The new service is the result of a strategic alliance with InterTrust
Technologies Corp. of Sunnyvale, Calif.,
announced in September last year.
Various digital content can be sold using the Magex
system. It wraps the content in a DigiBox container for
protection, allowing customers to examine it but not steal
it. It also manages the flow of money from the consumer
to the content provider.
NatWest is the first UK bank to address the core issues
of enabling online content to be sold over the Internet,
and appears set to reap the rewards.
According to NatWest,
three global suppliers of business information will be
among the first to offer content using the service, while
music and software publishers will follow shortly.
Magex will use NatWest’s own micropayment system, with
customers paying for content in U.S. dollars rather sterling.
To use it, customers must register and download the
necessary software. To charge up the PC-based Wallet,
customers will use Visa or MasterCard to bring their account
to at least a minimum level before making purchases.