Paul McCartney Invests in Online Music Payment System

Ex-Beatles Sir Paul McCartney has pumped an undisclosed sum into London-based online payment system supplier Magex. The investment comes in the same week that Universal is set to begin a trial digital music download service which uses Magex technology.

Magex is a secure online payment service spun off from the UK’s National Westminster bank. Digital content bought via Magex is billed to the buyer’s credit card by Magex itself. Magex also handles the copyright protection side of the equation using InterTrust’s encryption and access rights management technology.

Yesterday, the company announced the appointment of ex-Columbia Tristar Picture home video unit president W. Patrick Campbell as its new CEO. The company will make a push in U.S.

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