Valve has announced the discontinuation of physical Steam Gift Cards available through retailers. This decision comes as the company states that scammers have continuously adapted to security measures implemented on the cards. While physical gift cards are being phased out, Valve will continue to offer Steam Digital Gift Cards through its official store. The company expects current retail stock to be depleted by the end of 2026.
Introduced to retail stores in 2012, Steam Gift Cards were later supplemented by a digital program in 2017. Valve noted in an update to its Steam Gift Cards FAQ that gift cards from major brands, including Steam, are unfortunately exploited by scammers globally to defraud individuals. Valve detailed various protective measures it has implemented over the years. These included collaborations with retailers and law enforcement, modifications to the cards to emphasize scam warnings, limiting card availability, and removing cards from sale in specific stores during periods of unusual sales spikes. Additionally, a change was made to prevent gift cards from being redeemed in a currency different from that of the user's Steam Wallet, an effort to hinder international scam operations.
Despite these efforts, Valve stated that "scammers have adapted" and continue to impact Steam customers and others. This led to the "difficult decision to end the Steam Gift Card program at retail stores." The cessation of physical gift cards means that opportunities for consumers to utilize trade-in deals at retailers or take advantage of wider sales and discounts associated with physical gift card purchases will diminish.
While the move aims to curb fraudulent activities, it arrives at a time when Valve faces scrutiny regarding its market position. Discontinuing a retail product that allows other shops to sell Steam currency may present a less favorable image in light of these ongoing discussions.