Pengertian Sistem Pembayaran

The payment system is related to the transfer of a certain amount of money from one
party to another, such as when making a transfer at a bank. The tools used in the payment
system can be cash or non-cash. In the cash payment system, the instruments used are
currency, namely banknotes and coins. Meanwhile, in the non-cash payment system, the
instruments used are demand deposits, including credit cards, debit cards, checks, giro bills,
debit notes and electronic money. The authority to regulate and maintain the smooth running
of the payment system in Indonesia is carried out by Bank Indonesia (BI) as the central
bank.

In carrying out its duties to regulate and maintain the smooth running of the payment
system in Indonesia, BI is guided by four payment system policy principles, namely security,
efficiency, equality of access and consumer protection.
1. Safe, meaning that all risks in the payment system must be managed and minimized by
the payment system operator.
2. Efficiency, which emphasizes that, in a payment system, the costs incurred must be
cheaper for society.
3. Equality of access, meaning the absence of monopolistic practices in the implementation
of a system that could prevent other parties from participating.
4. Protection of consumers is a fundamental obligation of all payment system operators.

The smooth running of the payment system cannot be separated from maintaining the
amount of cash circulating in society so that inflation or deflation does not occur. Apart from
that, money must also be in a condition suitable for circulation or what is usually called a
clean money policy.

The components that build a payment system consist of Regulators, Organizers,

Infrastructure, Instruments and Users.
1. Regulator, has the authority to establish rules, regulations and policies that bind all
components of the payment system.
2. Organizer, is an institution that ensures the final settlement of all transactions that occur.
3. Infrastructure is the physical facilities that support payment system operations.
4. Instruments are means of payment, both cash and non-cash, agreed upon by users when
carrying out transactions.
5. Users are consumers who utilize the payment system.

Peran Bank Indonesia dalam Sistem Pembayaran

In UU No. 23 of 1999 concerning Bank Indonesia, it is stated that the aim of Bank
Indonesia is to achieve and maintain stability in the value of the rupiah. To achieve this goal,
Bank Indonesia carries out the following tasks:
a) establish and implement monetary policy
b) organize and maintain the smooth running of the payment system
c) regulate and supervise banks

In accordance with its duties to regulate and maintain the smooth running of the payment
system or commonly known as the National Payment System/Sistem Pembayaran Nasional
(SPN), the smooth running of the system needs to be supported by reliable infrastructure.
 BI, which has monetary authority, has the right to determine and enforce payment system
policies nationally. Apart from that, BI also has the authority to provide approval and permits,
as well as supervise the payment systems carried out by organizers. Realizing the
importance of a smooth payment system, Bank Indonesia created an interbank system
through the BI-Real Time Gross Settlement (BI-RTGS) infrastructure.

BI has a role as organizer of the interbank clearing system for certain types of payment
instruments and is the only institution that has the right to issue and circulate cash payment
instruments such as rupiah. BI also has the right to revoke, withdraw or destroy invalid
rupiah currency from circulation.
Thus, it can be concluded that Bank Indonesia's role in the payment system includes:
1. Establish and enforce national payment system policies.
2. Has the authority to provide approval and permits and supervise the payment system
carried out by the organizers.
3. Operator of the interbank clearing system.
4. Issuing and circulating cash payment instruments.
5. Revoking, withdrawing, and even destroying invalid rupiah currency from circulation.

Jenis-Jenis Alat Pembayaran Non-Tunai

Bank Indonesia, apart from having the authority to grant operational permits to parties
carrying out activities in the field of payment systems, is also tasked with supervising the
operation of payment systems (both carried out by Bank Indonesia and other parties outside
Bank Indonesia).

Based on the payment flow, payment instruments can be grouped into credit transfers and
debit transfers. What is meant by credit transfer is an order to place funds from the sender to
the recipient via a transfer route or from the sending bank to the recipient's bank via another
bank as an intermediary.

The debit transfer is a transfer system where a debit transfer order is made or authorized
by the party who owns the funds so that funds can be sent (payer) to another party (payee).
The transfer order is then conveyed to the party who will receive the funds (payee) to be
disbursed at the bank. Next, the bank clears the debit transfer order at the clearing institution
(Bank Indonesia) to reduce the payer's funds.

There are three forms of non-cash payment media that are commonly used. These three
forms are as follows:
1. Paper-based payment media, for example checks or payment orders that can be written
by hand or typewriter (credit notes and debit notes).
2. Electronic payment media, namely interbank instructions without dependence on
processing or sending paper. For example, transfers via the Real Time Gross Settlement
System (RTGS) and the Bank Indonesia National Clearing System (SKNBI).
3. Card-based and paper-based payments, namely card-based payments used for consumer
payments for sales transactions. For example, ATM cards, credit cards, debit cards.
Meanwhile, examples of paper-based payments are checks and giro bills.

Pengertian Uang
 Money is an object with a certain unit of account that can be used as a legal means of
payment in various transactions and is valid in a certain region of the country. It can be
concluded that money is anything that can be generally accepted as a means of payment for
goods and services, as well as payment of debts (means of exchange).

a. Original Function or Primary Function

• Medium of exchange, namely as a tool for exchange and overcoming difficulties in
exchange in kind (barter). The money you have can be exchanged for desired goods
according to a certain nominal amount.
• Unit of account, namely to determine the value of a good or service, and determine the
price. By using money, every object and service can be calculated and measured in units of
value.

b. Derivative Function or Secondary Function

• Means of payment, namely for making payments for various transactions, for example
paying taxes, fees, and so on.
• Debt payment (standard of deferred payment), namely to make and determine debt
payments.
• Accumulating wealth, meaning money can be saved in advance, which will make it easier
to exchange in the future.
• Tools for capital formation and capital transfer (transfer of value), namely investment tools
and for increasing or enlarging business capital, either for your own use or loaned to other
people who need the capital.
• Price measurement or standard of value, namely determining the price of goods or services
produced by a company.

The value of money consists of:

1. Nominal value is the value or number stated or printed in a currency.
2. Intrinsic value, namely the physical value contained in a currency or the value of the
materials from which the money is made.
3. Internal value, namely the value measured by the ability of money to be exchanged for
goods (purchasing power of money).
4. External value, namely the value of a currency as measured by the currency of another
country.

According to its value, money is divided into full bodied money and token money. It is said
to be full money if the value stated on the money is the same as the material used (the
nominal value is the same as the intrinsic value). Meanwhile, what is meant by token money
is if the value printed on the money is higher than the value of the material the money is
made from (the nominal value is greater than the intrinsic value).

Based on type, money is divided into currency and demand deposits. Currency is cash as
a means of payment used by the public in daily buying and selling transactions, in the form
of paper money and metal issued by the central bank (BI). Meanwhile, demand deposits are
funds deposited or stored in a bank which can be used by the owner at any time by check,
giro bill and telegraphic transfer.
 Having cash is a daily necessity so according to J.M Keynes there are three motives
(reasons) for people to hold money:
1. The transaction motive is for daily purchase transactions.
2. Precautionary motive, namely to finance unexpected things or meet urgent needs.
3. The speculative motive aims to gain profits in the future.