Clearing house for processing of payments using coded payment methods

A computer program product for processing readable indicia for payment codes, the computer program product comprising at least one non-transitory computer-readable medium having computer-readable program code portions embodied therein, the computer-readable program code portions comprising:

• an executable portion configured for receiving information associated with one or more vendors, wherein the one or more vendors supply or originate readable indicia;
• an executable portion configured for retrieving available readable indicia associated with each of the one or more vendors;
• an executable portion configured for storing the available readable indicia associated with each of the one or more vendors, information about the vendor, and data associated with the available readable indicia such that a vendor associated with each of the available readable indicia is identifiable based on a partial reading of the available readable indicia;
• an executable portion configured for receiving an indication of a transaction between a user and a merchant, wherein the transaction is to be completed using readable indicia at a point-of-transaction (POT) of the merchant;
• an executable portion configured for matching the readable indicia used for the transaction with one or more vendors associated with the readable indicia used for the transaction, wherein matching comprises accessing the stored available readable indicia associated with each of the one or more vendors and matching the available readable indicia to the readable indicia used for the transaction;
• an executable portion configured for determining the vendor associated with the readable indicia used for the transaction;
• and
• an executable portion configured for allowing for processing of the transaction using the readable indicia used for the transaction, such that the vendor associated with the readable indicia used for the transaction authorized the transaction.

A computer-implemented method for processing readable indicia for payment codes, the method comprising:

• receiving information associated with one or more vendors, wherein the one or more vendors supply or originate readable indicia;
• retrieving available readable indicia associated with each of the one or more vendors;
• storing the available readable indicia associated with each of the one or more vendors, information about the vendor, and data associated with the available readable indicia such that a vendor associated with each of the available readable indicia is identifiable based on a partial reading of the available readable indicia;
• receiving an indication of a transaction between a user and a merchant, wherein the transaction is to be completed using readable indicia at a point-of-transaction (POT) of the merchant;
• matching, via a computer device processor, the readable indicia used for the transaction with one or more vendors associated with the readable indicia used for the transaction, wherein matching comprises accessing the stored available readable indicia associated with each of the one or more vendors and matching the available readable indicia to the readable indicia used for the transaction;
• determining the vendor associated with the readable indicia used for the transaction;
• and
• allowing for processing of the transaction using the readable indicia used for the transaction, such that the vendor associated with the readable indicia used for the transaction authorized the transaction.