilitated the trend by developing the new authorization of digital transaction methods. The usage of digital money was also to answer the people's needs of a more simple and safer transaction.

Yokke as payment service provider also contributed in presenting a system that was able to support a secure and reliable transaction. Through an EDC machine with various features, Yokke is able to help the transaction needs such as debit card, credit card, and QR code.

Other features such as foreign currency transactions also can be processed through Yokke services. For more information, call 24/7 HiYokke services at 1500236, email hiyokke@yokke.co.id, and WhatsApp +62 81140-14021. For Bank Mandiri customers, please contact Mandiri merchant services at 14021 and WhatsApp +62 81140-14021.