Prior to the 5th Century BC monetary value was largely based upon precious metals measured by weight, however the Greeks created utensil money counted by units in which shape and not the intrinsic content of precious metal was relevant.
The original meaning of the word novmisma is not that of “coin,” but that of “accepted standard” of value. “Novmo” is not to be taken as the counterpart of the Romanlex, but represents a peculiarly Greek con¬ception of what is accepted without compulsion as the standard of right in a given community. The idea of a society based on a system of socially established standards is a key to the understanding of Greek thoughts in the field of jurisprudence, political theory, and economic doctrine*.
Today the use of electronic money, its applications, regulation, political adoption and economic impact on the way consumers transact is changing the way money is “used” again.
The team at Novmo consult and innovate around these current changes.
* Credits - Livio Catullo Stecchini was a professor of ancient history at Paterson State Teachers College in New Jersey. He wrote on the history of science, ancient weights and measures, and the history of cartography in antiquity
Chairman of Novmo | Founder of WorldPay and Cashflows
A serial entrepreneur, Nick has consistently been at the forefront of innovation in financial service and Internet technologies.
1993, he founded Multi Media Investments Limited, a research and development company that brought the Internet to the Channel Islands. Europe’s first on-line store, the Wine Warehouse, followed in October 1994 and the establishment of the world’s first bank-endorsed e-commerce initiative, the electronic shopping mall, ‘BarclaySquare’, in 1995.
In 1997 Nick founded WorldPay, which was the first Internet payment service to guarantee transactions worldwide, and he led the company through its growth to over 270 employees, 20,000 customers in 120 countries and e-commerce transactions in excess of $2bn per annum. WorldPay was acquired by The Royal Bank of Scotland in 2002.
In 2003 Nick, formed the Voice Commerce Group to develop mobile payment systems and created VoicePay enabling individuals to identify themselves and sign transactions using their voice as a signature.
Voice Commerce became the UK’s first non bank Payments Institution in 2009. The company is a principal issuing and acquiring member of Visa and MasterCard, a member of SWIFT, a full member of the UK Payments Council, an agency Bank of HSBC and holds SEPA membership. The Group rebranded as Cashflows in 2012 after securing CASH GB 2L as its IBAN.
In 2014 Nick founded NOVMO, an innovation foundation. Novmo does not however stand for Nick Ogden’s Virtual Money Organisation.
Nick has been recognized by a number of industry awards including the UK Ernst and Young Entrepreneur of the Year Award, the Computer World Global IT Leaders award, the ID People Awards 2009, the National Business Awards UK where he was awarded UK Entrepreneur of the Year 2010-2011. Nick is Fellow of the Royal Society of the Arts and an Honorary Certified International Cards and Payments Professional.