Methods and servers are provided for processing payment using a generic gift card. The generic gift card is usable for payment across one or more participating merchants. One of the methods is performed at a server that administers usage of the generic gift card, the method comprises generating a unique code for identifying the generic gift card against which payment will be deducted for purchases made at a selected participating merchant; transmitting the unique code to the selected participating merchant; and calculating and subtracting the purchases made from a balance of the generic gift card in response to receiving from the selected participating merchant an indication of use of the unique code at the selected participating merchant.