System And Method For Validating A Relationship Between A User And A User Account At A Financial Institution

A method of establishing a trusted relationship for performing financial transactions with a financial institution, comprising:

• storing user profile data in a memory of a payment system, the user profile data relating to an account of a user with the payment system;
• storing financial account information in the memory of the payment system in association with the user profile data, the financial account information relating to a user account maintained at a financial institution;
• receiving a user initiated financial transaction request at the payment system that identifies the user account at the financial institution, wherein the financial transaction request is received over a network from a financial institution and includes verification information for verifying a relationship between the user and the user account at the financial institution;
• completing the financial transaction request based at least in part on the verification information;
• and
• completing one or more subsequent user initiated transaction requests involving the user account at the financial institution, wherein the one or more subsequent user initiated transaction requests do not require verification information.

A payment service system for making payments from a payment service account associated with a user, comprising:

• a communication device;
• a memory;
• a processor coupled with the memory and communication device;
• and
• an account validation module executable by the processor and configured to:
• store user profile data in the memory that relates to the payment service account;
• generate a verification identifier, wherein a first copy of the verification identifier is provided to the user, and wherein a second copy of the verification identifier is stored in the memory;
• receive a transaction request that identifies the payment service account and that includes the first copy of the verification identifier, wherein the transaction request is received over a network from a second system, and wherein the first copy of the verification identifier is supplied to the second system by the user for inclusion in the transaction request;
• match the received first copy of the verification identifier with the stored second copy of the verification identifier;
• and
• store verification information in the memory in association with the user profile data based on a successful match between the received first copy of the verification identifier and the stored second copy of the verification identifier;
• the payment service system being configured to complete subsequent transaction requests from the second system relating to the payment service account of the user, wherein the subsequent transaction requests do not require a copy of the verification identifier.

A payment service system for making payments from a payment service account associated with a user, comprising:

• a communication device;
• a memory;
• a processor coupled with the memory and communication device;
• and
• an account validation module executable by the processor and configured to:
• store user profile data in the memory, the user profile data relating to the payment service account;
• store financial account information in the memory in association with the user profile data, the financial account information relating to a user account maintained at a financial institution;
• and
• receive a user initiated financial transaction request that identifies the user account at the financial institution, wherein the financial transaction request is received over a network from a financial institution and includes verification information for verifying a relationship between the user and the user account at the financial institution;
• the payment service system being configured to complete the financial transaction request based at least in part on the verification information;
• and
• the payment service system being further configured to complete one or more subsequent user initiated transaction requests involving the user account at the financial institution, wherein the one or more subsequent user initiated transaction requests do not require verification information.