The inaugural bill stamps of Mauritius were issued on March 28, 1869. These stamps were locally lithographed and lacked perforation. They came in a range of values from 1d to 16s8d, available in various colors. These stamps were produced in triplets, each set marked as “First,” “Second,” or “Third of Exchange,” intended for use on triplicate documents. Later in the same year, a new series featuring Queen Victoria was introduced, also in triplets. Stamps bearing this design, with alterations in color and currency, remained in use until 1903.

In 1904, a new stamp type emerged, resembling the design utilized for high-value postage stamps but featuring a blank value space and colored green. These stamps were subsequently overprinted with “BILLS ONLY FIRST” (or “SECOND” or “THIRD”) OF EXCHANGE, along with their respective values. Two slightly different formats of these overprints exist.

Bill of exchange postage stamps are primarily used for revenue collection by government authorities. When individuals or businesses engage in financial transactions that involve bills of exchange, they are required to affix revenue stamps to these documents as evidence of tax payment.